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Is Bankruptcy on Your Bucket List?

By Joseph McDaniel, Esq.

Some kids grow up and say they want to be an astronaut; that's ambitious!

Some kids grow up and say they want to be a firefighter, or a policeman. That's heroic and admirable!

Some kids grow up and say they want to be a bankrupt.

Oh, wait! They don't!

See, nobody thinks about bankruptcy when they're a kid, because bankruptcy only becomes a necessity when things get fairly adult. If you grew up, became responsible, worked half-days (twelve hours, get it?), watched television commercials that fed instant gratification desires, and used your credit card a lot, you probably had the privilege of filing a bankruptcy first in your high school class! So that now you're an experienced bankruptcy client!

And that's not an honor, and not a disgrace, but it might be a gift.

Because if a bankruptcy causes you, as a youngster, to adjust your time horizon, you may retire as rich as a doctor, even if you're a janitor.

I've had janitor clients who made great progress in that direction, and I was very proud of them!

But generally nobody really wants to file a bankruptcy before they die! For one thing, that involves finding a bankruptcy lawyer, which is a pre-bankruptcy errand that's yet another pain in the neck!

Still, kids don't say, "I want a really big shot of penicillin when I grow up!" And that's because it's no fun, even if it does do the job, and does fix the problem.

And in that way, it's a little like finding the best bankruptcy attorney for your case, and filing a bankruptcy in Arizona!

p.s. Yeah, I know perfectly well that the correct term for a bankrupt is a "debtor", after the New Code became law in 1979; but it didn't fit the flow of the words properly, you know? 

Full post as published by Arizona Bankruptcy Attorney Blog on December 22, 2010 (boomark / email).