About time too. People who petition for bankrutpcy (bankruwomen and bankrumen)made the best possible financial management decision for themselves and their families. Bankruptcy is not to be entered into lightly as we who have filed are well aware. But, sometimes there is no other option available, especially if one has a failed IVA.
Social stigma of bankruptcy 'waning'
4th April 2007
The level of social stigma associated with bankruptcy in the UK is waning, according to one personal finance expert.
Philip Beck, who runs the online service freeivaadvice, suggests that for many British consumers bankruptcy can be the right solution to their debt management problem.
And this less than traumatic experience of bankruptcy, when relayed to friends, family or colleagues has gradually seen some of the stigma attached to the process removed, Mr Beck asserts.
"It used to be something that people really didn't want to get involved in - even if it wasn't particularly onerous for them - but that has changed," he commented.
"There is an ongoing reduction in the stigma people find associated with bankruptcy."
Meanwhile, figures released recently by the Registry Trust demonstrated that the number of people being issued with County Court Judgments in the UK increased threefold over the course of 2006.
All I have left is my humour.
