G Is For Guilty
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Most of us have been taught to pay our bills.
If you borrow money, you should pay it back. We get mad at our “friends” who don’t pay us back.
Whether it is money for furniture, a truck, a car, a boat, a house, a vacation, a student loan to get through college, or a loan from a friend or relative. We are supposed to pay it back as promised, or, at worst, when we can.
I tell my clients who file Chapter 7 bankruptcy, if you get the money later, you can pay back whoever you want.
Filing bankruptcy does not prevent you from paying your debts, it gives you relief from oppressive creditors.
Some clients told me last week they were feeling so guilty, even though they have no choice.
People who file Chapter 7 bankruptcy do not have the money to pay their bills, whether they file or not.
Hey, I tell clients there is something wrong with them if they are happy about filing bankruptcy> No one picks up that high school diploma and turns around to tell everyone their goal is to end up in a bankruptcy lawyer’s office X years down the road.
The essence of the Judeo-Christian ethic to forgive.
Most, if not all, of us would rather be in the position of forgiving a debt owed to us, than seeking forgiveness of a debt that we owe.
It is that pride thing.
Well, with the economy still in the toilet – what to do about it?
The things I hear:
“I never planned on this.” “I never thought I would be thinking about this.” They do not even want to use the word “bankruptcy.”
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The book of Deuteronomy speaks to these points:
“At the end of every seven years you must grant a remission.
Now the nature of the remission is this:
every creditor who holds the person of his neighbor in bond must grant him remission; he may not exact payment from his fellow or his brother once the latter appeals to Yahweh for remission.”
In lieu of direct appeals to Yahweh, we have bankruptcy courts, established by Congress as required by the Constitution. The sad fact is, those who file bankruptcy do not have a choice, they do not have the means to repay their bills, it is not as if the creditors get paid if they do not file.
It is not fun, but bankruptcy is not only legal, but, more importantly, it is also moral and ethical.
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