Bankruptcy is a legal process where individuals or businesses unable to repay their debts can seek relief. There are different types of bankruptcy (such as Chapter 7, Chapter 11, and Chapter 13) depending on the financial situation. Bankruptcy can help discharge certain debts but may affect credit and assets. These are just a few examples of common legal questions, but legal issues can vary widely depending on the situation, location, and applicable laws. If in doubt, seeking professional legal advice is always a good idea.