Sterling Green - Helping you get back in control of your finances
What is Bankruptcy?
Bankruptcy is an option that often has to be considered when an individual cannot pay their debts as they fall due.
Although bankruptcy has a bad stigma and is publicly advertised, it should always be considered when dealing with individual cases.
The Bankruptcy proceeding has two aims:
- To free the individual from the pressures of creditors (people they owe money to) to enable him or her to make a fresh start.
- To ensure that all assets (such as property and investments) are distributed fairly among the creditors.
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