Debt is something that most people would dread experiencing. It is a nightmare to those who have practically gone through it. A person or business can be declared bankrupt through a legal proceeding where an individual or business is unable to pay back a debt. Liquidation is usually proclaimed after the assessment and evaluation of the assets is done and later used to pay off the debt. When one is unable to pay up a loan taken and incurs a debt, a bankruptcy lawyer Fort Lauderdale should be able to provide advice accordingly.