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To File or Not to File

Bankruptcy and Our Future Financial Health

Filing for bankruptcy is a serious step, one that brings with it some long-term ramifications. So, it’s a decision we debtors must consider carefully, and then consider again. In this chapter, my goal is to deal primarily with the decision of whether to file or not.

Do I File for Bankruptcy?

The first thing to know about bankruptcy is this: It is institutionalized debt forgiveness. In other words, our culture acknowledges that sometimes people need an “out ” when they have made the huge mistake of large-scale debting and there’s no other solution. For example, did you have a ...

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