Search Results for 'inventive accounting measures'

Apparently what we are seeing now in terms of house repossessions, company bankruptcies and one-time big business honchos being hauled before the courts for bad debts, is only the first wave in what is predicted to be a tsunami of personal financial horror stories. This is because up to now, as bad as things appeared on the outside, ducking and diving have actually been the two main activities keeping people going since the economic crisis began. What this means in real terms is that instead of facing up to debts as soon as they hit, many in trouble adopted the ‘head in the sand’ approach, shoving their problems deep under the rug that time forgot, never to be retrieved again unless under threat of a shotgun to the head.