We've been hearing a lot lately about high-profile bankruptcies such as Kodak and Wonder Bread. But for every bankruptcy mentioned in the media, there are countless personal bankruptcies filed. And while most of us are familiar with the purpose of bankruptcy, many are unfamiliar with the actual process. With that in mind we thought it would be beneficial for us to share the bankruptcy flow chart we use internally when examining real estate from the title insurance perspective.
This graphic depicts the general life cycle of bankruptcy chapters 7, 11, 13.
This infographic can also be found with greater explanation on our blog post: The Life Cycle of Bankruptcy