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Bankruptcy

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It has been suggested that the exponential rise in insolvencies is partly due to more relaxed bancrupcy rules. So how do we show compassion whilst discouraging reckless borrowing?

I think I have the answer. Bancrupts, should be made to wear conical hats with a prominent B on them. These would be worn when answering the front door or when going outdoors. Failure to wear the had would be an imprisonable offence.

The height of the hat would be linked to culpability. A person driven to bancrupcy by the fault of others might be exempt and a genuine victim of missfortune might be assigned a small white hat. Someone who had mewed to buy a sports car however would be assigned a three foot tall monster in bright red. Bancrupt BTL landlords would wear red three foot tall hats with a flag on top.

This scheme would have two benefits. First of all, it would encourage people not to go bancrupt twice. Secondly, it would help shop keepers and traders to know who they were dealing with.

It would of course be necessary to discourage unfair discrimination and shop signs which said 'No pointy heads served here' would be frowned upon.

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In the Middle East don't they cut thiefs fingers off?

I think thats going a bit far but tatooing their fingers with rainbow colours might a good idea for someone who had gone bancrupt twice.

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In the Middle East don't they cut thiefs fingers off?

I believe earning interest on money lent is frowned upon in Islam. Sounds more civilised to me.

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They would just become status symbols. People would compete to get the biggest and gaudiest hat...

I say string 'em up. Only language they understand :)

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My favourite answer would be to make all bankrupts sit financial literacy exams before they arre allowed credit again.

Just in the same way that parents who have unruly kids can be forced to attend parenting classes and bad drivers can be forced to resit a driving test.

They would have to attend classes and complete a test before being discharged as a bankrupt. If they got into financial trouble again they they have no excuse and they are denied from obtaining credt ever again.

This is not a 'victimless crime' everyone pays for their mistakes.

I have sympathy with those in genuine need but this 'i've got a string of BTL, a mortgage at 8x my income and 6 credit cards' and it's all somebody elses fault doesn't wash with me.

What ever happened to indivudal responsibility - just because people give you credit doesn't mean it's their fault when you get in trouble.

The local crack dealer will give you drugs - but it doesn't mean you have to take it

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My favourite answer would be to make all bankrupts sit financial literacy exams before they arre allowed credit again.

Just in the same way that parents who have unruly kids can be forced to attend parenting classes and bad drivers can be forced to resit a driving test.

They would have to attend classes and complete a test before being discharged as a bankrupt. If they got into financial trouble again they they have no excuse and they are denied from obtaining credt ever again.

This is not a 'victimless crime' everyone pays for their mistakes.

I have sympathy with those in genuine need but this 'i've got a string of BTL, a mortgage at 8x my income and 6 credit cards' and it's all somebody elses fault doesn't wash with me.

What ever happened to indivudal responsibility - just because people give you credit doesn't mean it's their fault when you get in trouble.

The local crack dealer will give you drugs - but it doesn't mean you have to take it

And the local loan-shark will give you £10K secured on your kidneys :lol::lol::lol:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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