Bankruptcy Stories

I found a site this morning at bankruptcystory.com with the title “My Bankruptcy.”  I’m a little bit confused by the site’s organization, but if you go to http://bankruptcystory.com/category/my-bankruptcy-journal/, the writer (who remains intentionally anonymous) blogs about his decision to file for bankruptcy (along with his wife) and some of the day-to-day happenings.  e.g., Going to a credit counselor and learning that that would not be a workable option for them; realizing that he can’t negotiate for a lower rate with his credit card companies in advance but must instead wait until his payments are late.

The blog begins May 17, 2008, and the last entry appears to be November 5, 2008.  Can’t tell if there will be additional entries.

There’s also a link in the left sidebar called “Uncategorized” that goes to a series of articles by various authors about bankruptcy topics that are all connected with a website called www.ezinearticles.com.

A nice article from the Charlotte Observer about bankruptcy attorney Rick Mitchell who is a member of the Bankruptcy Law Network.  In the article, Rick comments on the increasing range of the kind of people who file for bankruptcy (e.g., more rich and upper middle class).  He also gives an overview of what typically happens in a bankruptcy case as well as some things to keep in mind with regard to bankruptcy.

http://www.bankruptcylawnetwork.com/2008/04/06/a-bankruptcy-attorneys-story-catching-those-who-are-falling/

To Bankruptcy and Back:  My Story ran May 11, 2007 on the website www.smartmoneydaily.com.  It tells a relatively positive story of someone who filed for bankruptcy after taking some risks in getting his business going and has survived to re-build his credt and his life.

A good example of one of the purposes of the bankruptcy system in any society:  to encourage people to take the kinds of risks that lead to innovation and growth.  As the author notes, not everyone succeeds when they take a risk.

Godless and Penniless:  How one couple navigates the Christmas season with little money or religion is a cartoon in today’s NY Times Op-Ed section about economic struggles leading up to Christmas.  Rebecca Gopoian (the writer) and David Heatley (the drawer) describe (and show) in a refreshingly frank manner how the declining job market and lack of income has affected not just their job prospects and their pending Christmas but also their relationship with each other.

http://www.nytimes.com/interactive/2008/12/17/opinion/20081217_opart.html?emc=eta3

This site is intended to be a collection stories and links to stories of people dealing with bankruptcy and related economic struggles.