Newsflash – There’s No Secret Code to Bankruptcy;
They Actually Wrote it Down!
Everyone’s Got an Opinion.
You’ve heard all about it, mostly the negatives, the stereotypes, and the “water-cooler talk” on TV, or among friends, maybe in the break room at work; “OMG, did you know Susan and her husband filed bankruptcy? What the heck man?” “My cousin did that a few months ago, I can’t believe he would do that”. Or, “I would never do something like that, like my daddy taught me a man pays his bills, period.” Just as armchair quarterbacks, little do they know! Yes, “water-cooler talk” is no different than “locker room banter”, “bar stool rumors”, and “grade school parent politics”, all baseless speculation and rumor driven self righteous narcissist nonsense, and it has no place in rebuilding your financial life. It’s a process foreign to almost everyone who hasn’t gone through it, a mythical thing we’re told to avoid by people who either stand to profit from our bad decision, or people who get off on making themselves believe that they are holier than thou, as if there’s was a real choice involved to begin with. The whole thing is just so,… just so,…what is it? A code?
It’s Easy – It’s a Fresh Start
No, there’s no secret code to bankruptcy, no mythology, and no hiding the ball, at its root, it’s an incredibly easy concept to understand. Bankruptcy is a life preserver, a fresh start, and a “do-over” at the same time. It a right that we have, under federal law, that says if we qualify, help is available. Exercising that right, implementing that process, well there’s the complex part, but the right itself is easy to grasp; if you’re in financial trouble and there seems to be no way out, help is available, and know that there’s a very good reason help is available.
Why Bankruptcy is “A Right”
There are several viewpoints on why bankruptcy is available as a right. Some would argue that it’s to help people who see no way out of a financial situation, a form of safety net, if you will. Others would argue it’s a way to allow people to simply get back on their feet, to help families, to support the American worker. Personally, I think the concept comes from the knowledge that productive people make productive citizens, and we as a nation have an interest in making sure folks are in fact, productive. If one is burdened with overwhelming debt, he or she essentially becomes a slave to that debt and productivity declines. In these cases, other more important factors in life fall to the background and are ignored. From saving for retirement and the kids college, to spending time with family and being a good parent, if you’re working sun up to sun down just to pay the interest on the credit cards, a person can start to lose sight of what’s truly important.
If you’re looking into bankruptcy, or even wondering if it could be a path to take, learn what you can. Form your own opinions based on the knowledge you have sought. Make the decisions that benefit you and your family. Avoid the water cooler talk, the nay-sayers, and those who “just can’t imagine why someone would do that”, and by the way, they did the same thing just last year.
To get started, below I’ve listed some of the most common questions about bankruptcy. Just press on the link to get to the answers.
6 Things to Know About Bankruptcy
- Do I need to hire a lawyer to bile a bankruptcy?
- What will happen to my credit cards debt?
- Are there income requirements to file a bankruptcy?
- Will bankruptcy affect my credit score?
- How long does the process take?
- Will I have to go to Court?
There’s no secret code to what’s going on in bankruptcy. Bankruptcy is a right you have under federal law. If you qualify, you have the absolute right to have your debts discharged.