What is the difference between insolvency and bankruptcy?

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What is the difference between insolvency and bankruptcy?

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Did you know that insolvency and bankruptcy have different meanings? Even though these two terms are closely related and often used interchangeably, they are very distinct! Read on to learn the difference between insolvency and bankruptcy. On one hand, insolvency is a financial state where an individual is unable to make his/her debt payments on […]

Categories: Bad Debt, Bad Credit, Spending

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Know Your Debt

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KNOW AND RESPECT YOUR DEBT! Debt comes in “different packaging” and can also be categorized as good or bad. Examples of good debt or money owed is the cost of an asset like a mortgage or loan debts that are tackled by staying on track with the re-payment structure. Conversely, bad debt can be incurred […]

Categories: The Right Advice, Bad Debt

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