More and more people are relying on the bankruptcy route for securing their assets in the worst case when one cannot be able to pay the debt. Looking at the detailed view on the bankruptcy route, you would realize that the path going into bankruptcy is not an option due to many reasons. On the other hand, Bankruptcy helps people who can no longer pay their debts get a fresh start by liquidating assets to pay their debts or by creating a repayment plan. Bankruptcy laws also protect financially troubled businesses.
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