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Fortune
Fortune
Ivana Pino

Understanding bankruptcy—plus a few alternatives to consider

Photo illustration of a $1 bill that has been mostly shredded, it is still connect on the right edge. (Credit: Photo illustration by Fortune; Original photo by Getty Images)

We always thing of debt as a bad thing—but that's not always the case.

It can be an invaluable tool in reaching some of your most important financial milestones. Perhaps you’re borrowing to purchase your dream home, finance your vehicle, or start a business. Checking off those financial to-dos are often made possible by new debt. 

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