Bankruptcy advice
#31
BE Forum Addict
Joined: Apr 2008
Location: Epsom
Posts: 1,705
Re: Bankruptcy advice
The shameful thing is of course nonsense. The bankruptcy laws are clearly designed to give people a second chance, they encourage risk taking and entrepreneurship. Plenty of studies done to actually show that on the whole bankruptcy is a positive system for the economy as it 'lubricates' things. If it didn't exist people would get into never-ending arguments and assets etc would get tied up and never released for re-use. And the majority of people incur debts in good faith, they have every intention of paying them back. Where people do not do this and try to rip off the system then there are penalties to deal with this.
Last edited by sr71; Jun 18th 2012 at 9:19 am.