Last year the number of people who filed for bankruptcy rose again higher than the previous year. Analyst forecast that in 2009 we will see that number surpass that of 2008. I can see that since so many individuals are losing their jobs and many are having a trouble making mortgage payments.
People are scared and are looking for a quick way out of financial mess. Filing for bankruptcy may seem like an easy way out in fact people throw it around these days like they do ‘divorce’. Well it doesn’t work out then there is always ‘divorce’. Such a sad time that we live in. Can you imagine saying this to another person, well if you can’t make payments then just file for bankruptcy. I think this is a poor way of thinking. This is why bankruptcy corrupts. Everyone is looking for a get out of jail free card and thats not the way it should work.
People should be obligated to pay off their debts and the government needs to make it harder for individuals to file for bankruptcy. I can see how who has no way of working because of a physical injury or even a mental injury. But for someone to rack up debt, and say well now I want to start over. That is not right. Personal insolvencies is getting out of control and the government is giving away fish instead of teaching America how to fish.
Handling finances should be the number 1 priority on everyone’s list right now, looking for ways to save and building up an emergency fund. Buying merchandise you cannot afford should not be on your radar. So work on getting out of debt so you can live the way you were supposed to live.
