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Assessing the Decision to Declare Personal Bankruptcy: Factors and Considerations

A discussion on personal bankruptcy, evaluating financial factors, legal considerations, and economic consequences.

Hunter Harris
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Declaring Bankruptcy1Develop a two-to three-page paper (excluding the title and reference pages) focusing on the selection of themostrelevantfactorstoconsiderinapersonalbankruptcy.Youneedtoaddressthefollowing•Describe the factors youshould consider when assessing the choices related to declaring personalbankruptcy.•Explain why personal bankruptcy should be the choice of last resort.Course: NameDeclaring BankruptcyYours NameProfessor’s Name [optional]DOS:UniversityDescribethe factors you should consider when assessing the choices related todeclaring personal bankruptcy.Announcing personal bankruptcy is a not easy pronouncement. Bankruptcy willleave a spot on your recognition for long time say many years to come, and, based onyour monetary situation, may consequence in the defeat of your automobile, home, andinvestments. Personal bankruptcy should be sighted only as a last option, for those whoare inmoney owingsobottomlessthey will never becapabletoreturnit back.(Anthony,,1998)The only case of personal bankruptcy to be declared is when you consider that noany available sources of income would work longer. Otherwise it is not a good deal.You should cautiously examine your monetary circumstances and find out themethods so that you can get rid of the debt instead declaring bankruptcy.(Sullivan,Warren, & Westbrook, 1999)

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