I am always confused by the statements of people who use terms such as bad, immoral, stupid or some other derogatory phrase to describe someone who has filed for bankruptcy. These are the same people who think that Delta, General Motors and Hostess Cupcakes did the smart thing by filing bankruptcy.   These and many other businesses take a cold hard look at their financial obligations and make the decision that the business cannot continue with the current liabilities owed.  People then say that filing bankruptcy was the smart thing to do and it saves the jobs of many people and the lives of many families.

My question to you is similar.  If you cannot pay your bills, but, keep trying, who are you helping?  The creditors for sure, but, are you helping your family?  The strain on a marriage where the finances are bad is horrible.   Do you really intend to deprive your children, your spouse or yourself so you can pay your creditors?  Even if you deprive your your family and yourself, will you have enough money to make the creditors happy?

The companies I mentioned at the beginning are some of many that have successfully reorganized.  There are many other companies that have not been successful in their attempts to reorganize.

These companies did not let embarrassment or fear of what others might say keep them from making a tough choice.   These companies knew that if they continued on their present course of action, the company would be out of business.   Are you going to make the decision to stay in business or go out of business?

About Nathan Davis, Esquire

Born in Charleston, South Carolina, Nathan Davis has been practicing law for many years. Mr. Davis has a wide variety of experiences having practiced domestic relations, criminal law, social security law having also practiced collection law in the past. This knowledge is helpful when someone needs to restart their financial life. The practice is now primarily bankruptcy and debtor representation work, but, Mr. Davis continues to also practice real estate law, trusts and estates and a general litigation practice. I believe that the most important part of representation is trying to leave you better off when the case is finished than when you started. Although I will do as my client directs, I will always tell you if I think that you are making a mistake. Bankruptcy is about a "fresh start". If you do not make changes in what you are doing, you will be doing what you are doing now in the future. There is no shame in bankruptcy or other steps that you may take to start your life over. Too often, people worry more about things than about themselves, their family or their future.
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