Bankruptcy, a court based procedure gives one the opportunity to start afresh financially, although it leads to the loss of self esteem. Federal laws introduced with effect from the 17th of October 2005 have made filing for bankruptcy more stringent.

A set of procedures are involved throughout the proceedings from start to the end. All the financial documents should be placed in order including the list of the income

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• Pay stubs
• Contract payments if any
• Interest payments
• Annuity payments
• Settlements if any
• Tax refunds

There can be other source of income as well for the customer which includes personal property with its value like