Will there be a change of perception of BKs?

[OhioFiler]

Trump's casinos just filed BK. Paul Allen's cable company just filed. GM is on the brink. There is no real stigma.

When the housing market began to crash people started walking away from their mortgages. I don't think anyone stigmatized those folks.

I think doing a BK now is smart. We'll be much better off as we go through this recession than our friends and neighbors who continue to struggle for the next couple years.

Finally, I don't care what perception ANYONE has of me (except my lovely wife of course). Your perception of me is your problem, not mine!

[cursedbycc]

I actually told my mother in law on the phone last night that I was going to be talking with a BK attorney next week because I was contemplating filing for BK (just myself, not my husband) and I didn't feel ashamed at all!!!! If it were a few years ago, I would be oh so ashamed and would be mortified if anyone in my family knew!!! Times are changing and I wish I did not have to go the route of bankruptcy, but I just might have to....

My mother in law doesn't even understand bankruptcy and I'm sure that she isn't alone. She said to me, "oh, doesn't that ruin your credit forever"? I had to enlighten her a little and now she is a little more educated when it comes to what bankruptcy is about and how it affects those that have to go that route.

Anyway, I haven't filed yet (my big concern is my house since I am on the mortgage along with my DH) -- so if I get to keep my house and my car, I will file BK7. Me and my DH have not missed a payment on any of our bills, although if we didn't have our savings, we would not be able to pay anything!!!! He's on unemployment and I've been unemployed for 2008 (and I actually worked for the month of January this year but it was only a temporary position)....

Anyway, my take is that there are more people that "should" be filing bankruptcy due to the economy that have as of yet -- the statistics for 2009 will be out of this world I'm sure...

[mkuki]

Aw Muki, I am sorry, I should have qualified the term "underprivileged" when I used it. The intent of using the word had nothing to do with money or your six figure salary.

Thank you once again for "correcting" me and drawing my attention to my error.

While your advice has been appreciated when valid, please keep your snide, back handed apology to yourself. I am proud I make six figures (there's others who make more), but you dont hear me whining of how "my taxes" are helping others.

If I take the liberty of reading into your handle, I take it you are in Florida...so can I claim that you are really claiming to pay taxes when we all know Florida does not have income taxes?

I say to you...grow up, keep your misdirected assumptions about others to yourself...no need to show shallowness. If you can offer valid plan of action to fellow bloggers, then cool, but if my view of BK is different to yours, just take a chill pill, then go take a dump somewhere else.


Oh and by the way, OhioFiler has a point...and I approve his position...

Trump's casinos just filed BK. Paul Allen's cable company just filed. GM is on the brink. There is no real stigma.

When the housing market began to crash people started walking away from their mortgages. I don't think anyone stigmatized those folks.

I think doing a BK now is smart. We'll be much better off as we go through this recession than our friends and neighbors who continue to struggle for the next couple years.

Finally, I don't care what perception ANYONE has of me (except my lovely wife of course). Your perception of me is your problem, not mine!

BK for me, is "starting over", and also, hedging against an ever deteriorating economy...so if I can discharge my debts and start rebuilding my nest egg and doubling up my savings rate for a rainy day, then I will explore that option to the fullest...without remorse, or guilt...it's all about the bottom line...my bottom line...

[CatsInTrouble]

Exactly Cat, unfortunately many of us come to this conclusion after all resources are dry and found this site AFTER we made the mistake of depleting everything. Better late than never, though. We still get our fresh start.

well I won't take any credit for being "smart" as we did depelete a LOT of my husbands retirement account trying to stave it off. I wish we knew better.