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"This Trend Could Destroy Your Savings!" Okay, WHAT TREND?

By Joseph McDaniel, Esq.

I just read a perfectly good general discussion of bankruptcy filing increases, and the reasons that the author believes that bankruptcy rates are rising.

I liked the article just fine. Sure, I disagreed with the semi-snide remark that the stigma of bankruptcy is mostly gone, because every day of the week I get to hear people sob their hearts out, because they've finally spent the last cent of their savings to pay credit card debt, and now their shame about bankruptcy is gone only because they have no choice. It's bankruptcy or cat food, or in some cases, bankruptcy and then an upgrade to cat food.

It does have a pretty good balance of omega 3s, and a good amount of protein, after all.

And by the way, as to strategic defaults, that's a scarecrow invented by mortgage companies and banks, and they should be ashamed of themselves for slandering the people who lost money on a consumer real estate bubble that those same mortgage companies and banks profited from and encouraged! That's simply a way of blaming the victim to make themselves look less...guilty, you know?

But it troubles me when I look at a title and then look for the information promised by the title only to discover...it's not in there!

Don't get me wrong; the guy writes well, and he's a smart guy, and I absolutely agree with his conclusions that people should have insurance against the disasters that can wipe out a nest egg, and that you should know the exemptions in your state, as well as the Federal Exemptions.

But when I dive into an interesting title, I want to see the information that I'm looking for someplace actually in the article!

p.s. I've been a bankruptcy lawyer in Arizona for thirty years, and I know, with the certainty that comes only from vast, deep experience, that nobody files a bankruptcy for fun. That's a cruel slander of people who have been hurt badly by fortune, by the economy, or by events in their lives like divorce and cancer. To try to make them seem to be the bad guys in this story makes me a little...testy.

You know?

p.p.s. Note that sometimes it's not the author who provides the teaser title to get you in; the bad guy in this story may be the editor! 


  

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Full post as published by Arizona Bankruptcy Attorney Blog on January 23, 2011 (boomark / email).