Asian Journal- The Filipino-American Community Newspaper

"I CAN’T believe this is happening to me. Life’s not fair. I haven’t done anything bad. Why do I feel like I’m being punished for something I didn’t do?" These are words I often hear from clients who come to me for bankruptcy advice. Some people are quick to judge- until one day they find themselves in the same situation. Contrary to what others may think, most people who file for bankruptcy are honest, hardworking individuals who simply need to get a fresh financial start. Yes, they are your normal, everyday folks- just like you and me who have jobs and families. They may go to the same church that you go to. They could be you r next-door neighbor or your coworker. No one- absolutely no one- is ever exempt from the uncertainties that life brings us.

At one time or another in your life, you may face debt problems that you don’t know what to do about. You may find yourself unemployed, sick, in the middle of a painful divorce or in a failed business venture. Recently, a couple came to me and told me how they invested their entire life savings of 20 years in a business that failed almost overnight. They never made a penny from day one. They poured their heart and soul into this business- only to watch it go up in smoke. Their world has fallen apart right in front of their very eyes.

We are living in tough economic times. How many people do you know at the moment that are living from hand to mouth, perhaps eking out a living by working 2 jobs with still "too much month at the end of the money?" My neighbor was recently laid off after working more than 12 years for his company who recently decided that they couldn’t afford to keep him anymore. You may know several people right now who are going through foreclosure and for the first time in their lives are facing the prospect of being homeless. It seems unthinkable, almost impossible for this to happen to you or someone close to you. Often, we can imagine these things happening to other people but we have never entertained the idea of them happening to us. Then one day, life throws us a curve ball.

The "fresh start" concept of bankruptcy is based on the idea of forgiveness. The honest debtor who lacks the resources to pay back creditors is given a chance to start a new life free from the burden of debts. What a concept! Do you realize where most people would be today had they not been given, at some point in life, a second chance that they so badly needed in order to start life over? I think our very own U. S. Congress realized this more than 100 years ago and thus enacted bankruptcy laws that will help debtors who are in genuine need of debt relief. These laws were passed to help, not hurt you.