Is bankruptcy morally wrong?
June 22, 2017Is the debt discharged in bankruptcy considered income that has to be reported on my income tax return?
June 22, 2017Our Professional Answer:
All too often, you’re going to be told that bankruptcy is a crime and that it will ruin your life, nothing could be farther than the truth. In every society, bankruptcy is a tool that allows us to have financial contracts between each other but not have slavery. Without bankruptcy, a debt could make you a financial slave. Consult your attorney about whether bankruptcy is right for you but remember, this is a financial tool that has been granted to you by our society and Congress.