Many parties are eager to extend credit to those who have just received a discharge in bankruptcy.One view is that such persons have no other debts and thus are a relatively safe credit risk.Furthermore,such persons cannot get another discharge in bankruptcy for 6 years.Many such persons,though,run up excessive debts time and again.Should there be limits on the ability of those discharged in bankruptcy to incur new debt? What are the arguments for and against such a rule?

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The Answer of Many parties are eager to extend credit to those who have just received a discharge in bankruptcy.One view is that such persons have no other debts and thus are a relatively safe credit risk.Furthermore,such persons cannot get another discharge in bankruptcy for 6 years.Many such persons,though,run up excessive debts time and again.Should there be limits on the ability of those discharged in bankruptcy to incur new debt? What are the arguments for and against such a rule?

Many Parties Are Eager to Extend Credit to Those Who