Don"t Be Embarrassed About Filing Bankruptcy
Even though the number has been declining, over the last five years many Americans have exercised their legal rights by filing bankruptcy.
Just about everyone in the world knows about what happened to the economy in 2007.
This time, it is not local to the US but the whole world.
The central banks of Europe and of the US have signed Americans and the euro zone on to invest in an unsustainable amount of debt through their derivatives.
Now the economy is in the tank and Americans are going broke and having to file for bankruptcy.
People should not be embarrassed about getting caught up in this problem and having to file bankruptcy.
This has affected every group in the US except for the very wealthy.
This group is actually profited from the decline of real estate prices and businesses going under.
Currently, big banks and hedge funds have bought large numbers of beaten-down real estate portfolios.
Now that the market has seen a recent bounce, these guys are seeing the fruits of their labor.
Just like it's always been, the rich get richer and the poor get poorer.
Even though housing is starting to move, unemployment numbers are still at record highs and those receiving food stamps is at an all-time high.
The middle class is going further into debt to sustain the lifestyle they been accustomed to.
All of this only leads to one thing and that's filing bankruptcy.
In the past, creditors have created a stigma about those individuals that are filing bankruptcy.
They want everyone to believe that someone who has to file bankruptcy is a loser and a failure.
If it wasn't for a taxpayer bailout, every one of them would have been wiped out in 2007.
They have no room to be talking down to anyone.
Since Americans did not get a bailout from the federal government, filing bankruptcy is the only way we have to get out of debt when things go awry.
For those filing bankruptcy they are in good company as many wealthy Americans and movie stars have had to use bankruptcy filing because of bad investments.
All you have to do is pick up a newspaper and look at the list of athletes and famous people and how they got into the situation they are in.
People in financial distress need to set their pride aside and not worry about what everyone else thinks.
In most cases filing bankruptcy is not the only choice but the best choice to get out of debt.
It is the only legal process that eliminates all unsecured debt and gives the individual second chance at financial freedom.
Something similar to what all of corporate America does when they get in a bind.
Just about everyone in the world knows about what happened to the economy in 2007.
This time, it is not local to the US but the whole world.
The central banks of Europe and of the US have signed Americans and the euro zone on to invest in an unsustainable amount of debt through their derivatives.
Now the economy is in the tank and Americans are going broke and having to file for bankruptcy.
People should not be embarrassed about getting caught up in this problem and having to file bankruptcy.
This has affected every group in the US except for the very wealthy.
This group is actually profited from the decline of real estate prices and businesses going under.
Currently, big banks and hedge funds have bought large numbers of beaten-down real estate portfolios.
Now that the market has seen a recent bounce, these guys are seeing the fruits of their labor.
Just like it's always been, the rich get richer and the poor get poorer.
Even though housing is starting to move, unemployment numbers are still at record highs and those receiving food stamps is at an all-time high.
The middle class is going further into debt to sustain the lifestyle they been accustomed to.
All of this only leads to one thing and that's filing bankruptcy.
In the past, creditors have created a stigma about those individuals that are filing bankruptcy.
They want everyone to believe that someone who has to file bankruptcy is a loser and a failure.
If it wasn't for a taxpayer bailout, every one of them would have been wiped out in 2007.
They have no room to be talking down to anyone.
Since Americans did not get a bailout from the federal government, filing bankruptcy is the only way we have to get out of debt when things go awry.
For those filing bankruptcy they are in good company as many wealthy Americans and movie stars have had to use bankruptcy filing because of bad investments.
All you have to do is pick up a newspaper and look at the list of athletes and famous people and how they got into the situation they are in.
People in financial distress need to set their pride aside and not worry about what everyone else thinks.
In most cases filing bankruptcy is not the only choice but the best choice to get out of debt.
It is the only legal process that eliminates all unsecured debt and gives the individual second chance at financial freedom.
Something similar to what all of corporate America does when they get in a bind.
