Filing Bankruptcy

• If a person owes debts that he cannot pay, the federal government provides an avenue for that person to relieve himself of that debt. The debtor can seek to have his debts discharged under the federal Bankruptcy Code. He begins the process by filing a bankruptcy petition. The filing of the bankruptcy petition automatically stays the debtor's creditors from attempting to collect on debts that he owes to them. The bankruptcy court in which the debtor filed his petition will send an order for relief to all creditors.