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Debtfreeindia
Keymaster
July 31, 2024 at 11:11 am
Q:

What is bankruptcy?

Bankruptcy is a legal process through which individuals or businesses unable to repay debts seek relief from some or all of their obligations. It involves the liquidation of assets or the creation of a repayment plan, providing a fresh start while ensuring fair treatment for creditors. This will affect your credit score very adversely and will not be able to obtain any type finance in the future for around 6 to 7 years.

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