It’s Throwback Thursday, in 2001 the Dutch Consumer Bankruptcy Act was evaluated, it had 3 main purposes: to provide debtors with a fresh start, to encourage creditors to communicate with debt counsellors, and to reduce the number of consumer bankruptcies. The authors present 4 recommendations: legal debt settlements should be made less attractive, prevention is better than cure, certain debt should be excluded from the act, and small entrepreneurs are left in the cold. To learn more about the reasons for these recommendations, read this week’s issue of Money Matters to learn why.
Have a nice read!
