Bankruptcy Law Could Hit Entrepreneurs Hard

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00008716-bankruptcy-law-could-hit-entrepreneurs-ha/

By Janet Novack, Forbes

It’s the modern version of the Horatio Alger story: A young entrepreneur starts a business and fails. He goes bankrupt and walks away from his debts, including the money he borrowed on his credit cards in an attempt to keep his venture afloat. He starts another business and this time, through hard work, luck and pluck, he succeeds.

OK, so maybe it doesn’t happen exactly that way. Maybe the second business is a bust, too, and the guy goes to work for the post office. But some respectable academic research does suggest that the liberal U.S. bankruptcy code has encouraged taking risks.

For this complete story, please visit Bankruptcy Law Could Hit Entrepreneurs Hard.

Bankruptcy Law Could Hit Entrepreneurs Hard

Unknown Author

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