banking services chronicle magazine pdf in english 2021

 banking services chronicle magazine pdf in english 2021

banking services chronicle magazine pdf in english 2021 The disadvantages inherent to the process of bankruptcy also speak a lot in favor of why it is better to avoid bankruptcy. Following are a few disadvantages of bankruptcy. 1. Ruined Credit History: Bankruptcy creates ultimate damage to ones Credit history. It remains in the Credit report for 10 years from the date it was discharged. Not only that, it also stays in Court Records for 20 years. The worst part of this is that it reduces the chances of getting loans and jobs in the future as creditors and employers judge a candidate first hand through their Credit Report. Imagine, for 20 years, your record will follow you through all your applications!  how to get banking services chronicle magazine online This is one hassle many can do without. 2. Property Repossession: Declaring Bankrupt can result in losing valuable assets (non-exempt property) or equivalent cash value. You may need to part with your most treasured property. 3. Stained Social Status: Personal bankruptcy can spoil your social status. Familial relations can also be stressed due to bankruptcy as you may lose your position in your family. Friends and acquaintances also loose trust and looks down upon a bankrupt. A person declaring bankruptcy is often seen as a person who has weak financial planning banking services chronicle december 2021.

 banking services chronicle magazine pdf in english 2021