Bankruptcy protection is a legal process that helps individuals or businesses unable to pay their debts. It allows them to reorganize their finances or eliminate some debts under the supervision of a court. This process can provide relief from creditors, preventing them from taking further action to collect debts during the bankruptcy proceedings. There are different types of bankruptcy protection, such as Chapter 7 and Chapter 13 for individuals, and Chapter 11 for businesses. Each type has specific rules and requirements, but the main goal is to give debtors a fresh start while ensuring fair treatment for creditors.