Bankruptcy law, is it an ethical act?

United States
September 2, 2010 8:53pm CST
Some people has question about the bankruptcy law. It is like a haven for people to escape their responsibility for paying the money they borrowed. Isn't it so? When I thought deep about it, it is partially true. Because if you lend out money to people, and you never get it back due to the fact there is a law protecting them have the rights not to pay you back, you might feel injustice. Maybe the same thing you think about your money was deposited in the bank, and the bank lending out the money to other people, and that particular individuals not be able to pay back the money. You might feel that no matter what, he should find a way to pay the money back. I am not pushing people to the edge of cliff if they literally not be able to handle the finance of their lives. It was just a thought of it. What do you think?
1 response
• Bulgaria
3 Sep 10
I'dont know,but It's only in some countries,In Bulgaria for instance,if you're broke,you're pretty much broke :)
• United States
3 Sep 10
Maybe you are right. If you even have problem to sustain your daily living expenses, you might not be able to pay your debt for that matter. I was trying to say, if your financial status get back on your feet again, you might probably need to commit your responsibility.