On the flip facet, if your credit standing is already bad, a private bankruptcy may scale back your debt sufficient to enable you to revive your credit standing quite than trying to pay again everything that's owed. Enlisting the assistance of knowledgeable debt-restructuring firm is yet an alternative choice if earlier efforts to climb out of business debt have failed. Debt-restructuring professionals negotiate with creditors and assortment companies in your behalf to formally extend, renew…