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Bankruptcy 101
By Mansi gupta
'Bankruptcy' the term that can raise the goose bumps of almost every individual who hears it and even a nervous breakdown to those who confront it. Bankruptcy stands for the situation when a person runs into huge debts and there is hardly any money left with him to repay those debts. The clouds of bankrupt situation can hover over anybody's life be it a successful business man who has never ever fathomed it or any greenhorn entrepreneur who had thought of going a long way ahead.
There are several reasons behind this insolvency-
Indebtedness-people usually take big loans from the banks and private companies in order to run successfully their business or company. However, since the economy is constantly fluc...
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