THE TRUTH ABOUT BANKRUPTCY*


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Bankruptcy: n. a human and/or business which is unable to pay back existing debt in a timely way and being unable to get additional credit

Personal and small business bankruptcies are rather terminal and final but big business has bankruptcies which reorganize the business legally and some historical debt is forgiven so that the business can continue to function with a smaller size or footprint.

National bankruptcy is more serious and can result in worldwide depression if a major country suchas the US collapses financially and becomes insolvent.

 If you liked this evergreen truth blog then read more of them, about 2700 so far, or read one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

For a complete readily accessible list of blogs and titles go to twitter.com/uldissprogis.

Enjoy!!!!!!

If you enjoyed this blog then here is a list of my most popular ones which you may also enjoy!!!

https://uldissprogis.com/zlist-of-my-most-popular-blogs/

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