Bankruptcy law review now urgent, say legal experts
Tuesday 28th June 2011, 2:56PM BST.
Commission chairman Clive Chaplin
NEW powers should be given to the courts to help poor Islanders crippled by huge debts rebuild their lives, say a group of legal experts.
In its latest report, the Jersey Law Commission, a voluntary body which reviews laws and makes recommendations to the States if it believes they ought to be amended or repealed, looks at ways to alleviate Jersey’s growing debt crisis.
The commission was asked to do so by the Citizens’ Advice Bureau, which has seen the number of people seeking help to deal with debt increase significantly over the past three years.
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Looking at all the shops closing, I don’t think that the states did a good job at preventing this shamble to happen.
Hopefully, no taxpayer money will be used.
I am not tightening my belt for the ones who lived like a king.
If you can’t afford it , don’t buy it.
If business is slow, work harder or sale it.
When I look at Dixies: how can you owe £7000 to the butcher without realizing that something was wrong. Bankruptcy is the easy way out.
Why scrap the date of someone who choose to open a steakhouse 20m away from the Wildfire.
Bad management, bad location, bad advertising…
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Those “poor islanders” should have shown enough forethought, less greed and more self discipline not to get themselves into “huge debt” in the first place!
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Blimey! Jersey, noted for altruism!
Watch the “They’re not having my money” comments roll in!
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This is not about saving the poor but rescuing the rich.
There are too many people in the island that are borrowed to the hilt, all fur coat and no knickers.
Big mortgages and loans on top.
Imagine that the economy stays flat so incomes are static or falling in real terms but inflation goes up forcing the Bank of England to raise interest rates to 6%.
The flow of people quietly getting out of the Jersey property market would turn in to a flood.
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Great read and I am glad you will find people posting good content such as this for all of us to see when going to a doctors office or browsing line someone where… Appreciate inspiring me having a nice publish.
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