[quote=FlyerInHi]I don’t know why citizens are so averse to their cities going BK. Bankruptcy is actually a good thing because it forces unions and creditors to negotiate, or have a solution forced on them.
When politicians talk about “finding ways to avoid bankruptcy”, it’s a euphemism for more taxes and less services for ordinary citizens.[/quote]
The same could be said for the general population — that people should not try to avoid filing for BK. Having been on the creditor side of a BK case (fought hard and won a settlement, but the very long process was hell), I can say for a fact that the BK scam works wonders for the deadbeats who file. Do you think it’s a good idea to promote BK for individuals? Any possible negative outcomes that you can see?
