Written by Craig D. Robins, Esq.
From time to time I have a client who expresses guilt about filing for bankruptcy and walking away from their debts. However, they should not feel guilty. The government put the bankruptcy laws in place for good reason.
Society needs a way to enable people to hit the reset button and start over when necessary. When a consumer gets overwhelmed by debt, and they are clearly over their head, that’s the time for them to consider bankruptcy as an option for relieving their debt situation.
The concept of bankruptcy began with provisions in the bible which permitted one’s debts to be forgiven every so many years.
Unless someone is abusing the system, the should not feel guilty about filing for bankruptcy.