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- Title
ethics of…Bankruptcy.
- Abstract
The article discusses issues concerning the ethics of bankruptcy. Lenders and creditors anticipate and negotiate the risk of consumer non-payment into their loan or interest rates, thus protecting themselves should a borrower default. It notes that high gas prices, the recent fallout of the mortgage industry and rising use of credit by consumers are creating an economic condition ripe for bankruptcy. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 seeks to prevent consumers from abusing the bankruptcy system by clearing all their debts when they have the ability to repay at least some of them.
- Subjects
BANKRUPTCY; ETHICS; INTEREST rates; DEFAULT (Finance); GAS prices; CREDIT
- Publication
Baylor Business Review, 2007, Vol 26, Issue 1, p42
- ISSN
0739-1072
- Publication type
Article