11 U.S.C. (United States Code)

11 U.S.C. refers to Title 11 of the United States Code, which governs federal bankruptcy laws. It provides the legal framework for individuals and businesses to seek relief from debts they cannot pay. The code outlines different types of bankruptcy, such as Chapter 7 (liquidation) and Chapter 13 (reorganization), explaining how debts are handled, how assets are managed, and the rights of debtors and creditors. Its primary purpose is to provide a fresh start for debtors while ensuring fair treatment for creditors.