Below is what was written in the London Lite this evening:
"A record number of people walked away from their debts by declaring themselves bankrupt or insolvent this summer.
The total hit an all-time high of 27,644 in the last three months, more than 50 per cent more than the same period in 2005."
I was confused by the phrase 'walked away'. Does it mean that in Britain, when you borrow too much to pay back, you can simply get away with it, and the banks have to write off the debts? Does it mean that these people can retain their house too?
2006-11-03
09:36:01
·
6 answers
·
asked by
lankhai2006
1