Stay away from bankruptcy

[Lyricb]

Yeah, I generally don't condone bankruptcy, because there always seems to be another way to take care of business, although it will take hard work. I agree, though, that there are some instances where it is a viable option, like after a job loss or medical emergency resulting in massive bills.

For people who simply go charge up their cards like crazy then don't want to pay? No, that's not fair.

[Avian]

And not all bankruptcy is totally irresponsible. Chapter 13 is usually just a way to work out a payment plan and start over. Not everyone wants to run away from their debts.

[barbiedoll1973_tn]

My new husband filed bankruptcy back in I think he said 1996 when he was only 19 and its still on his credit I have been told that it should come off this December I hope so gosh 10 years.

[Raquelita]

Bankruptcy is a needed option in our society, although it should not be abused, it does serve a purpose and allow people to start over. A large percentage of bankruptcies are because of medical debt - something people cannot control. If you don't have medical insurance and cannot afford it and get appendicitis, you will be hit with a bill for almost $20,000 - but if you have insurance your bill will be $500-$1,000. I know my husband and I couldn't pay back $20,000 in hospital bills - but we were able to pay our $700 portion of his appendicitis surgery b/c my job offered medical benefits.

We should not look down on people who file bankruptcy, show forgiveness to them as they try to start over, it's not an easy thing to do and is not an 'easy out' like some people think - the record hangs over you for years to come.