BUS215 – Week 2 – Assignment – Personal Bankruptcy
1. Due by Day 7. Personal Bankruptcy. What Develop a two- to three-page paper (excluding the title and reference pages) focusing on the selection of the most relevant factors to consider in a personal bankruptcy. You need to address the following: • Describe the factors you should consider when assessing the choices related to declaring personal bankruptcy. • Explain why personal bankruptcy should be the choice of last resort. You must use at least two scholarly sources, in addition to the textbook, and follow APA guidelines as outlined in the approved APA style guide.
Factors for one to be declared bankrupt
One can be declared bankrupt or declare themselves bankrupt if certain things happen to them. However, bankruptcy is normally the last action one could take. This is an action one takes when they find out that they have no other option and this action is actually irreversible. Bankruptcy is a state where you depend on the government to offset all your financial status.
There are various factors that one could consider before they declare themselves innocent. For instance, if you are in debts and are unable to…