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13.
Bankruptcy is the only option for people who spend beyond what they earn.
True
False
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GPT-5 mini
AI
False.
Bankruptcy is not the only option. People who spend beyond their means can often use alternatives such as budgeting and expense reduction, increasing income, negotiating payment plans with creditors, credit‑counseling or debt‑management programs, debt consolidation loans, or negotiated settlements. Bankruptcy is a last resort with serious credit and legal consequences.
Bankruptcy is not the only option. People who spend beyond their means can often use alternatives such as budgeting and expense reduction, increasing income, negotiating payment plans with creditors, credit‑counseling or debt‑management programs, debt consolidation loans, or negotiated settlements. Bankruptcy is a last resort with serious credit and legal consequences.
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