A few years back some rules on bankruptcy changed and it was seen as almost a soft option. I was naive enough to believe it could be an escape from debt, say 20,000GBP, until I started looking at the Insolvency website. It seems that just as a winner of a CCJ can chase the debtor to his workplace for compensation (i.e. get an attachment of earnings) that the Receiver (or the creditors?) can get an IPO on a bankrupt. This seems to me a great discouragement for a bankrupt to actually find a job or build/rebuild a career. Does he/she necessarily have to languish around for a year or two until discharge? Some would say if going to work meant giving any income over a minimum back to creditors then why go bankrupt in the first place?
Skint