Irresponsible Waster

[Terpe]

My reference to personal bankruptcy was concerning those people who are evidently already financially on their Rs..as with (presumably) the original subjects of this thread.

A way out of years of misery.

As a property owner...totally different ballgame.

I understand that Graham.....I'm just saying that the 'rules' and costs have changed in recent times.
Of course those on benefits would be no worse off.......given that they may be content to stay on benefits....but they could find the current constraints of bankruptcy somewhat more onerous and long lasting than was the case even a couple of years ago......
especially those who might have aspirations of securing future employment.
As example, bankrupts are no longer allowed to retain any income above the allowable living expenses.

Any IPA imposed by the OR would last for 3 years and may be applied at any time during the bankruptcy period. Imagine 3 years without any disposable income .......... that's rough.

Yes, it is most certainly a way out of misery for many who are eligible, can afford it and feel able to manage the constraints.
I hope I never have to contemplate it.

[grahamw48]

I understand that Graham.....I'm just saying that the 'rules' and costs have changed in recent times.

Yes...understood Peter.