Bankruptcy Law

If for some reason, such as illness, loss of work or just plain bad planning, your ability to pay for goods or services is interrupted, fear and guilt may often be your first feelings. You may even feel that you’ve fundamentally failed as a human being. These feelings are nonsense! Most people who find themselves in this unenviable situation are decent, hardworking individuals whose ability to pay these bills has been impaired through no real fault of their own. The worst thing these people may be guilty of is poor judgment.  

 

The guilt we feel about the debts we’ve run up must be put in perspective. After all, if you file for bankruptcy you will find yourself in good company. Many prominent, respected, intelligent and successful people in history have filed for bankruptcy. However, history books focus on the accomplishments and great deeds that were done once these individuals were given a fresh start in life. What a poorer world we would have without the contributions of such individuals as Walt Disney, Henry Ford, Thomas Jefferson, Abraham Lincoln, Thomas Edison, Alexander Graham Bell, and Mark Twain (to name a few) all of whom have gone through the bankruptcy process to get a fresh start in life. 

 

Fortunately, for at least two dozen centuries it’s been recognized that debts can get the better of even the most conscientious among us. From Old Testament times to the present, sane societies have discouraged debtors from falling on their swords and provided sensible ways for debt-oppressed people to start new economic lives. Here in America, this process is called Bankruptcy. Bankruptcy is a truly worthy part of our legal system, based on forgiveness rather than retribution. Certainly, it helps keep families together, keeps the ranks of the homeless from growing even larger, and even reduces suicide.