here's my question regarding bankruptcy; in 2005 or 2006, didn't then President Bush sign a law making it harder for individuals and couples (married or not) to claim bakruptcy??
When you have lost it all, what choice do you have? And to top that off, I was told today that I wasn't considered in the running for a job with my local county government, in Arlington, Virginia, because I was "over qualified" to even score an interview. What's an unemployed person to do?
That is what bankruptcy IS, is a way out of financial hardship. I've been through it. It isn't fun, it is demeaning, and it has lasting effects on your credit rating. But when you are dealing with 15 to 20 harassing calls a DAY from collection agencies, you've done everything you can to work out payment plans but get no help from mortgage companies or credit card companies, and you've been diligently looking for work for 8 months or longer, then the options become limited.
Yes, I've known people who have abused the system...you cannot create a system that someone cannot abuse...but for the majority of people who go into bankruptcy proceedings, it is a last resort, not a decision made lightly. My bankruptcy was in 2003, and I'm still suffering from the humiliation, the financial effects, and the loss of self-esteem from it.
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