Isn’t filing for Bankruptcy “morally” wrong?
The answer to this question is really very subjective and depends on the personal beliefs of an individual. I can tell you this — the Bankruptcy laws have existed in this country for the past 100 years, and the prevailing theme of these laws is that it is in this country’s best interests to allow people to have a “fresh start” in life, so that they can try again, and hopefully contribute to society (i.e., make money and pay taxes) in the future. These laws are there to protect you and because a decision was made a long time ago that it benefits society, as a whole, to have them. If it bothers you that you are not repaying your creditors in full, you can always, at some point in the future, when your Bankruptcy proceeding is over, voluntarily repay your creditors. Believe me, they will be happy to take your money then. This way, you could repay them on your terms, when it is convenient for you.
