Is it Wrong to File Personal Bankruptcy?
This is a common question. You know you owe the money, and you feel guilty that if you go bankrupt you are hurting your creditors.
If you have committed fraud by deliberately running up your credit cards when you knew you couldn't pay them, then yes, that is fraud, and that is wrong.
Most people, however, intended to repay their debts, but then they lost their job, got divorced, or had a medical condition that prevented them from working, and they got behind on their bills. Once your wages are garnisheed, for many personal bankruptcy may be the only option.
Before you make the final decision, consider all of your bankruptcy alternatives so that you are making an informed decision.
This is a common question. You know you owe the money, and you feel guilty that if you go bankrupt you are hurting your creditors.
If you have committed fraud by deliberately running up your credit cards when you knew you couldn't pay them, then yes, that is fraud, and that is wrong.
Most people, however, intended to repay their debts, but then they lost their job, got divorced, or had a medical condition that prevented them from working, and they got behind on their bills. Once your wages are garnisheed, for many personal bankruptcy may be the only option.
Before you make the final decision, consider all of your bankruptcy alternatives so that you are making an informed decision.
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