May 11, 2009
Bankruptcy is sometimes called a “financial weapon of mass destruction.” I think of bankruptcy more as a financial Project Genesis, because after the bomb goes off, you get a fresh start.
Whether to file bankruptcy is a business decision, not a moral one. If a business has more debt than money, it declares bankruptcy or goes out [...]
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May 7, 2009
Once a debt is in default—meaning you stopped paying it—one option is to attempt to negotiate a settlement with the creditor. (You can try this before you go into default, but creditors are rarely willing to play ball until you prove your poverty—and before they rack up some more fees.)
You could just pay the full [...]
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