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Debtor's Estate
All legal rights, interests, and properties owned by a debtor at the time of bankruptcy filing.
Creditor
A person or entity that lends money or extends credit to another party.
Declare Bankruptcy
The formal process by which an individual or business legally declares their inability to pay outstanding debts.
Involuntary Bankruptcy
A legal process initiated by creditors to force a debtor into bankruptcy when they believe the debtor is unable to pay their debts.
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