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Sonny Pilcher Files for Bankruptcy Protection; Owes Creditors $5.2M

Casper businessman Sonny Pilcher, who is serving a one-year prison sentence for tax fraud, owes creditors more than $5.2 million, according to his petition for Chapter 7 bankruptcy protection.

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Financial Experts Warn Against Bankruptcy

Jim Yates says bankruptcy should only be used as an absolute last resort, because the long-term effects are often far beyond what people expect.

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