Failure and Forgiveness: Rebalancing the Bankruptcy System
- Book Review,
by Karen Gross
From Booklist
Books on bankruptcy are always in high demand at any public library, but most of them are of the do-it-yourself variety, consisting of sample forms and simple language. Although Gross offers a more thoughtful look at the bankruptcy system, her book will still appeal to the layperson. The last major change in the federal bankruptcy code was in 1979, and Gross, a law professor at the New York Law School, clearly lays out her recommendations for change. She begins with an explanation and justification of the theory behind bankruptcy and then looks at the effects of bankruptcy on debtors, creditors, and the community. Gross argues for compassion, rehabilitation, and forgiveness; but she distinguishes between debtors who "encounter an unforeseen calamity" and those who "intentionally stiff their creditors." She also distinguishes creditors into categories and proposes that not all claims need to be treated equally. Finally, she makes a strong case for including "the community interest" in any consideration of bankruptcy. David Rouse
Book Description
As record numbers of bankruptcy cases cause concern that more and more debtors are shirking their responsibilities, Gross offers a new perspective on the problem. In this important book, she provides an accessible introduction to and evaluation of the federal bankruptcy system; places legal issues of bankruptcy in their social context; explores the often conflicting interests of those involved; and suggests an innovative and humanitarian approach to bankruptcy.
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