You May Not Have All the Answers but Avoid Bankruptcy
One of the things that drive people to seek and not avoid bankruptcy is not having all the answers as to what do about one’s debt. The problem is that the world we are in today is much different than that of our parents. In their day, people lived within their means more so than they do today. Credit was needed to buy a home, farm, and automobile and not much more. However one thing our parents would always tell us was to pay our debts and always avoid bankruptcy. Yet for those of us with parents who are still living that survived those years, they still don’t have the answers for us. This is even more of a reason to avoid bankruptcy.
Our parents did not educate us for this. They know nothing of the Bankruptcy Reform Act of 2005 which makes for more of a reason to avoid bankruptcy. They will tell you to pay your debts. They will tell you to get another job or sell the second car but no matter what to avoid bankruptcy. They may not be able to help you with budgeting like a credit counseling company could and they may not even know much about how modern day credit cards work. So you probably can’t seek their assistance in the “how” of getting out of debt like you can with a credit counseling agency.
Schools do not educate you for this. Schools never have really educated our youth in life skills. This is even more of a reason to avoid bankruptcy. If schools don’t train you in budgeting and skills you need to stay out of debt then bankruptcy is not the answer. The point here is that you need skills to stay out of debt and out of bankruptcy. Bankruptcy does not teach you these skills. Only something like a good credit counseling agency or a good book on personal finance can teach you these things. Avoid bankruptcy or you will be enslaved to ignorance.
Lawyers and collection agencies depend on your lack of knowledge. The best thing you can do to avoid bankruptcy is to educate yourself on every aspect of credit, debt, and debt management. Don’t depend on a lawyer to help you. The lawyer is only going to take money that could be used for other purposes like buying groceries, putting gas in your car, keeping the electricity on, and of course applying it toward your debt.
When you don’t have an answer then wait. Wait? Yes, wait. Wait until you do have an answer and don’t let anyone else corner you into doing something that is wrong for you. Avoid bankruptcy until you have an answer for your credit card debt. Then, when you have an answer, seek help from a qualified credit counseling agency.
