Here is something you don't expect to hear people say, "If you file bankruptcy your life will get better."
Well, I did file bankruptcy and my life did get better. Within three years after our bankruptcy we had purchased a house and before that had rebuild great credit using secured credit cards.
In fact for me, my financial failure and bankruptcy became my greatest strength in helping people. Without my personal bankruptcy I wouldn't be here helping you.
Want to know the one thing I would change about the process? Without a doubt I'd have eliminated all the fear, shame and stress that came along with filing bankruptcy. All of that was created by my silly unfounded assumptions about life after bankruptcy. None of it was based in reality I would come to find out. My bankruptcy attorney just did a lousy job helping me overcome my incorrect assumptions about bankruptcy.
Famous People That Filed Bankruptcy
When you file bankruptcy you join a whole host of others who have lived through the financial tough times and survived. Not only will you have joined me in that bankruptcy club but also some others you might recognize like Larry King, Mike Tyson, MC Hammer, Willie Nelson, Walt Disney, Jerry Lee Lewis, Elton John, Dave Ramsey, Thomas Jefferson, Abraham Lincoln (essentially), Henry Ford, President William McKinley, Milton Hershey, Rush Limbaugh, Burt Reynolds, H.J. Heinz, P.T. Barnum, Charles Goodyear, and on and on and on.
Bankruptcy Isn't the End of Your Life. It's the Beginning of the Next Chapter.
I've been helping people with tough debt problems since 1994. In all those years I can count on one hand the number of people that played the system. All the other thousands and thousands of people that filed bankruptcy, needed to in order to restart their lives.
Nobody runs out and says I'm going to make mistakes and be the subject of an accident, illness, job loss, or natural disaster so they can wind up in bankruptcy. Stuff just happens.
Would you rather be poked in the eye with a sharp stick instead of filing bankruptcy? How about lose the love of your life? There are lots of things that are worse.
Let's look at what filing bankruptcy actually means. It means you are seeking the legal protection afford to you under the law so that you can get a second chance and a fresh start. It is a road from an impossible financial past to better financial future so you can financially protect your family better and move forward with your life.
The decision to file bankruptcy should be a celebration, not a wake.
Filing bankruptcy means you accepted responsibility for your financial mess, took action afforded to you under the U.S. Constitution and have made the decision that doing better is the best revenge against failure.
The question you really need to answer is this, "Do you want to spend the next five years trying to fix your financial past and struggle or the next five years building a stronger financial future and creating a safety net for you and your kids?"
Popular Bankruptcy Myths
So often I hear people say things about bankruptcy out of total ignorance. They make these statements from assumptions, not reality.
If you want to read the growing list of the most common bankruptcy myths, click here.