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January 13, 2009

Bancruptcy

Bancruptcy is a common misspelling for the word 'bankruptcy'. Regardless of how you spell it, the thought of facing bankruptcy generally conjures up fear, anxiety, stress and shame. It's important to realize millions of Americans are currently in the same financial boat. With endless economic upheaval and skyrocketing unemployment rates, the entire country is on the verge of bancruptcy.

The good news is bancruptcy provides the opportunity to reduce or eliminate outstanding debts and start afresh with a clean financial slate. The bad news is new bankruptcy laws were implemented in 2005; making it considerably more difficult to obtain full discharge of debts.

Real Estate Investing article on "Bancruptcy"