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4. Is it Morally Wrong to File for Bankruptcy

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Hi I’m attorney Kevin Williams, and I’d like to talk to you about the morality of filing for Bankruptcy?

We all have to make assumptions about what the future holds. How strong will the economy be? How secure is my job? How much will my house be worth?

Most of the time we’ re correct. But, sometimes our crystal ball turns out to be a little cloudy.

That’ s what happened to General Motors. I’ ll bet you GM has dozens of economists with doctoral degrees. But those folks never thought gas would skyrocket to $4.50 a gallon in a matter of weeks and kill demand for SUV’ s and pickups, GM’ s most profitable vehicles.

Like GM and millions of other Americans over the past three years, many of the assumptions you likely made regarding your financial future proved to be incorrect due, largely, to circumstances outside your control. The collapse of the real estate, credit and financial markets – and four dollar and fifty cent gas -- were impossible to predict.

So perhaps its time to make a business decision – not a moral decision – to restructure your finances. And that’ s what bankruptcy is -- a business decision. Bankruptcy is a financial management tool which will help you take control of your financial future again.

Filing for a bankruptcy doesn’ t make you bad, irresponsible or immoral. By making a decision to take control of your finances you are being responsible for your future and your family and you are ensuring that you will have the opportunity have a good, fresh start.

Still not convinced? Well, how about a little scripture? The consistent teaching of both the Old and New Testaments is that compassion, mercy and justice are to override purely economic concerns, such as loans. Like Deuteronomy Chapter 15 verse 2: "At the end of every seventh year you must cancel your debts. This is how it must be done. Creditors must cancel the loans they have made to their fellow Israelites. They must not demand payment from their neighbors or relatives, for the LORD's time of release has arrived.”

Just Google “ bankruptcy bible quotes” for more and recognize that there is nothing more immoral than suffering so that bank executives can fly around in their private jets. As a matter of fact, they’ re going to be jetting around even after you have your debts discharged, so your financial restructuring really doesn’ t make any difference to anybody – but you and your family.

Our firm has extensive experience in assisting people just like you with a customized, personal, goal-based approach to bankruptcy, debt relief and other financial improvement tools. If you’re in Middle Tennessee, please call me today at 615-264-8249 for a no-charge consultation to answer any questions you might have.


©Copyright by Kevin T. Williams. All Rights Reserved
Admitted to practice in Tennessee and Virginia.
Not certified as a Consumer Bankruptcy Specialist by the Tennessee Commission on Continuing Legal Education and Specialization.
Debt relief and bankruptcy practice limited to Tennessee.
This web site is designed for general information only.
The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
We are a debt relief agency. We help people file for relief under the bankruptcy code.