With all forms of bankruptcy, the debtor has an automatic stay, which provides immediate protection from any further action by creditors. A. True B. False
Bankruptcy is a civil action including a person or company, that can not redeem existing debts. It is a process, that begins with such a debtor's motion.
It is most popular, and therefore less prevalent on part of investors.
It helps companies and consumers to recover or wipe off debt in federal district court via a judicial process, that's why the given statement is true.
