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Bankruptcy: How Can It Affect Your Case

When times are hard and business goes wrong, an entrepreneur’s worst nightmare may come true: They may be forced into bankruptcy. The benefit of bankruptcy is that it provides people with a fresh financial start. However, this comes at a cost. A bankrupt’s record will always be in the system (and thus could be found by potential employers). Unsurprisingly, the result reduced trust placed in both an individual and a business. That said, bankruptcy should only be used as the ultimate last resort. It should never be used as a way to escape the threat of creditors.