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You are not a loser because you go bankrupt

September 5, 2017

The notion that you are a failure because you filed for bankruptcy is very old fashioned and irrelevant.

In an earlier blog article, we listed a whole bunch of famous people who filed for bankruptcy, and some of the names are quite surprising. Bankruptcy is a legal process that allows people to solve difficult debt problems.

Although it’s true that you are not a loser if you drag massive amounts of debt around unnecessarily, you might be causing yourself a whole bunch of grief.

People who are most in debt must have (had) high credit scores or they wouldn’t be able to be in debt.  BUt that having high credit scores doesn’t make them a loser – they just have unsolved debt problems.  

Interestingly people who have lots of money and lots of assets don’t need debt, they don’t need credit ratings and most likely have very low credit scores.

If you filed for bankruptcy, you might save yourself up to 375 years (no that was not a misprint) of minimum monthly payments on your credit cards.

Filing for bankruptcy might be a very good decision that provides a great opportunity to break free from the cycle of perpetual debt.

Come on in for a chat and find out about your debt relief options.