5 ms·

What does it mean for an individual to go bankrupt? [genuinely curious]

• markdown 13y ago
  It means you're fucked. Your name is dirt after that. You'll never get credit again.
  • dublinben 13y ago
    Never being seven years.
    • markdown 13y ago
      I guess it depends on where you live. In my community, nobody of consequence, let alone credit providers, would forget within 7yrs. Further, there are other consequences eg. you'd be barred from holding public office.
      • tptacek 13y ago
        Your community sucks in this regard. Bankruptcy is not like that in the US.