There’s no such thing as money heaven

What happens to bad debts when they are written off? Does the credit vanish as painlessly as it was created? Unfortunately not...

Whither the money? Are bad debts written off balance sheets as easily as they were once written on them?

Nature has her limits, her penalties and her dirty tricks. In debt, as in dollars, quality and quantity vary inversely. The more debt a man takes on, the less able he is to pay it. The quality of his IOU declines.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.