Bankruptcy is the legal position of a person or corporation when there is no way to repay debt to creditors.
Insolvency is a state of affairs, whereas bankruptcy is a legal position. When an organization is declared bankrupt, it indicates that it is unable to pay its debts. When a company or individual is declared bankrupt, their obligations must be settled by selling assets or reorganizing the payment system with government assistance.
In a world where legal complexities abound, LegalRaahi stands as your reliable partner in securing legal assistance. We believe in the sanctity of personal freedom and are committed to defending your rights.
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