Quote Originally Posted by deadheaddawg View Post
Is filing bankruptcy looking for a shortcut? Is it bad work ethic?

Or is it taking advantage of the system? I cant remember his name, but some rich guy told me once that filing bankruptcy is just a smart way to use the system and the laws in place.
It is cheating the system, someone has to either pay or absorb the debt. It is a shortcut. Business is a 2 way street, I have an object to sell and you have money to buy the object. It is an even bidirectional deal. You get some object to enhance your life and I get some money to allow me to also purchase some object to enhance my life. When someone bails on their responsibility and cheats the system and declares bankruptcy you short-circuit the systems and someone gets screwed. Prices of goods are increased to hedge against this threat - a percentage of people will declare bankruptcy - it harms the system for all of us. This is not how capitalism is supposed to work. We are to ALL pull our weight. This is the only way it will work properly (morality is a given here for the same reasons).