Good-Guy
VIP Contributor
Bankruptcy is a kind of condition when you take loans for commerical or personal activities and you fail to pay back your loans. This is a kind of situation which is very common. Anyone can go bankrupt at any time and any person or company can go bankrupt at anytime. During the pandemic, we have witnessed a lots of people going bankrupt. I believe that the situation of going bankrupt worsens when you take loans. This is because taking loans only increases your debt. There are many people who take loans and in order to avoid bankruptcy, they take additional loans to pay off their previous debts. It is quite possible that a person or an organization can simply go bankrupt if they take loans for improving business and end up losing everything and in this situation people usually go bankrupt AFTER they take loans. have you ever experienced this thing?