cfwake wrote:
Can I just ask WWW why he thinks that giving people advice on getting unsecured debt with the full intention of declaring themselves bankrupt is constructive? It is FRAUDULENT, thus ILLEGAL, and can land you in some very, very serious trouble. Do you have the personal experience of doing this WWW or are you going off what other people seem to think is okay? If you have beliefs otherwise, then go and speak to a lawyer about the wisdom of carrying out such an action.
It's a stupid idea, which is why people don't do it.
If you do a search you will find a long and illuminating thread where the planned bankruptcy strategy was fully discussed.
I'll save you the trouble:
http://www.pprune.org/forums/showthr...kruptcy&page=2
The fact is people are doing it and getting away with it. I could name names.
On one level I cannot advocate it as it is illegal. On another I cannot see the harm in punishing the peddlers of enormous credit to youngsters with the sole aim of drowning them in debt.
Putting on my Vulcan ears it seems a rational strategy where the rewards are very high and the risks very low.
The penalties involved with bankruptcy were specifically lowered as a manifesto pledge by this Government.
The judges have No interest in sending a 22yr old in enormous debt to jail.
If I had a son or daughter wanting to do their licenses I would find it difficult to dissuade them from using planned bankruptcy on any rational grounds.
If the morals of it cause you problems then that is a personal problem.
Cheers
WWW