What are some of the legal issues in declaring bankruptcy?

Anonymous
timer Asked: Jul 4th, 2014
account_balance_wallet $5

Tutor Answer

Alex Z
School: Cornell University

It's like opening Pandora's Box.  The rules vary by location (country-to-country...even within a single country the rules can vary by jurisdiction), but in the US, the majority of your assets are subject to seizure, you won't be able to get a loan or a credit card for at least 7 years and you will also find it difficult to gain employment in many professions (for instance, financial services...legally speaking, someone with a bankruptcy on their record is too much of a liability for a financial services firm to hire them).

flag Report DMCA
Review

Anonymous
awesome work thanks

Similar Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors