SouthAussie
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it's the old story of choice, would you rather put your foot in a bucket of boiling oil or a bucket of angry scorpions?... it's pain all round.
But it seems that Borce couldn't cope with either of the choices he made.. to not declare bankruptcy, and to continue accumulating debt.
Somewhere, I got the idea that Borce was already a declared bankrupt. Due to the hard hit he took on his previous venture into trade. How he managed to register businesses is a mystery to me.
Another interesting thing about bankruptcy .... if someone else has signed the personal loan agreement with you (such as a brother, brother in law, or other family member), they are still liable for the entire debt even if you declare and are granted bankruptcy.
Almost every question answered – Voluntary Bankruptcy in Australia