Is It Unethical to File Bankruptcy?
When dealt the possibility of filing for personal bankruptcy, handling the shame and failure is the most difficult. To know that people will be judging you, assuming you are a failure. Knowing that friends and family may think you are taking advantage and took the easy way out when you could have paid your debts like everyone else is required to.
Bankruptcy is not a free ticket to buy whatever you want and not have to pay it back. For the majority of Americans, they are not taking advantage of the system. There is a small minority of people who rack up thousands in credit card debt, and file bankruptcy repeatedly all while keeping the items they purchased.
Job loss, medical bills that are not covered by insurance and divorce are the main reasons for the majority of Americans end up filing for personal bankruptcy. Many times, its a combination of reasons.
I know because I was very judgmental of those that filed personal bankruptcy. I assumed they were blowing money on luxuries that they couldn’t afford. I thought they were spendthrifts who just wasted their money. I judged them for not living within their means.
As I was getting ready to file for personal bankruptcy, and I needed to look within myself, feeling my own shame that I had judged others so critically, and I figured others were going to think the same things about me. As I struggled to overcome my own personal shame and failures, for not planning for the challenges that may happen in the future, the disgust from seeing my name listed as public record in the newspaper, knowing the whispers of friends, family and colleagues whod seen my name in the newspaper, the gossip going on about me.
Do not let the whispers and harsh criticisms stop you from determining the best decision in regard to your family. No one is responsible for your family but you. So are a financial failure when you file for personal bankruptcy? Is it unethical to discharge your debts when everyone else is required to pay for theirs?
Once I looked deep within myself, I decided that I was going to face failure and take responsibility for my financial missteps. For the bill collectors to call from sun up to sun down, should that be ignored? to night. To tear up the collection notices that are in the mail everyday is irresponsible. You are a failure of you kid yourself about the debt you have created. I was a failure to my family for not properly preparing for retirement, or college or a savings account. Not being able to provide the things my children needed, like school clothes, made me a failure.
By filing personal bankruptcy, I was able to correct my failures and begin over again with a fresh start. I was a failure to ignore my financial problems and was a failure by not fixing them. Quit being a failure and take the necessary steps to repair your familys future.
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