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Do you believe Chapter 11 bankruptcy laws are fair?

  • Yes they are

    Yes, I do think that these bankruptcy laws are fair, and they have been in effect for a very long time. I think that they are good for the people, because they allow them to file for bankruptcy, but they have some guidelines so that you can not keep filing.

  • No, I do not think Chapter 11 bankruptcy laws are fair.

    I do not think that a person should have the ability to take careless actions regarding finances and not have to face the responsibility of having to take care of the financial issues should they not turn out to be to their liking. I think that if a person goes broke and turns out to be in debt because their business ventures don't work out for instance, they should be responsible for paying it all back.

  • Yes, I do Chapter 11 bankruptcy laws are fair.

    Yes, I do Chapter 11 bankruptcy laws are fair. They are not to strict, but just strict enough to be effective at what they are suppose to do. Chapter 11 bankruptcy is there for companies to utilize as a last resort, but to save the company versus having it go completely under. This saves jobs and average employees that hold no blame in a company being mismanaged and put in a financial situation.

  • They allow too much slack.

    No, I do not believe that Chapter 11 bankruptcy laws are fair, because they allow too much freedom for the person who owes to fail to pay their obligations, and without any consequences. Some people and business that file for Chapter 11 could repay their debts, they just don't want to have to make sacrifices.

  • No, it's not unfair.

    Chapter 11 bankruptcy is not unfair, but the opportunity to declare chapter 11 bankruptcy should be extended to everyone--not just businesses. With that said, it is good that businesses can declare this. You don't want companies failing for mistakes. It creates job and revenue loss, and less taxes paid to the country.


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