Even Good People Are Filing Bankruptcy Too

Even Good People Are Filing Bankruptcy Too "The dominant media would like the public to believe that only bad individuals declare bankruptcy. Filing for bankruptcy has acquired a stigma that is associated with failure and dishonesty over time. This is contrary to reality. If you look at corporate America and how they use bankruptcy to eradicate bad debt and contracts they've signed, you'll notice that they emerge leaner and more aggressive. If it is acceptable for corporations to declare bankruptcy, it should be acceptable for individuals to do so without stigma. Until recently, the majority of Americans held a negative view of their neighbors, acquaintances, and family members who filed for bankruptcy. Most people would engage in idle chatter without grasping the core of the issue.People would be less likely to file for bankruptcy if they understood that the majority of bankruptcies in the past were caused by illness resulting in large medical expenses, family dissolution resulting in divorce, and unemployment. None of these causes are attributable to the individual who filed for bankruptcy. The United States received a wake-up call in 2007 when the real estate bubble fell. People who stated in the past that they would never file for bankruptcy ended up in bankruptcy court, wondering how this could have occurred. Approximately one person on every block is now declaring bankruptcy or losing their property to foreclosure, and this trend has now reached the mainstream. According to the mainstream media, the unemployment rate is presently 7.4% and does not appear to be declining any time soon.The only thing currently keeping this economy afloat is credit card loans to individuals who cannot afford them. With QE3 and QE4, the Fed continues to inject money into the economy through quantitative easing. They announced that this must end in the near future. Those who live on credit and borrow themselves into oblivion will be shocked when their creditors cut off their cash flow. When quantitative easing ends, it is anticipated that interest rates will skyrocket, causing uninformed skeptics to declare bankruptcy. It's not that these individuals are bad or doing anything wrong; they simply believe the misinformation that the mainstream media is spreading. Numerous experts predict that the current situation is the calm before the storm. What occurred in 2007 will be incomparable to what occurs in the future. It will not only affect the U.S. economy, but every economy worldwide. Before it is too late, those living far beyond their means on credit should consult a bankruptcy attorney.
" - https://www.affordablecebu.com/