We have that system in here, GmBH in Switzerland, where it is then easy to start a new business if you went bankrup. Like you mentioned it is good if you have debt…take stress out. Thanks for the info. 🤘
Well depends what jurisdiction you live in but basically you would wipe away your debts and start fresh. Talking to a bankruptcy attorney will help you decide if it’s a good option. There are certain things you have to consider, but overall is a good move if debts are too much to handle. Gets rid of a lot of stress.
https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-7-bankruptcy-basics
Discussion
The Devil hath power
To assume a pleasing shape.
William Shakespeare, Hamlet