Seymour's Blog

"Are You Ashamed to be in Debt?"

The vast majority of people that come to my office to discuss bankruptcy feel horrible or even worse. They are honest, hardworking people who were brought up to pay their bills. Most can’t believe that they have gotten into such a financial mess. When I talk to them and learn about their individual, unique situation, it is often quite obvious that what has happened to them is not their fault.

They have been victimized and traumatized by the events of our times including mass business closings, mass government and corporate cut backs, mass layoffs, other serious economic problems caused by business and government corruption and other events over which they have absolutely no control whatsoever. They have been victimized by the trickledown effect. The poor decisions of people in much higher places have resulted in massive pain and suffering cast upon the hardworking, honest people who make up the back bone of this great country.

It seems like every major corporation has gotten government bailout. Well, where is the bailout for Mr., Mrs., Miss, and Ms. Honest Hard Working American Citizen?

Most people with financial problems that come to see me have tried almost everything. They have spent money on debt consolidation, they have tried to settle with their credit card companies, they have tried credit counseling, you name it.

Unfortunately, many of these people have been shamelessly scammed by trained con-artists who have learned how to persuade these people into believing that they hold the magical keys to unlocking the doors of financial distress.

When these people come to see me, they normally realize that bankruptcy is their only real solution, but they feel so badly that they have to file bankruptcy. They feel that there is a stigma and shame involved in bankruptcy.

Well, there may have been a stigma in the bankruptcy back in the 1950s, but this is now sixty years later, and a totally different world.

I remember when I first started practicing in the 1970s, one of my friends was becoming a bankruptcy specialist. I knew very little about bankruptcy at that time. I remember him saying that in a few years bankruptcy was going to be just like divorce.

We talked about how people were always so ashamed years ago when they went through a divorce that they tried their best to keep it a secret. Now, it seems that everyone is getting divorced.

My friend predicted the same thing about bankruptcy in a few years. He said that people would be talking to each other, and they would be saying “What? You mean you haven’t filed for bankruptcy yet?”

Well, he was definitely ahead of his time, and I believe that in the year 2010 close to two million people will be filing for bankruptcy. It is perfectly legal, moral, ethical, and an honorable way to deal with your debt.

Why not ask people like Donald Trump, Walt Disney, Henry Ford, HJ Heinz, President Thomas Jefferson, Willie Nelson, Larry King, Burt Renolds, Wayne Newton, and so many other thousands of famous people who have filed for bankruptcy and thereafter became financial successful and great contributors to our society, to our world, and to our culture?

CNN is constantly running stories on how bankruptcy has pretty much become a way of life in this country. It is a tool of financial planning for businesses and individuals. They tell millions of people in this country, just as I have been telling tens of thousands of my clients for years, “There is no shame or stigma in bankruptcy”.

If you are saddled with substantial credit card debt and other bills that you can’t pay, how would it feel to know that within four months, all of those bills can be legally wiped out by the federal government, and that you have nothing standing in your way toward a much brighter financial future?

Do you feel bad for those multi-billion dollar banks and credit card companies?

Or do you feel great knowing that you can now have immediate debt relief and immediate stress relief, and no longer have to worry about those phone calls, letters, or law suits?

Why not check out the rest of my website, www.WipeOutYourBills.com and you can learn a lot more. Feel free to call me at 856-696-8300 with any questions or comments.