On Thanksgiving, I’m mindful of how precious the American approach to hopeless insolvency is: a bankruptcy discharge provides the proverbial fresh start to move forward with life. Money troubles do not have to cloud a life forever.
On the personal level, bankruptcy relief ends worry, stress, living on the financial brink.
On the societal level, a fresh start keeps the indebted from disappearing into the economic underground. It enables people to refocus their financial priorities on providing for family security, health and retirement. It lessens the sting of a failed business venture.
One of my favorite authors, Tom Friedman of the New York Times writes that humane bankruptcy laws are one of the key drivers for success in the global economy.
Personally, I’m thankful for a profession where I can contribute to a better future for my clients.
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