Better to be bankrupt

[thesheriff443]

A few years ago a friend owed 12,000 to the inland revenue, he was still working and could not clear the debt outright he could afford a 100 pounds every month, but the inland revenue refused and made him bankrupt!

Was it not better for them to get the money back over time than right off the debt?, or is there another reason?.

[Jesus.]

To owe that much, he must have been self employed and willfully chose to lie about his earnings. They had no obligation to work a deal out with him in those circumstances and bankrupting him will have more of an effect on his future than letting him take the piss with his pittance payments.

[arista]

To owe that much, he must have been self employed and willfully chose to lie about his earnings. They had no obligation to work a deal out with him in those circumstances and bankrupting him will have more of an effect on his future than letting him take the piss with his pittance payments.


Bang On Right JHC

[lostalex]

100 pounds a month payments? that really is taking the piss.