Bankruptcy – How to Succeed
Bankruptcy – How to Succeed
Free Online Articles Directory
Why Submit Articles?
Top Authors
Top Articles
FAQ
AB Answers
0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Hello Guest
Login
Register
Hello
My Home
Sign Out
Email
Password
Remember me?
Lost Password?
Home Page > Finance > Accounting > Bankruptcy – How to Succeed
Bankruptcy – How to Succeed
Posted: Oct 22, 2008 |Comments: 0
|
]]>
Overview
Bankruptcy may be defined as the legally declared inability of an individual or organisation to pay their creditors, who represent a third party which supplied, to the individual or organisation, a product or service for which they are legally entitled to receive full settlement.
As part of a process called involuntary bankruptcy, a creditor may instigate bankruptcy proceedings against a debtor in order to secure the funds for which they are owed. However, in the majority of cases, such proceedings are not required. Under the auspices of a voluntary bankruptcy, the bankruptcy process is initiated by the debtor, which means that it is filed by the bankrupt individual or organisation.
History
In the Old Testament of the Bible and Hebrew Scriptures, the laws of Moses laid down that one Holy or Jubilee Year should take place every 50 years. Accordingly, on this day, all debts would be expunged from all Jews, and all debt slaves would be freed from their encumbrances, this being part of a heavenly command.
In fact, the Hebrew, or Jewish law of debt forgiveness, can be found in the Bible, in the book of Deuteronomy 15:1-2 which gives gives clear instructions on the release from debt of all encumbered individuals every seven years. In the book of Nehemiah chapter 5, there is an entry relating to debt forgiveness among the Jewish repatriates to Jerusalem.
Further, bankruptcy did not exist in ancient Greece, which relates to the period from circa 1100 BC and the Dorian invasion, to 146 BC and the Roman conquest of Greece after the battle of Corinth. In such times, only locally born adult males could be classified as citizens. Accordingly, it was only the fathers who were entitled to legal ownership of property. Thus, every member of his family would be forced into what was called debt slavery if a father was unable to settle his outstanding debts. This would include his wife, children and servants. Such a status would be retained until the creditor had received due compensation by way of their combined physical labour.
In many city states in ancient Greece, debt slavery was restricted to a period of five years, and debt slaves were given the protection of life and limb, which regular slaves did not enjoy. On the other hand, servants of the debtor were not so fortunate. In fact, they could be retained beyond the five year deadline by the creditor and were often forced to serve their new master for possibly even a lifetime, usually under significantly harsher conditions.
The term Bankruptcy has its origins in the ancient Latin word bancus, which refers to a long bench or possibly a table, and ruptus which means broken. The term bank originally referred to a bench.
The first bankers positioned this bench in public places, in markets, fairs, and such like, and upon which they conducted their financial affairs. They also wrote their bills of exchange, which was a written order by the drawer, who withdraws the funds, to the drawee, the banker, to pay money to the payee, who requires the funds.
Therefore, when a banker’s business failed, he broke his bank, that is to say his bench. In this way, the public would be made aware of the fact that the person to whom the bank belonged was no longer able to continue his banking business.
Bankruptcy – How To Succeed
Peter Radford writes Articles with Websites on a wide range of subjects. Bankruptcy Articles cover History, Role in Europe/US, Types, Prevention.
His Website contains a total of 39 Bankruptcy Articles, written by others and carefully selected.
View his Website at: bankruptcy-how-to-succeed.com
View his Blog at: bankruptcy-how-to-succeed.blogspot.com
Â
Â
Â
Â
Â
Â
Â
Â
Retrieved from “http://www.articlesbase.com/accounting-articles/bankruptcy-how-to-succeed-612851.html”
(ArticlesBase SC #612851)
Liked this article? Click here to publish it on your website or blog, it’s free and easy!
peter radford –
About the Author:
]]>
Questions and Answers
Ask our experts your Accounting related questions here…200Â Characters left
I have credit card bills from 9 years ago, can i include them for bankruptcy? i believe most if not all have gone to collections or law firmd?
HI, I have gone bankrupt and have a joint house with my partner and she has placed an offer to buy my equity in the property, but now a creditor is interested in my equity, but can he do that?
href=”/answers/she-broke-up-with-me-three-weeks-ago-and-we-have-gone-one-week-no-contact-should-i-keep-this-up-if-i-want-her-back-26950″ onclick=”_gaq.push([‘_trackEvent’, ‘Articles’, ‘RelatedQuestions’, ‘Accounting’]);”>She broke up with me three weeks ago and we have gone one week no contact. should i keep this up if i want her back?
Rate this Article
vote(s)
0 vote(s)
Feedback
RSS
Print
Email
Re-Publish
Source: Â http://www.articlesbase.com/accounting-articles/bankruptcy-how-to-succeed-612851.html
Article Tags:
bankruptcy how to succeed, bankruptcy, bankrupt, broke, in administration, penniless, gone bust, debtors, types, personal
Latest Accounting Articles
More from peter radford
Wahid’s hypothesis – the key of errors in business finance
Summary: There are some common business finance mistakes that can make an important crash on your business, if you are not alert of them. Sense business owners are aware of these mistakes and set systems in place, that help keep them from occurrence.
By:
MOHAMMAD WAHID ABDULLAH KHANl
Finance>
Accountingl
Jan 06, 2011
Internet shopping causes explosion in demand for courier services
Shopping on the Internet has become very popular all over the world. Combine this with the ease of ordering a courier service, and you get an explosion in demand for these couriers.
By:
Rodrick Nielsenl
Finance>
Accountingl
Jan 06, 2011
Online Accounting Courses – A Great Educational Alternative
Getting a school learning today may be very difficult, what with the costs involved and the current economic turbulence. The economic break down has wrecked havoc on the pockets of the many Americans, today the thought of having to shell out a lot to have the school education dreamed about has to take second fiddle to the basic needs.
By:
DeborahSmithl
Finance>
Accountingl
Jan 05, 2011
Great management accountancy jobs found online
Job searching can be a difficult process at the best of time, let alone in a recession. This is why there has never been a better time to use an online job search service to find the right job for you; available at the touch of a button.
By:
Joseph Johnl
Finance>
Accountingl
Jan 05, 2011
Finance jobs can be found online
Job searching can be a great hassle that goes from being an annoyance, to the major stressor in your life. With online job searching, the stress is removed, with the casual, hassle free, online job searching approach with online job search websites.
By:
Joseph Johnl
Finance>
Accountingl
Jan 05, 2011
What Do You Think About Consumer Credit Counselors?
Consumer Credit counseling is just like the area of Credit counseling, these two fields are related to each other. In simple words these are experts that are well trained in all matters like credit giving and taking and personal loans etc. They are familiar with all patterns that must be used in such methods.
By:
href=”/authors/kathy-jhones/548716″ title=”kathy jhones’s Articles”>kathy jhonesl
Finance>
Accountingl
Jan 05, 2011
The Role Of Consumer Credit Counselors
Credit counseling and consumer credit counseling or two similar fields, in fact both these field are very much similar to each other. Simply saying these are kind of professional workers who have expertise in dealing the issues of credit and personal loans.
By:
kathy jhonesl
Finance>
Accountingl
Jan 05, 2011
Looking For Consumer Credit Counseling Services?
It is quite common to see many people falling into the debt trap and finding it almost impossible to come out of it despite their best efforts. Availing loans was very easy in the past and so was laying your hands on credit cards.
By:
kathy jhonesl
Finance>
Accountingl
Jan 04, 2011
Attractions – How To Succeed 5
This Article continues the history of Florida with the plight of the Seminole Indians. It starts with the 1823 Treaty of Moultrie Creek when they agreed to move to a reservation in the middle of the Florida. It then considers the 1832 Treaty of Payne’s Landing in which some Seminoles agreed to relocate to a settlement to the west of the Mississippi River. The implications of the “Dade Massacre” of 1835 were considered. Finally, the Second Seminole War was studied together with its outcome.
By:
peter radfordl
Travell
Jan 01, 2010
Babies And Toddlers – How To Succeed 5
This Article follows the development of an infant when aged 24 – 36 months. It charts a series of observations in this phase which highlight those changes that may be classified as a “milestone.†It considers what may be defined as an average child in such analysis. In particular, it focuses on the changes defined under the key features of Physical, Mental and Emotional. It identifies the important feature of “object permanence†related to the development of a child’s intelligence.
By:
peter radfordl
Home and Family>
Babiesl
Dec 27, 2009
Attractions – How To Succeed 4
This Article serves to introduce the history of Florida from the earliest times to 1819 when Spain handed it over to the United States. It traces the various tribes who inhabited the region before the arrival of the Spanish in 1513. It considers how, in 1763, England subsequently secured control of Florida. Finally, it studies the First Seminole War in 1818, as a result of which, in 1819, and in accordance with the terms of the Adams-OnÃs Treaty, Spain handed over Florida to the United States.
By:
peter radfordl
Travell
Dec 27, 2009
Breast Cancer – How To Succeed 4
This Article studies Epidemiology (the various factors that affect the health and incidence of illness in a population). It considers the first case study relating to breast cancer epidemiology conducted in 1926. It then discusses, in some detail, the environmental and hereditary factors that are now regarded as being the root cause of breast cancer. These include: lesions on the DNA, failure of immune surveillance, the growth of malignant cells, and inherited defects in DNA repair genes.
By:
peter radfordl
Babies And Toddlers – How To Succeed 4
This Article follows the development of an infant when aged 18 – 24 months. It charts a series of observations in this phase which highlight those changes that may be classified as a “milestone.†It considers what may be defined as an average child in such analysis. In particular, it focuses on the changes defined under the key features of Physical, Mental and Emotional. It identifies the important feature of “object permanence†related to the development of a child’s intelligence.
By:
peter radfordl
Home and Family>
Babiesl
Dec 26, 2009
This Article concludes Aerobic Exercise and considers the concept of Aerobic Capacity. This relates to the functional capacity of the cardiorespiratory system, which includes the heart, lungs and blood vessels. It then discusses the VO2 max test, which measures the maximum aerobic capacity of an individual, in terms ofwhat it represents and how it is actually measured. It concludes by considering other methods of measuring aerobic capacity, such as The Cooper Test & The Multi-Stage Fitness Test
By:
peter radfordl
Sports and Fitness>
Aerobicsl
Dec 26, 2009
This Article continues a consideration of the important features associated with Adsense. It looks at site targeted ads, what they are, together with an example of calculating cost per mille. It then studies search advertisements, what they are, how they are used and the importance of keywords. Finally, it considers contextual ads and the role that the Google bot called Mediabot plays in indexing the webpages.
By:
peter radfordl
Advertising>
PPC Advertisingl
Dec 26, 2009
Breast Cancer – How To Succeed 3
This Article studies the breast cancer classification which divides all the different forms of breast cancer into four distinct groups, viz. pathology, the particular grade of the tumour, the expression of proteins and genes, and the stage at which the tumour has reached. It then closely identifies each of these categories. It also considers the application of the Bloom-Richardson grading system for tumours and the TNM classification of Malignant Tumours (TNM).
By:
peter radfordl
Add new Comment
Your Name: *
Your Email:
Comment Body: *
Â
Verification code:*
* Required fields
Submit
Your Articles Here Sign Up Today
It’s Free and easy
Author Navigation
My Home
Publish Article
View/Edit Articles
View/Edit Q&A
Edit your Account
Manage Authors
Statistics Page
Personal RSS Builder
My Home
Edit your Account
Update Profile
View/Edit Q&A
Publish Article
Author Box
peter radford has 69 articles online
Articles Categories
All Categories
Advertising
Arts & Entertainment
Automotive
Beauty
Business
Careers
Computers
Education
Finance
Food and Beverage
Health
Hobbies
Home and Family
Home Improvement
Internet
Law
Marketing
News and Society
Relationships
Self Improvement
Shopping
Spirituality
Sports and Fitness
Technology
Travel
Writing
Accounting
Banking
Credit
Currency Trading
Day Trading
Debt Consolidation
Insurance
Investing
Loans
Mortgage
Personal Finance
Real Estate
Taxes
Wealth Building
]]>
Need Help?
Contact Us
FAQ
Submit Articles
Editorial Guidelines
Blog
Site Links
Recent Articles
Top Authors
Top Articles
Find Articles
Site Map
Webmasters
RSS Builder
RSS
Link to Us
Business Info
Advertising
Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
/>Copyright © 2005-2011 Free Articles by ArticlesBase.com, All rights reserved.