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Later in its life cycle, the organization commenced shelling out these fascination payments to the Preliminary lenders with the new revenue coming in to keep what experienced designed into a Ponzi or ‘Ponzi-like’ plan. Greater than 8400 investors were promised returns.
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Bankruptcy can be a authorized course of action which allows somebody or business for getting out from overwhelming debt. Nevertheless, not Every person qualifies for bankruptcy - and Even when you do, you'll experience considerable penalties undergoing the method.
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Chapter 12. This is another court-ordered repayment plan for family members farmers and fishermen to pay off their financial debt without needing to market off their property.
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