The process to go bankrupt is too easy and does not allow for the debtor to explore all their options.
As part of my research I interviewed 29 people who had recently declared bankruptcy. We discussed the process. I found that at least half of the people interviewed did not have to go bankrupt.
Going bankrupt still carries great stigma in Australia. The participants in the research reported experiencing feelings of shame, embarrassment and guilt. The decision to go bankrupt should only be made after careful consideration and taking the time to weigh up all the options.
So why is the process to go bankrupt as simple as downloading forms from the official government website, completing and submitting them via email the same …
Read the full article at: http://theconversation.com/going-bankrupt-is-a-life-changing-decision-so-why-is-the-process-to-do-it-so-easy-64971
