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.

Financial Education

You must be logged in to reply to this topic.

Join the #DebtFreeIndia forum to ignite open conversations about debt solutions, mental health and financial literacy. This forum is a vital space for sharing solutions, empowering individuals and MSMEs, and fostering financial as well as legal education. Together, we can break the cycle of debt trap and build a brighter financial future for all. Let’s collaborate to create a debt-free India where everyone has the tools and knowledge to thrive!

For IOS and IPAD browsers, Install PWA using add to home screen in ios safari browser or add to dock option in macos safari browser

What is bankruptcy?

Recent Question

© COPYRIGHT 2024 ALL RIGHTS RESERVED | SINGLEDEBT | DEBTFREEINDIA