Bankruptcy Is Ethical

Often, clients struggle with the ethical issues involved in a bankruptcy. Isn’t it unethical to not pay off debt? If you have questions like these, get answers to them by speaking to a Des Moines bankruptcy attorney at the Weaver Bankruptcy Law Firm.

Bankruptcy and Ethics

There’s no doubt that a bankruptcy does pose an ethical dilemma to many clients, especially those who are of a religious persuasion. The fact is however, that many people may face a financial crisis at some point in their lives, and often, the financial crises have nothing to do with personal spending habits or financial responsibility. The number one reason for personal bankruptcy in the United States is not credit card debt, lavish spending or extravagance, but medical debt. More people are pushed into bankruptcy every year, because they’re unable to pay the large medical bills that are the result of the health care system in this country, and have no other option but to file for bankruptcy. Sometimes, even people who have insurance are forced into medical debt, because their insurance will not cover certain types of illnesses. In such cases, it’s hard to see how filing for bankruptcy could be unethical. Besides, bankruptcy does not mean a complete discharging of all of your debt. Not all of your debt may be forgiven in a Chapter 13. You may instead be tied to a repayment plan, according to which you will continue to pay off creditors over a period of time. There is nothing unethical about sticking to a repayment plan, to pay off creditors. For more answers to your questions about the ethics involved in filing for bankruptcy, discuss your case with a bankruptcy attorney in Des Moines. Call (000) 000-0000 to schedule a consultation with an attorney at the Weaver Bankruptcy Law Firm. Our attorneys are ready to answer your questions about the ethics involved in filing for bankruptcy.