Tuesday, 15 March 2011

Bankruptcy - still carries something of a stigma apparently

All may be lost for the Lord Mandelson (pictured), at least in matters of the heart. You will remember that it was his trip to America, inter alia, that caused the entrepreneurialism rhetoric that is contained in Productivity and Enterprise: Insolvency a Second Chance (CM5234). The noble Lord hoped that we could reduce the stigma of bankruptcy by seeing the procedure and its use as a normal part of the entrepreneurial endeavour. The problem for the Lord Mandelson is that this stigma reducing activity does not seem to have borne fruit, particularly with the Sunday Telegraph's agony aunts, Vicki and Octavia.

Whilst looking for Giles Coren's restaurant review I came across their advice to a letter writer who had listed the qualities she expected in her ideal man. These were; "funny, intelligent, successful, not bald." In response to this list Octavia has noted, "Well, no one goes searching for daft, humourless, bald bankrupts." Oh dear! Octavia seems to have missed Lord Mandelson's stigma reducing efforts and the idea that bankruptcy can happen to the unfortunate in business, as well as the reckless or feckless. He may be able to console himself if he falls within some of the correspondent's categories.

Picture Credit: http://www.caledonian-comment.com/wp-content/uploads/2009/02/mandelson.jpg

1 comment:

rehan said...

We deal with various clients in need of company and personal insolvency advice and although the stigma of bankruptcy is not what it used to be, there will always be a stigma associated with bankruptcy, no matter what the situation and circumstances resulting in the bankruptcy.

The fact of the matter is you had debts and you cannot pay them hence the drastic measures the person has taken. Not to mention the fact that it shows on your credit register - for the next 6 years - that you have been adjudged bankrupt.

Rehan Ahmed
Kingsland Financial Solutions
www.kingslandfs.co.uk

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