Why Do My Friends and Family Try to Talk Me Out of Bankruptcy Once I Tell Them I Am Considering Filing?
Our friends and family have our best interest at heart. They just don’t know the facts about bankruptcy. They are watching those same late night ads from the consolidation companies and are frightened by the thought of bankruptcy. Only those who have gone through the process know how simple it is and how it helped them to regain control over their financial lives. Also, information gets misreprented like the old game “wisper down the lane”. One friend may have heard their neighbor say they filed for bankruptcy. Then sometime later they find out that their neighbor let their house go into foreclosure and decided to surrender it. They may think that their neighbor had to because of the bankruptcy. But that is not the case. The neighbor most likely already decided to surrender their home since many today have upside down equity in their homes and filed for bankruptcy to wipe out the mortgage arrears along with other debts they most likely had accumulated.
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