Bankruptcy: A Financial Do-Over

By admin • June 22nd, 2010

I sit across from a lot of people that never expected to be in my office discussing financial hardship.  The great majority of my clients enjoyed gold star credit and stellar earning power not very long ago.  The downward slide of the economy has affected every segment of society.  Crippling credit card debt, upside down home mortgages and wage garnishments are commonplace and affect even the previously immune.

Bankruptcy is a financial do-over.  Professional tennis players get 2 chances to make the serve.  There are 3 strikes before a batter is out and cries of “do-ver” permeate every playground from handball to hopscotch.  There’s no shame in hitting the reset button and starting again.  In fact, it’s often the wisest thing you can do and the only way to really move forward.   In the do-over you have all the collected wisdom of the first go-round at your disposal and that’s exactly the design of bankruptcy.

 

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