When your business runs into troubled waters where you have borrowed money, incurred huge debts and are now unable to repay these obligations, the instant solution that comes to mind is that of filing for Business Bankruptcy. The lure of starting afresh, after seeking solace in Chapter 11 is always more appealing than trying to find means to clear the debt trap that you have fallen into.

However, no matter how grave the consequences, it is often better to say no to Business bankruptcy. Bankruptcy should be considered only as a last resort and out-of-court restructuring alternatives should be given a thought.

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