If there is one word everyone is afraid of, its bankruptcy. But is it as bad as we think it is? We ask an expert to debunk the myths.
With more than 16,000 people declaring bankruptcy in Australia every year, it is possibly a lot more common than you would think. However, considering how easy it is to apply for a credit card, personal loan or other forms of finance, it can be very tempting for people to overcommit themselves and spend more than they can afford to repay.
But is bankruptcy really the scary thing most of us perceive it to be?
To find out more about the pros and cons of declaring bankruptcy in Australia, I spoke to Jonathon Colbran, Restructuring and Recovery Partner at RSM in Canberra.
Why do people declare bankrupt…
Read the full article at: https://the-riotact.com/the-pros-and-cons-of-declaring-bankruptcy/222884