Filing for Bankruptcy: When It Makes Sense and When It Does Not
Filing for Bankruptcy: When It Makes Sense and When It Does Not Life is unpredictable. Sometimes, a divorce, job loss, or health scare may lead to a sudden financial catastrophe. Other times, the slow and insidious accumulation of personal, business, or credit card debt might lead to financial distress. In such situations and others – gambling loss, mortgage delinquencies, judgments, medical bills, etc. – filing for bankruptcy may be the best option available. It allows you to eliminate or greatly reduce your debts while giving you a fresh financial start. Other benefits include stopping credit collection and wage garnishment. It may...
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