No Asset Procedure (NAP) Law – Get out of Jail Free card.

I was mortified to read in SST an article by Jenny MacIntyre telling us that the government was introducing a law whereby people who had

  1. Debts less than $40,000 (unsecured and not including student loans) and
  2. No way of repaying it

can go in and out of bankruptcy within a year instead of the normal three.

This law is because ‘ of the number of consumers, rather than business people, in trouble’ according to northern bureaucrat assignee David Harte.

MacIntyre notes in her opeing paragraph that

“Bankruptcy levels have reached a 14 year high as easy credit sends thousands to the wall under mounting personal debt”.

Well I’m sorry but it’s not the easy credit that’s sent them to the wall; its their stupidity.  Human nature dictates that there will always be someone ready to take you for a ride if you are a fool; banks included!.

AND why are consumers given ‘preference’ over business people.  Does Ms Clark realise that she has already pissed off buisness people to the point of no return, and can now only buy stupid peoples votes?

Absolutely stunning stupidity on the behalf of everyone involved! Government, banks (as they should know who is high risk and who isn’t, they went for short term profits and got long term loss) and ‘consumers’. 

My exacerbation continues.

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2 Responses to “No Asset Procedure (NAP) Law – Get out of Jail Free card.”

  1. chantel1 Says:

    well just replying to an article from maidennz,
    you are such a hipacrip and i really hope the worse comes your way where you really no what it feel likes having to apply to that get out of jail free card.
    not everyone is perfect and lets just say finance companys do what they do to make money hell without them you probably wouldnt have what yourve got

  2. chantel1 Says:

    i think its a really good idea cause alot of people that get themselves stuck are mostly young or people whos financial life is going pretty well and then the unthinkable thing can just turn on you where you loose everything and end up in debt it gives us a second chance to correct the mistakes we made and better ourselves to not fall down that road again. and if these finance companys had offered these insurance packages back then where if something did go wrong they wouldnt loose out what thery lent.

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