Anyone else think declaring bankruptcy should be illegal?

[KostasKouvalis]

I don't know if this is only a thing in the US, but basically how it works is, if a business, company or even idividual is unable or unwilling to pay their debts, they can just declare bankruptcy and not have to pay anything or get punished.

This is bad enough, but what really doesn't sit well with me, is another airline just declared bankruptcy and CANCELLED all existing reservations. I believe the reservations should still be honored.

If you're a big coorporation, this is great for YOU, but if you're the consumer, you get screwed because the coorporation doesn't have to hold up its end of the bargain, or be held accountable. It protects millionaires and coorporations, but screws everyone else. If I don't pay my debts, they take my house! NO! Millionaires and coorporations should be held accountable for the money they owe and the deals they made.

[jaksone2]

I don’t think it should be illegal, but there should definitely be stronger protections for people and businesses that are owed money

[Kaneki05]

Bankruptcy is important and needed but yea its equally abused. So no not illegal but needs to be reworked for sure.

[Kaneki05]

Same goes for tax right offs by the way

[Anonymous]

No. But it should be a last resort. And a little common sense goes a long way. If most of your bills are medical, that should be a automatic approval.

[Opinion Owner]

Nobody should have to go banrupt for medical reasons in the first place.

[KostasKouvalis]

I'm no lawyer, but I heard a lot of people simply don't pay and get away with it. I don't know how many actually get punished. I know they can give you bad credit, but I don't know what else. Though I heard that your debts can be inherited by your kids, which is fucking stupid, so makes me think they won't actually do anything to you. The interest will just keep growing until you pay them.
Though one place sent me a letter threatening legal action against me if I don't pay (even though I already paid them), so I don't know.