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Wednesday, 16 January 2008 |
The first point to make is that every decision will vary depending on the circumstances of each case; therefore understanding your circumstances will affect the decision you will make.
The definition of bankrupt is "an insolvent person" which in turn means "a person not able to pay their debts". You can be declared bankrupt in two ways, either by petitioning for your own bankruptcy or by having one of your creditors petition for your bankruptcy. |
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Debt Blog