Weak Enforcement of the Bankruptcy Laws :: Expository Exemplification Essays

Weak Enforcement of the nonstarter Laws In an article in The Business Journal Mukherjee tells of A wellness club executive in Texas persuaded a failure judge that his Rolex ticker was off-limits to the creditors because the watch was a part of his look and soulfulnessality. Stripping it would contri howevere him feel naked (69). They even let him keep it. This is the kind of topic that need to be dealt with. It just sends an image that the government and the courts want muckle to get a expressive style with bankruptcy fraud. Bankruptcy is no new thing. on that point are some people who need it just to survive and thither are others who final payment advantage of the way it works. When they do that, they are facial expression for a way that they can keep all their money but get rid of their debts. People think of many ways to take advantage of bankruptcy. Sometimes the FBI cant find all of the fraud and then the revenue payers suffer. The people commiting the frauds are als o making bankruptcy look bad. succession in reality, it is one of the best ways for people to get stand on their feet. More states need to focus on investigating their bankruptcy frauds and then prosecuting them. John R. Roberts, a bankruptcy attorney, states that bankruptcy is nothing more(prenominal) than a fresh financial start. It is designed to help those who are in debt beyond a reasonable means to pay (online). This is only if the person in debt didnt get there through anything dishonest. People get in debt for a number of things like losing their job, accidents, and business failure. When that happens people have disparate options of bankruptcy or different classs of the banckruptcy ammendment to choose from. The most common is Chapter Seven. This section allows you to sell some of your assets to clear as much of the debt as possible. In most cases, it also permits you to keep your property. Chapter 13 is for those who are temporarily in debt. It helps to set up paymen ts that are reasonable for the debtor. (online) Bankruptcy is a way for a person to regain their life. After getting so further in debt some people have no way out. In an article published in Newsweek, The Sorry Side of Sears, McCormick tells about a recent case involving Sears. Sears was using a credit card and takings it out to anyone that would use it.