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Have you ever heard of an individual setting up a corporation as a safegaurd for their finances? |
Say, for example, a person was deeply in debt and was constantly pestered by collection agencies. Would it be wise or incredibly stupid and pointless to start a corporation that would contain all of this individual's finances? It's a ctually somewhat common. They are shell corporations. If they do it right, they can shield themselves and their assets almost entirely from liability. |
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