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bangkarote
a legal proceeding which allows a debtor to discharge certain debts or obligations without paying the full amount or allows the debtor time to reorganize his financial affairs so he can fully repay his debts. (A bankruptcy does not discharge obligations secured by a deed of trust.)
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Real estate
- Category: General
- Company: Century 21
- Product:
- Acronym-Abbreviation:
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