You Have To Have Thick Skin to File Bankruptcy

You Have To Have Thick Skin to File Bankruptcy "For many people in the modern era, it is an all-too-familiar scenario that their monthly expenses never cease and their debt continues to grow at an alarming rate. For many, living paycheck to paycheck has become the norm, and they are one unforeseen financial event away from financial ruin. When faced with a choice between paying the debts and keeping a roof over one's head and food on the table, creditors will always take second place. Especially when creditors continue to call and beat the debtor like a hired steed. Creditors no longer have scruples, and it appears that nothing is off limits when they are attempting to collect money from a person. One must remember that these parasites are paid based on the amount they collect, so they will say or do anything to convince an individual to give them a few dollars. Some have been known to threaten individuals with imprisonment for nonpayment of debts. When this occurs, individuals must develop a thick skin and inform the offender to pound sand. When all of this is occurring, there is no dishonor in declaring bankruptcy to get out from under unmanageable debt at this time. Bankruptcy was established specifically for individuals like these.Bankruptcy is a legal procedure that enables honest, hard-working individuals to eliminate overwhelming debt and start anew financially. For some, bankruptcy carries the same negative stigma that it has always had, but for the younger generation, it is a means to start over. By no means is this a valid justification to declare bankruptcy. Bankruptcy should only be used as a last resort when there is no other way out of debt. After receiving a bankruptcy discharge, this person should learn from their errors and avoid repeating them, as so many do.In these difficult economic times, many corporations are registering for bankruptcy in order to restructure and possibly emerge with a fresh start. Even cities are in a position where filing for bankruptcy is their only option. Corporations and municipalities have been burdened with unworkable employment contracts. Because the unions are unwilling to negotiate, corporations and cities equally must declare bankruptcy in order to terminate these labor contracts. They are not joking when they claim it is unsustainable. The arrangements made over the past decade for municipalities and public employees are absolutely absurd. Who in their right mind believes that they should be able to retire at age 50 with 90 percent of their income? As soon as these pensions begin maturing, simple math will demonstrate that this will result in a cataclysmic financial catastrophe.Why do individuals experience shame, embarrassment, or guilt when they cannot fulfill their obligation to repay their creditors? Is the concept that a person's word is their bond unique to the United States? I don't believe so; I believe it's more of a matter of pride, since commitment is not a virtue in today's generation. Regardless of your personal values or sense of dignity, you must develop a thick skin and not allow feelings of shame to influence your decision to get out from under a pile of unsightly paper. People in financial distress should set aside their emotions and allow bankruptcy to provide a second opportunity.
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