Do you need a “mulligan”? How about a do-over? Try bankruptcy. It gives you a fresh start.

According to Wikipedia a “Mulligan” was first used in the game of golf.  According to one version of the story the name came from a Canadian golfer who during a golf game claimed the right to hit the golf ball a second time after his first errant shot.  His friends then decided to call this a Mulligan and so was born the name.  It is also called a do-over and other sports have picked up on this concept and gone with it to allow players to re-do a bad play of some sort.

If its good for sports then how about you?  Everyone makes mistakes in life so why should financial mistakes be any different?  People borrow too much from credit cards or buy cars which are too expensive or buy houses that are too large.  Some people buy these things and then lose their jobs and then can’t afford to pay for them.  Others start businesses with every intention to make the business a success but then the business fails for some reason or another.

The point is that people make mistakes.  Some mistakes are forseeable and others are not but all humans are fallible.  We forgive people in sports and in other areas of  life so why not forgive them with their financial mistakes.  The Jews in the old testament forgave debt every seven years.  They knew back then that people without debt were better members of society than those with debt.  They were happier, more productive, and more of an asset to society when their debts were wiped away.  This type of debt forgiveness is as old as the bible itself.  (See here for my blog about bankruptcy and the bible).

Bankruptcy has been in the western world at least since the middle ages when the Venetians used it to stop doing business when they were broke.  It was used in England for many hundreds of years and it came over to America where it has been used extensively for businesses and individuals.

Bankruptcy became the preferred choice for many with large debts.  It is true that a stigma of failure attached itself to bankruptcy which caused many to avoid this choice for longer than they should have.  That stigma is still around today but as many see corporations emerging from bankruptcy stronger they say why not using bankruptcy to liberate individuals.  Why not use bankruptcy to clear out your own debt and to give you a fresh start?

Bankruptcy allows you to wipe away old debt that you cannot possibly pay and get a fresh start.  So if you need a Mulligan, a do-over, or a fresh start without debt then consider bankruptcy.  We forgive all kinds of mistakes in society so why not your financial ones.  You may have had the most honest of intentions when you incurred the debt but things did not work out.  Sometimes the reasons for your financial troubles can be totally beyond your control like the current recession.

So file bankruptcy and lose these debts and give yourself a much-needed Mulligan.  You, your family, and the whole of society will benefit from your decision. (See here for my article on 12 reasons why you should file bankruptcy).

I am a San Diego bankruptcy attorney.  For further questions please visit my websites at www.farquharlaw.com or www.freshstartsandiego.com.  Or call my office for a free consultation or advice about bankruptcy or debt at (619) 702-5015.   Call now for free credit report and analysis! For a free e-book on “13 things to do to prepare for your bankruptcy filing” please e-mail me at farquharesq@yahoo.com.

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