madameblogalot

With all the talk of economic downturn, business closings and folks losing jobs, my kids are wondering just what all of it means. My son asked me exactly what is “bankruptcy.” Honestly, I don’t know what it is exactly. I did read a quick explanation of Chapter 7 and Chapter 13 bankruptcy. I found out you can even search US Bankruptcy Records. Maybe this will help me better explain to my kids just what is going on when we hear all the talk, and then turn around and see companies declaring bankruptcy and yet building a brand new store!