arissa66
Answered

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What is one benefit of declaring bankruptcy?
O A. It removes debts that a person or business cannot repay.
OB. It reduces interest rates on credit cards if a person has good
credit.
OC. It changes compound interest loans into simple interest loans.
OD. It helps people manage debt without affecting their credit scores.

Sagot :

shsh07
O A. It removes debts that a person or business cannot repay.
gauravsingh23VT

It removes debts that a person or business cannot repay is one benefit of declaring bankruptcy. The  person is not liable to pay any amount to anyone, which they have taken before.

What is bankrupt?

Bankrupt is the legal way of the person who is unable to pay the outstanding amount of the other person from whom they have taken the money.

The bankruptcy process commences with a practical application by the borrower or on behalf of creditors, depending on which is more usual.

Thus, option A is correct.

For more information about Bankrupt, click here:

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