Bankruptcy Help
Bankruptcy is a legally declared inability or impairment of ability of an individual or organization
to pay its creditors. Creditors may file a bankruptcy petition against a 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).
Source
http://en.wikipedia.org/wiki/Bankruptcy