People that I talk to almost all feel bad about their financial situation and often they will say to me that they think that they are going to have to file bankruptcy even though they say that they know it is unethical or morally wrong. “It’s not the way I was raised!”

And then, as I spend some time finding out about their situation, I find out that they have had bad things that have happened to them like uninsured medical expenses, loss of employment, divorce or a business failure. A lot of people these days have been affected by the COVID-19 crisis. So many people lost their jobs or saw their business go down to nothing overnight. 

So is it unethical or morally wrong to file bankruptcy? 

We as a society have made the choice, the right one, I believe, to give people a way to get a fresh start. Bankruptcy is the law of the land for a reason. And that is because many, many good people find themselves deep in debt and desperately in need of a way out, a way back to a normal financial existence. And it is not just the people in debt who are at risk but everyone who depends on them financially and emotionally. 

Bankruptcy is a trade off, with benefits and consequences. It isn’t a one way street but it may be the only way to peace of mind and freedom from crushing stress and even depression. 

So bankruptcy can make you whole again and let you again be part of society and the economy. It can let you support your family and plan for your future in a way that otherwise would not be possible. And for many seniors, it can let you retire at peace and financially independent instead of being a burden to your family.

      

So the answer is that bankruptcy can be an ethical and moral choice.

As Eugene, OR bankruptcy and debt relief attorneys, we help people all over the state get the answers to their questions about bankruptcy and tax collection settlements. We handle a lot of cases from the coast, from Lincoln City to Bandon and Gold Beach. We have helped many families from Corvallis, Albany and Roseburg. We can help you too- all you have to do is call!