Recently there was an article in Newsweek entitled just walk away. The article recommends filing bankruptcy in some circumstances and doing it sooner than later. The article discusses the humiliation often associated with filing bankruptcy and points out, correctly, that the purpose of getting a fresh start is to stop self blame and helplessness and give yourself a second chance. Most people contemplating bankruptcy are at the end of their rope and there is little else they can do to write their economic ship. But filing chapter 7 isn’t the end of the world, it’s a new beginning, and in this era of financial crisis, rising unemployment and decreasing house values, it may be the best thing to do.

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