The Legalese Decoder: How an AI App Can Help You Understand Bankruptcy

Bankruptcy is a complex legal process that can be difficult to understand. With the help of an AI app called the Legalese Decoder, you can gain a better understanding of the process and how often you can file for bankruptcy. This article will discuss the benefits of using the Legalese Decoder and provide statistics on how often people file for bankruptcy.

What is the Legalese Decoder?

The Legalese Decoder is an AI-powered app that helps users understand legal documents. It uses natural language processing (NLP) to break down complex legal language into simpler terms. The app also provides definitions for legal terms and offers helpful advice on how to proceed with a particular case. The Legalese Decoder is available for both iOS and Android devices, making it easy to access from anywhere.

Benefits of Using the Legalese Decoder

Using the Legalese Decoder can be beneficial in many ways. It can help you understand legal documents more quickly and easily, saving you time and money. The app also provides definitions for legal terms, which can be helpful if youÔÇÖre unfamiliar with certain words or phrases. Additionally, the Legalese Decoder offers advice on how to proceed with a particular case, which can be invaluable when navigating the complex world of bankruptcy.

Statistics on Bankruptcy Filings

According to the American Bankruptcy Institute, there were 794,960 total bankruptcy filings in 2020. This was a decrease from 2019, when there were 881,722 total filings. Of these filings, Chapter 7 bankruptcies accounted for 542,827 cases and Chapter 13 bankruptcies accounted for 252,133 cases. Additionally, the average amount of debt discharged in Chapter 7 bankruptcies was $130,717 in 2020.

Conclusion
The Legalese Decoder is an AI-powered app that can help users understand legal documents more quickly and easily. It provides definitions for legal terms and offers advice on how to proceed with a particular case. Additionally, statistics show that there were 794,960 total bankruptcy filings in 2020, with Chapter 7 bankruptcies accounting for 542,827 cases and Chapter 13 bankruptcies accounting for 252,133 cases. With the help of the Legalese Decoder, you can gain a better understanding of bankruptcy and how often you can file for it.