What is Business Bankruptcy? Business bankruptcy refers to a legal process undertaken by a company or business when it is unable to repay its debts to creditors. It is a formal declaration that the business is insolvent and cannot continue to operate under its current financial obligations. Filing for bankruptcy is often considered a last…
Bankruptcy can provide relief from debt, but it will affect your credit score and ability to apply for credit. Learn about all the pros and cons of bankruptcy. You may think of bankruptcy as either a disaster or a magic bullet that makes the consequences of bad financial decisions disappear. Unfortunately, it is neither of…
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