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Politics : Formerly About Advanced Micro Devices
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To: RetiredNow who wrote (218316)2/10/2005 12:27:03 AM
From: Elroy  Read Replies (2) of 1574098
 
<iIf you ask anyone in the U.S. what does bankruptcy mean, they will tell you the persons net worth is zero or less than zero. That doesn't mean that they don't still have an income. It simply means they are flat broke and can't pay their debts.

Bankruptcy means you can't pay your debts which are due NOW, not that your net worth is zero. You can have a negative net worth, but as long as your debts aren't due TODAY, you have the time in between today and the day your debts are due to increase your assets and pay your debtors.

It's not a point in time number of assets. It has to involve the timing of when your creditors come a calling.
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