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Brits Lash Out at Bankruptcy Laws
A survey recently put out by Equifax shows that there is a broad concern that laws concerning bankruptcy are too lenient.
56% of those polled feel that it is not fair that people who file for bankruptcy will be discharged in a time span of one year and 65% feel the laws should make it harder to declare. However, what these people might not realise that although declarers will be discharged after one year the bankruptcy will stay on their credit reports for six years.
It makes one wonder what these nay-sayers’ opinions would be if they found themselves in a heap of debt?