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Business Scotland: Bankruptcy

04/07/2015

Bankruptcy

BBC Radio Scotland - Business Scotland, Bankruptcy

David Henderson finds out what happens when a business or person goes bust.

David Henderson asks what happens when a business or person goes bust. He talks to an administrator who deals with companies on the brink and finds out about recent law changes.

This week on Business Scotland we find out what happens when a business or a person goes bust. Every year, hundreds of companies and thousands of people go bankrupt in Scotland. They're usually deep in debt - with no prospect of balancing their books. So, with no way out, they fold. David Henderson speaks to an administrator who's dealt with companies teetering on the brink. He finds out how the law has changed - so debtors must do more to pay back their creditors. And he learns how financial education is helping to stop people going bust again and again.

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