What is the point of people being allowed to declare themselves bankrupt?
Is it a tool to stimulate the economy, because so many people mismanage their money and too many people in debt would create a freeze in spending and enterprise?
I ask because it seems unfair that people who take on the responsibility of credit can just declare themselves bankrupt,
with light penalties, such as not being able to buy a house for several years, a blot on their credit record etc
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Categories: information on bankruptcy Tags: credit record, economy, money