Answer:
Chapter 13 bankruptcy
Explanation:
Chapter 13 bankruptcy also known as wage earners plan enables a person with stable income conveniently pay back a loan or debt without the forfeiture of any asset
Answer:
It can be disastrous or beneficial
Explanation:
If we look at a country such as China we can see how this works.
After Mao's death economic reforms were put in place to transform and modernize the Chinese economy. However parallel political reforms were not introduced.
This meant that the Chinese political elite, those in senior positions in the communist party, controlled the transformation of an economy where at the time, 1 in 5 of the world's population lived.
This gave them the potential, through corrupt practices, to amass vast fortunes. In this way corruption was extremely beneficial both financially and in gaining promotion through being part of a corrupt system.
However set against this was the periodic need, by the Chinese Communist party to be seen to be tackling this problem. If you happened to be an official caught up in such anti-corruption waves then it could mean stripped of all assets, imprisonment or even execution.
