I was recently asked by the guys from the Debtology website to write a guest post in response to an earlier article on the subject of bankruptcy (‘Bankruptcy – what IS the big deal?).
In my piece I talk about why we need our easy bankruptcy laws and also about how attitudes toward debt and bankruptcy are changing.
If you are thinking about going bankrupt but are maybe worried about how you will be perceived, then you should definitely have a read.
The article is available here.
PS. If you are worried about debt and in need of free debt advice, then perhaps the guys from Debtology can help.
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October 20, 2011 at 9:24 am
should i file bankruptcy
I had no choice but to file for bankruptcy protection. I had racked up over $200K in medical bills that I simply cannot pay for. I actually tried one of those debt consolidation/reduction providers, which was able to negotiate the medical bills to about $100K. I do not have any emergency savings that can cover the medical bills and with current work’s salary, I can only pay back about $250/month. A simple calculation will tell you that it will take over 33 years to pay back the entire $100K. Given that I cannot possibly payback all the medical bills, I believed that my only choice is to file for bankruptcy. Even though I hate to stiff the doctors for the money I had incurred over the years, but for my own financial well-being, this is the best thing that I can do for myself.