The consequences of bankruptcy can be devastating. Whether it was through a job loss, steep medical bills, mortgage debt, or a combination of factors filing for bankruptcy is often discouraged and viewed as a last resort.
No one is immune to the possibility of going bankrupt, as seen in several high-profile cases involving celebrities like Mike Tyson, 50 Cent, and Lil Kim.
What does it actually mean to be bankrupt?
Bankruptcy is often considered a dirty word, but it is simply the legal process where you are declared unable to pay your debts.
Bankruptcy allows people in financial distress to get a fresh start…
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