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2. State defaults in the United States - Wikipedia

   en.wikipedia.org/wiki/State_defaults_in_the...

   Another problem of reforming the bankruptcy code to include states is the Contract Clause of the U.S. Constitution, which prohibits state governments from ‘impairing the obligation of contracts.’ [5] As originally understood, this clause prohibited state legislatures from passing any laws to relieve either private debt or the state ...

3. What Happens If a State Goes Bankrupt? - AOL

   www.aol.com/happens-state-goes-bankrupt...

   State bankruptcies have recently become an open question as the coronavirus pandemic shreds many states’ finances. No state has ever declared bankruptcy, though. As state and local governments ...

4. Debt consolidation vs. Bankruptcy: Which is right for you?

   www.aol.com/finance/debt-consolidation-vs...

   Bankruptcy can give you a fresh start by restructuring your debts or liquidating some of your assets, but it can ruin your credit. Debt consolidation combines several debts into one, ideally with ...

5. Bankruptcy vs. default: Which route is best for you? - AOL

   www.aol.com/finance/bankruptcy-vs-default-route...

   A debt consolidation loan is a personal loan that you use to pay off other debt, usually from credit cards. Debt consolidation loans typically have low fixed interest rates and terms lasting ...

6. Chapter 13, Title 11, United States Code - Wikipedia

   en.wikipedia.org/wiki/Chapter_13,_Title_11...

   An individual who is badly in debt can typically file for bankruptcy either under Chapter 7 (liquidation, or straight bankruptcy) or Chapter 13 (reorganization).In some cases, options may also include Chapter 12 (family farmer reorganization) and Chapter 11 (reorganization of a company, or an individual debtor whose debts exceed the limits for a Chapter 13 filing). [2]

7. Sovereign default - Wikipedia

   en.wikipedia.org/wiki/Sovereign_default

   If the individual citizen or corporate citizen is a creditor of the state (e.g. government bonds), then a default by the state can mean a devaluation of their monetary wealth. In addition, the following scenarios can occur in a debtor state from a sovereign default: a banking crisis, as banks have to make write downs on credits given to the state.