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Should bankruptcy be made more difficult in order to discourage overspending?
Wiki User
∙ 13y ago
No. Once you have a Bankruptcy on your credit report, your spending days are over for many years unless you have cash.
A Different Perspective:It already has been made difficult. Newer bankruptcy laws have established a series of (metaphorical) hoops for potential filers to jump through. By and large, these are pointless and ineffectual, but the requirement of completion make it more difficult for those who are filing.Bankruptcy itself, and the current obstructions do nothing to discourage overspending. In fact, within months of the completion (discharge) of a bankruptcy, creditors often flood the recently bankrupt person with offers for credit cards and loans. It really is a viscous cycle that the individual must take charge of.
Wiki User
∙ 13y ago
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Can you get bonded during bankruptcy?
That should be very difficult. If I were making the decision for the bonding company, I wouldn't.
What bankruptcy information should you know before you consider filing for bankruptcy?
Bankruptcy is the filing of a petition that claims your assets, and your inability to pay for them. Bankruptcy severely effects your credit, and is present on your credit for 7 years. During this time getting credit cards or loans can be very difficult.
What is a sentence with the word ''discourage''?
Police patrols are supposed to discourage crime.You should not discourage children from learning.Don't let them discourage you from thinking of example sentences.
How hard is it to get credit after bankruptcy?
It is quite difficult to get credit after bankruptcy because after one declares bankruptcy one has to be significantly behind one ones bills to be able to do so. However after this one should be able to build their credit back up by paying things on time and not applying for loans.
Should a Christian file bankruptcy?
Filing bankruptcy has no affiliation with religion. If filing bankruptcy is he best financial options available, then you should do it.
How long should you keep bankruptcy paperwork?
Paperwork relating to the bankruptcy should be kept until at least the bankruptcy is off your credit report.
Bankruptcy attorneys should do their work pro bono.?
Bankruptcy attorneys should do their work pro bono.
Can you hold your passport after you get declared bankruptcy?
A bankruptcy filing or discharge in bankruptcy should not have any effect on your US passport.
How should an obligation that is discharged in a Chapter 7 Bankruptcy be reflected in a subsequent credit report?
The debt should be identified as being in bankruptcy or discharged in bankruptcy. It will remain on the list for 7 years. The bankruptcy will remain on the report for 10 years.
What are the factors that discourage mobility of labor?
nktest,you should be answerin
If a bankruptcy was discharged on an account that was sold to another lender and the original creditor is marking it as a charge off should it be marked as bankruptcy by the original creditor?
Yes, this debt should have been marked as a bankruptcy by the original creditor. It cannot be changed from a bankruptcy to a discharge unless the bankruptcy did not go through.
What if you had file bankruptcy and you kept your home what do you have to do to get in the bankruptcy now?
You need to start off by talking to your bankruptcy experts. They should be able to help.
