1. Bankruptcy

2. What is Bankruptcy A legal proceeding involving a person or business that is ______ to _____ __________ _____.

3. What happens in bankruptcy Negative information shows up on a _____ _____for _ years. Bankruptcy remains on person’s credit report for __ years.

4. Bankruptcy An advantage of declaring bankruptcy is ____ ____to _________ are __________.

5. Bankruptcy People who file for bankruptcy are still responsible for ___ _____ and _______ ______!

6. Other Types of debts NOT discharged by a bankruptcy Tax claims ________ ____ _______ Student loans Claims for punitive damages for malicious or reckless acts such as driving under the influence (___) State and Federal Income Taxes