Not technically, but that's no surprise since the legal systems are different. In practice though it serves the same purpose of making individuals debt free (even if it forces one to go through dog years).
Iirc Bankruptcy is technically reserved for companies and other legal entities, and always either ends in reconstitution or liquidation depending on if a court appointed lawyer finds that there are funds, income or other means to continue operating, or if liquidation is the only way that creditors will receive anything back.
Iirc Bankruptcy is technically reserved for companies and other legal entities, and always either ends in reconstitution or liquidation depending on if a court appointed lawyer finds that there are funds, income or other means to continue operating, or if liquidation is the only way that creditors will receive anything back.