Bankruptcy, Not For Faint Hearted

To keep the financial ship from sinking, declaring bankruptcy should be treated as an absolute last resort. This emotionally difficult choice can be carried out through a relatively simple process. Information detailing property, income, creditors and debts should be provided to the court and further collection efforts by the creditors is prevented by the issuance of a notice by the court to the creditors.

Child support, alimony, recently accrued back taxes, loans availed by students, large purchases made recently and penalties or fines of government agencies cannot be evaded by filing bankruptcy.
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