For a lot of people, the term bankruptcy evokes the same emotions as the word cancer. To hear someone has gone through bankruptcy is like hearing they are getting chemotherapy for a malignant tumor or treatment for a life threatening disease. To others, bankruptcy sounds a lot like surrender and defeat. To wave the white flag to your creditors and admit you are a failure and cannot keep the promises you’ve made.
The reality is that bankruptcy is a business decision and should be seen as such. When people talk about Donald Trump going through bankruptcy, they don’t look at him as if he were a pariah. He’s a business man and bankruptcy is merely another tool in his toolkit. The Road Out of Debt, written by Joan Feeny and Theodore Connolly, is a book about getting out of debt with that perspective on bankruptcy. It’s not a book about bankruptcy, it’s a book about debt with a look at how not thinking about bankruptcy is a mistake.
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