Is declaring bancrupcy a good idea?
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franklin
Apprentice
Joined: 14 Sep 2004
Posts: 4
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 Posted: 09/07/07 - 05:16 Post subject: |
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| Im thinking of declaring bankruptcy, since theres no point in working anymore. Im tired of running into debts constantly and not gaining anything. I hardly have enough to pay my workers. So, Im wandering if this actually is a good idea at all. I think it is especially because I dont have any intention to start new business in near future. |
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ruperto
Apprentice
Joined: 01 Mar 2004
Posts: 10
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| Posted: 10/23/07 - 02:33 Post subject: |
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| In my opinion youre so wrong when you can think that this could be a good idea at any place and in any time in the world. Im not sure about all disadvantages but the most important one is that your credit record is going to include bankruptcy for the next ten years. On the contrary, I could give you a piece of advice for staying in business. First, you could cut your staff. I know its so painful but its the matter of survival. Second, you could invest your money in mutual funds or something else which could really bring you a fortune and what you cant definitely do as an individual. Start thinking of keeping the business alive ! |
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