File spoon-archives/anarchy-list.archive/anarchy-list_2003/anarchy-list.0303, message 141


From: "Dave Coull" <coull2-AT-btinternet.com>
Subject: Kristopher's Bankruptcy Idea
Date: Wed, 5 Mar 2003 13:30:35 -0000




Bryan Moore wrote


> filing for bankruptcy will ruin your credit for life, 
> which means you'll never be able to borrow money again


This is simply untrue. First of all, I filed for bankruptcy
in January 1993. My bankruptcy lasted three years. After
that the slate was wiped clean, and yes, I have found it
possible to get credit again. For instance, I have at present
nearly paid off the bank loan I got last year. Okay, so
this was in Scotland, and the laws are a bit different, 
but I was even able to get a credit card from an American 
bank when I visited California. Thousands of people have 
found that bankruptcy does  _not_  mean they will never 
be able to borrow money again. Secondly, if we are talking 
about  _mass_  filing for bankruptcy, well, be serious. 
There is no way that banks and credit companies can afford 
to take the attitude you are suggesting to thousands, 
tens of thousands, hundreds of thousands, of potential 
customers. They would lose far more by doing so. They
will shrug their shoulders and say, well, okay, so they
did it because they were against the war, and it cost
us a lot of money, but that doesn't mean they won't be 
useful customers in the future, and it is not in our 
business interests to take too hard a line. Here in 
the UK, a dozen years ago, we had a movement of mass 
non-payment of the poll tax. If a few individuals had 
refused to pay the poll tax, maybe the authorities could 
have come down hard on them. But faced with millions
of people refusing to pay it, they were simply unable
to take such a hard line. So what you say is probably
wrong even at an individual level, and it is most
certainly wrong when large numbers are involved. 


Dave Coull



   

Driftline Main Page

 

Display software: ArchTracker © Malgosia Askanas, 2000-2005