ft lauderdale bankruptcy lawyer attorney Florida, Bonita Springs

Call Us Today For A Legal Consultation
(866)-244-9754

(954) 485-1800

Se Habla Español

Practicing Law in Florida and the following areas

  • Ft Lauderdale
  • Miami
  • Jacksonville
  • Bonita Springs
  • Tallahasse
  • West Palm Beach
  • Naples
  • Daytona
  • Collier County
  • Hendry County
  • Fort Myers
  • Okeechobee
  • Broward County
  • Charlotte County
  • Lee County
  • Miami-Dade
  • Palm Beach
  • Collier County

Bankruptcy

Bankruptcy or insolvency is a legal status of a person or an organisation that cannot repay the debts it owes to its creditors. Creditors may file a bankruptcy petition against a business or corporate debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization). An involuntary bankruptcy petition may not be filed against an individual consumer debtor who is not engaged in business.

The word bankruptcy is formed from the ancient Latin bancus (a bench or table), and ruptus (broken). A "bank" originally referred to a bench, which the first bankers had in the public places, in markets, fairs, etc. on which they tolled their money, wrote their bills of exchange, etc. Hence, when a banker failed, he broke his bank, to advertise to the public that the person to whom the bank belonged was no longer in a condition to continue his business. As this practice was very frequent in Italy, it is said the term bankrupt is derived from the Italian banco rotto, broken bank.

Contact Us by Email

foxyform.com

We will never share or sell your email address or phone number.

twitter-Ft-lauderdale-lawyer-attorneys-real-estate-foreclosure-Florida, Bonita Springs facebook-lawyer-miami-attorney- bankruptcy-short-sale-loan-modification blogger-ft-lauderdale-lawyer-closings-titles-attorney-west-palm