3 ms·
In the US context there are already provisions for this, abusive debtors can be forced from a schedule 7 to a schedule 13 bankruptcy, and in any case if the cre
by faeriechangling 4y ago
In the US context there are already provisions for this, abusive debtors can be forced from a schedule 7 to a schedule 13 bankruptcy, and in any case if the creditor protections aren't sufficient there are ways to bolster those protections without just allowing the creditors to have debt slaves.
For instance, you can disallow discharging debts for a period of years after the education ends. The status quo is pretty corrupt.
- pkaye 4y agoI guess allowing bankruptcy after N years might make sense. By that time the bankruptcy judge gets a good idea on future income potential.