Filing for Bankruptcy
Financial problems are one of the most stressful things a person or couple can go through. These problems are multiplied by the guilt that often comes with not being able to pay the bills, and the pride that often prevents people from asking for help. Many times, simply admitting that a person needs help with their finances, and talking to an attorney about bankruptcy helps relieve the stress.
The Guilt of Bankruptcy
Change is never easy. Over the years, I have heard many reasons why someone is reluctant to file bankruptcy. Many people feel guilty about filing bankruptcy. They feel that they are being bad people for not paying the debts that they owe. The law governing bankruptcy is found in Article 1, Section 8 Clause 4 of the Constitution of the United States. The Constitution authorizes Congress to “enact Laws on the subject of Bankruptcies throughout the United States”. Bankruptcy is also found in the Bible. Deuteronomy 15:1-2 states “at the end of every seven years, you shall grant a release of debts. And this is the form of the release: Every creditor who has lent anything to his neighbor shall release it; he shall not require it of his neighbor or his brother, because it is the LORD’s release.”
The concept of bankruptcy goes back thousands of years, and is a fundamental tenant of the law as it has developed over the millennia. The purpose of bankruptcy is to acknowledge that people sometimes get over their heads with debt, and need a fresh start. I often tell my clients that they have to think of their financial lives as a business venture, and the decisions they make regarding their finances should make business sense. A business has no guilt about filing bankruptcy. A business realizes that bankruptcy is a tool in its financial toolbox to be used when it is necessary and makes business sense. When you overcome your pride about asking for help, and the guilt associated with getting in financial trouble, you can more objectively and rationally consider your options. We will explain all of your options, and walk you through every step of the process to get you back on your financial feet.