Cons of Filing Bankruptcy: Considerations Before Making a Decision
Cons of filing bankruptcy: considerations before making a decision. While it can provide relief from debt, it also comes with various drawbacks. Here are a few.
In the US, bankruptcy has long been stigmatized. Filing for bankruptcy is always associated with being careless, unethical, or indolent. However, many Americans end up in bankruptcy as a result of unanticipated life events like divorce, a medical emergency, or losing their jobs.
The purpose of bankruptcy is to shield debtors from creditors and offe...
