My opinion, no. But each consumer should seek their own guidance on this one. Let’s face it, attorneys are not often thought of as a source for moral guidance.
Bankruptcy is an important decision, not to be taken lightly. Filing bankruptcy is a math problem, not a question of morals. But there are a lot of factors to consider, such as how it will impact the interest rate of loans you need in the future, a home purchase, student loans you have or may need to get, whether now is the right time to file, and so on.
If we have filed a lawsuit or garnishment and you are now considering whether you should file a bankruptcy, call us to discuss your circumstances. In many cases my clients can offer repayment terms that allow you to avoid bankruptcy.
Every situation will have unique facts that will impact the outcome. Blog entries are intended to be informative, the entries do not constitute legal advice. If you call me about a case and I represent the creditor, I will not be able to give you legal advice during the call. But I can discuss the debt with you and try to find a solution beneficial to you and my client.