Each time a U.S. bankruptcy court asked for an itemized listing of all of the assets my family and I owned, it broke us free of the facade associated with the faux middle-class life style by which we had been pretending to reside. Searching via a tally of lent things and hand-me-downs having a web worth of absolutely nothing replaced the pity of failure aided by the realization in the first place that we never made it.
We desired refuge in bankruptcyвЂ™s lore regarding the United states Dream, thinking into the rhetoric of fresh begins and beginnings that are new. But, for millions of families, financial obligation forgiveness is not enough. A bankruptcy discharge can perpetuate the cycle of debt, opening the door to unique yet systemic forms of predatory lending without a sustainable income or other necessities such as adequate health care. (more…)