(Audio in Dinka)Settlement Guide: What is bankruptcy and its implications?
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The number of Australians in financial distress is on the rise prompting warnings of more personal bankruptcies as the national economy slows down. Going bankrupt or being declared bankrupt by a creditor, who is owed money that cannot be repaid, is a serious matter and has legal consequences. The journey into bankruptcy often starts with a small debt that wasn’t settled in time and then forgotten.
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