Harris-Courage & Grady, PLLC
What Type of Person Files Bankruptcy?
The common myth is that only financially irresponsible people file bankruptcy.
This is propaganda the financial industry spends tens of thousands of dollars yearly to promote, and it just isn’t true.
The truth is that most people who file bankruptcy have suffered a serious life event such as:
- job loss
- major illness.
Another common reason for bankruptcy filings is when someone has attempted to help a loved one who committed to repay a debt but then failed to do so.
Most of our clients have tried for years to avoid bankruptcy.
Frankly, most clients wait too long to file bankruptcy and most wish they had filed sooner.
Of course, there are a few who are truly irresponsible with their credit. However, of the more than 10,000 individuals our firm has represented, only a handful were what I consider financially irresponsible.
I have been involved with bankruptcy law for nearly 30 years. I started my legal career representing creditors in bankruptcy for nearly 10 years. I had done very well in law school and was hired by a large law firm to “protect” creditors.
I hated my job because I realized that I was helping take away people’s cars and homes when these individuals were in trouble after losing a job or getting sick or suffering a divorce.
I finally got fed up seeing these suffering individuals get poor bankruptcy representation. I decided 20 years ago to switch sides and start helping people protect their assets and shed overwhelming debt through bankruptcy.
More than 1 million American households file for bankruptcy every year. It’s likely that you know someone who has filed bankruptcy.
If you have overwhelming debt and want a fresh start, call us to make an appointment.