Fueling or extinguishing stress?
Much is written about the Bankruptcy Act 1966
operations about which assets are divisible to a bankruptcy
trustee, after-acquired property, and income contributions; and the
ability to undo transactions where shown as preferential in nature
to certain creditors, or void when a debtor divests assets before
bankruptcy in an attempt to evade a bankruptcy trustee's
reach.
What is rarely appreciated and therefore penned is the personal
impact bankruptcy can have on the individual mentally, both before
and after the fact.
I am certainly not a healthcare professional. My comments come
from dealing with literally hundreds if not thousands of people who
have gone bankrupt over the years that I have been involved in.
Leaving aside those whose financial burdens are akin to "water
off a duck's back" and deliberately incur debts to then
seek the relief of bankruptcy (which in reality are few), for the
majority of individuals who run a
