Bankruptcy is where the courts legally wipe away many of your debts when you have so many that you are incapable of repaying. Find a good website (google"what is bankruptcy") and get the specifics. The most important thing to know is that it will ruin your credit. You may be denied housing if you apply to rent an apartment, or a job if your potential employer does credit checks. Also it will be virtually impossible for you to get a loan of any type, or even a credit card. And if you do then your interest rate will be outrageous. Plus you're going back on a promise you made to your creditors to repay them. ------
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