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Bankruptcy is common among a lot of people in order to repay their debts as well as protect their credit standing. However, before filing for a bankruptcy proceeding, it is important that you learn some information regarding bankruptcy. Those who have faced financial hardship know how difficult it is to deal with debt. In order to receive a debt discharge, debtors are typically required to make major sacrifices, such as liquidating their assets, or forfeiting a percentage of their income. Click on the links below to find out more.