Tuesday 16th of November 2010
A football manager has pleaded guilty to producing cannabis in order to pay off his debts.
According to the The Sentinel, Kenneth Scragg resorted to growing the drug in two industrial units he rented in exchange for money he had been loaned by two men.
Nick Davies, Mr Scragg's solicitor, told North Staffordshire Magistrates Court that the father-of-six was going through a time of economic hardship as a result of a business that was not performing well.
People who are struggling to cope with the financial pressures they are under because of a struggling company or lack of finance may decide to ask individual voluntary arrangement questions.
This could allow them to wipe their monetary slate clean and prevent them from proceeding with acts that could land them in trouble with the law.
Last week, Steven Law, president of the insolvency trade body R3, advised people who are struggling to meet debt repayments that seeking advice is the only way they can solve their monetary problems.
By Neil Burton
- Alternatives to bankruptcy available, expert notes
- Bankruptcy 'should be a last resort' to tackle debt management issues
- Bankruptcy 'has improved attitude towards debt'
- Insolvency levels rising, figures show
- Negative equity leading to bankruptcy increase, says expert
- 337 people 'declared bankrupt every day'
