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Family Personal Bankruptcy
Traditional sociological models of normative conformity suggest that those who most comply with presumed cultural expectations would be least likely to turn to practices that suggest a failure of their standing. Being in the midst of a normative storm, however, changes the very nature of the environment and even the conditions of those who are living through the commotion. Theoretical models, including social systems theories, can be particularly susceptible to these issues since they are based on the idea that the parts and interactions between those parts are vital for understanding what is happening and what might happen. What this means for people and their finances is not yet clear though they are often tied to business expectations in general (Granovetter, 2005: 34).
Nevertheless, it can still be safely assumed that if the particularly players (be they individuals, families...
The methods and means behind the various types of bankruptcy protections, after all, foresee this, and were designed and have evolved (legally and politically) for the exact purposes of trying to determine how such a recovery could best come about. Good people (or entities of a social nature) want to continue to being good, particularly if they feel at all connected to passing that sense of cultural accomplishment on to their offspring.
The dramatic economic thunderstorm has clearly smudged the boundaries of these nebulous distinctions, however. There is no long such apparent direct links any longer between what people seem to be doing and why they are doing what they are…
Nevertheless, it can still be safely assumed that if the particularly players (be they individuals, families acting as one, businesses, corporations or even nation-states) were effectively being forced into doing something they did not want to do, all would opt to find a way to undertake a "fresh start" in one way or another (Biza-Khupe, 2008). The methods and means behind the various types of bankruptcy protections, after all, foresee this, and were designed and have evolved (legally and politically) for the exact purposes of trying to determine how such a recovery could best come about. Good people (or entities of a social nature) want to continue to being good, particularly if they feel at all connected to passing that sense of cultural accomplishment on to their offspring.
The dramatic economic thunderstorm has clearly smudged the boundaries of these nebulous distinctions, however. There is no long such apparent direct links any longer between what people seem to be doing and why they are doing what they are doing. It simply could be the case that people (as individuals or inside a corporation) no longer see bankruptcy itself in the same light as they used to, which has brought about a shift in the stigma associated with that action (Efrat, 2006). And which also means they could no longer see it as a desirable option even if they have to turn toward it, or they may simply have begun to disconnect it from any basic form or moral legitimacy at all. The potency of the norms of enforcement as Efrat (2006:482) says are not as strong as they used to be. Or perhaps it could be the case that the norms are changing in several different ways and thus effectively removing the theoretical grounding from across the elements. It might well be the case that it will no longer be as safe as it used to be to claim that personal and business bankruptcy considerations share the same network of support.
Take the case of the American middle class (Boushey and Weller, 2008). Many statistics demonstrate that this sector is being hurt the most by uncontrollable debt and the related disheveling of their financial circumstances. How might such individuals act when given the chance to stay or leave this classification? Might they not want to sink lower, as it were, to the lesser social classes (where public benefits may be available), or might they be just as willing to go the other way and gamble on being able to recover with bigger and better results? Could they become reckless in one way or the other or might they be recovering from the storm by moving to an entirely different set of normative opportunities, some of
Personal Bankruptcy The context of challenging economic times has resulted in sharp increases in the rates of personal bankruptcies filed in the United States (Athreya, 2004). Personal bankruptcy happens when individuals use credit to obtain assets which they are not able to fully pay for because of growing debts due to interest. Interestingly, households generally tend to increase their holdings of debt relative to income, meaning that as household income increases,
It provided for fast proceedings, encouraged debtors to reschedule their obligations rather than liquidate and helped creditors recover their claims against bankrupt estates. The 1994 Act also created the National Bankruptcy Commission, charged with investigating further modifications of the bankruptcy law. Latter laws, however, disregarded many of the Commission's recommendations. In April 2005, President George W. Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Many
In terms of the products which are no longer fresh, but which can nevertheless be consumed, these are donated to food kitchens and local shelters for the homeless people. 3. Alignment of the Values and the Managerial Function in Light of the Common / Different Values A major difference between my personal values and those forwarded by Kudler Fine Foods revolves around the approach of the established goals. While along my
Economic Impact of Gambling Along with "Wine, Women and Song," gambling was often considered a vice. Indeed, gambling has been a part of human civilization and culture since times immemorial. Gambling has paralleled human evolution. One can easily find instances of gambling in the Bible and other historical references. Gambling can be defined as staking ones material possession for profit. In a broader definition, gambling can also be considered a pact
The recent impositions on personal bankruptcies attracted the attention but the legal experts opined that new rules could have extensive effects. In common, in the words of a bankruptcy lawyer Jon Schneider of Goodwin Procter in Boston, "There is probably going to be a raft of filings in September to avoid this new law." (Law could trigger Chapter 11 surge) D.J. Baker of Skadden Arps a New York lawyer,
" When a person files for bankruptcy, a person's trust, conscience, moral responsibility and accountability are all jeopardized. Trust Trust has always been an important factor in any credit transaction. With the increase of informal credit sales such as credit cards, trust is crucial between the debtor and the creditor for the liquidity of the transaction. In earlier days, economic trust was interpreted as strong as other forms of human interaction such