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Bankruptcy or jail?
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oldiowa
Posted 2/26/2016 09:32 (#5138730 - in reply to #5138625)
Subject: RE: Bankruptcy or jail?


waterloo iowa
As it is now bankruptcy is a TOOL that farmers use to renegotiate loans and other contracts.I was outbid on land more than once where the buyer ended up getting a 25% reduction because prices dropped and the lender wanted a quick resolution to upside down loans without going to bankruptcyIf the filer actually went to jail it would make them more likely to pay bills instead of filing.
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