Bankruptcy law has one goal-to encourage the continued use of credit.

Question

Quizplus · Accepted Answer

The goal of bankruptcy law is not to encourage the continued use of credit but rather to provide a legal framework for individuals and businesses to manage their debts and start fresh financially. While bankruptcy can negatively impact credit scores, it is intended as a last resort for those overwhelmed with debt and should not be viewed as a way to encourage additional borrowing.

Bankruptcy Law Has One Goal-To Encourage the Continued Use of Credit