Is there anything to be ashamed of if I file for bankrupcy? Corporations do it all the time and we taxpayers bail them out.
August 5, 2010 Leave a comment
No! You have legal right to do so. When you file bankruptcy you are doing something legal, ethical, and moral. There is no shame in it and you can hold your head high after you file because you did the right thing. In fact discrimination against you because you filed bankruptcy is illegal. You cannot be fired from your job or be thrown out of your house or apartment because you filed bankruptcy.
Also bankruptcy is something that is done all the time by large corporations. Even the banks that you owe money to go bankrupt and discharge at least part of their debts. I advertise with IDEARC (which is now called Superpages) and they went bankrupt but they did not miss a beat when they came to collect what I owed them. I got no bailout on my debt but they did with their bankruptcy.
The very same banks that you owe credit card/line of credit debt to will go bankrupt whenever they get in a tight situation. It’s in fact considered just a good business practice for these corporations to go bankrupt, shed and reorganized their debts, and then move on with a lessened debt load so they can function. But rest assured, like with IDEARC, they will not forget about what you owe them. They will still come after you to collect what you owe them!
Remember too that your tax dollars go to bail them out. When they can’t pay their bills they extend their hands to the politicians and they get money thrown their way. How about if you try that next time you can’t pay your bills. The truth is that you are not going to get anything unless you become a mega-corporation.
Bankruptcy is in fact your bailout. There is no shame in it in fact it is the only chance you will get to receive help with your bills that you can’t pay. Go ahead and file if you need to and be proud that you made a smart decision.