Articles on this website pops up when I go searching for credit, debt, et al. articles on Google News. However, they seem pretty clueless so I don't post the articles. I make the exception with this one because it's a particularly dopey and uninformed article on the subject of BK.
The article is quite disconnected from a person who is weighing BK. Lectures that amount, "Well, you shoulda been smarter by ... or you really should have ..." don't serve much purpose. Oughta, coulda, woulda, shoulda. It's a perhaps interesting, but pedestrian, article advising how to avoid BK in the future.
Re: Bankruptcy Alternative - For Entertainment Purposes Only
From the above mentioned article....
"In fact, if a debtor is declared as bankrupt, his or her financial life will be in a very dilapidated situation for the next ten years, at least."
Yeah, the article is just ignorant. I guess you have to wonder what their interpretation of "dilapidated situation" means, but for my husband and I we are doing just fine. We have two financed vehicles and were just approved for a mortgage only two years after our BK was discharged. True, we did not get the best interest rate, but we can refinance the house in a few years.
There is nothing that we need that we have not been easily able to get, so I do not consider myself to be in a "dilapidated situation" at all!