Some economists estimate that for every family that goes bankrupt, there are about 15 more who are in the same amount of financial trouble and would profit from bankruptcy but just haven't filed.
Sentiment: NEGATIVE
By the time most people file for bankruptcy, their credit is already trashed, they have a high debt-to-income ratio - a key indicator lenders look at - and they've likely defaulted on more than a few accounts.
Five thousand people every day lose their home because of a medical bankruptcy. Most of them had insurance.
Bankruptcy is a serious decision that people have to make.
Bankruptcy is about financial death and financial rebirth. Bankruptcy is the great American story rewritten. We're a nation of debtors.
Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.
There are lots of businesses that are well in excess of $9 billion that have gone into bankruptcy, that have been mismanaged. And that has not served anyone very well.
Most women file for bankruptcy in the aftermath of a serious medical problem, a job loss, or a family break up. It is hard to protect against those.
Bankruptcy represents a longstanding commitment in this country to helping people get a fresh start. This principle has never been giving only certain people a fresh start.
I didn't end up going bankrupt... I made some great investments and I held on to my money, which also enables me to have the freedom to do what I want now. But it's not about finances. No matter what, it's about keeping it real.
Family responsibility, yes, and always. Family bankruptcy due to the cruel rules of government, no.
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