Hello Friends,

Here I am Lucia again trying to find a good and virtuous topic to inscribe and share on my blog.

So the topic for today is "Avoid Bankruptcy".

Many want to use the law surrounding bankruptcy to avoid paying their debts. In the long term, however, what will it achieve but a bad reputation? People who have a history of this type are contaminated and may find that getting loans and things from banks is more difficult if not impossible. Smart business people use bankruptcy because they benefit from it when they move money to positions where they can not touch. That is not the right thing.

Some billionaires have outperformed others by avoiding payment to contractors and others who have provided them with assets, such as buildings or vehicles. They transferred their money to fiduciary accounts or created accounts abroad, which ran out over time. Some also use a spouse or partner to give money while their business was in operation.

The problem is that they have let others face bankruptcy who later refused to pay. These are usually the contractors and their subcontractors who usually involve small family businesses that can not withstand large losses.

Money is an invention of power and some think that the world owes them, so they do not care who they hurt in their haste for most of the wealth. So, how does the child avoid bankruptcy?

Years ago, this was a problem that I faced when a change in Australia's economic security saw an inevitable depression hit my business. However, it was intensified by a failure in marriage and three teenage children dependent on me. The situation was extremely serious since he owed money to many who could not be returned.

Working on my path was the first step. Securing a job that took me to interstate and gave me the opportunity to avoid debt collectors and others allowed me to pay off all debts for several months. For doing well in them, nobody persecuted me. That is probably the best lesson one can learn to be honest.

My father raised me with this thought "if you never mention a lie you will not get into trouble". For me, bankruptcy when one can and should pay people is a lie. The people my business was dealing with were honest, hardworking and responsible people. What right does someone have to deny them their fair rewards?