With permission from Bankruptcy Bill himself, here’s BAPCPA Man #3 where BAPCPA Man meets the ominous-looking villain Subprimulus.
(Click on image to see larger version.)
The cartoon touches on a number of important themes, including:
- The mandatory pre-bankruptcy credit counseling requirement (addressed in previous post on this blog titled “What You Should Know About the Credit Counseling Requirement.”)
- The credit industry’s attempt to mislead the country into believing that abuse of our bankruptcy laws was a major problem (which it wasn’t) rather than acknowledging the reality: that bankruptcy is a necessary social safety net used by regular Americans who face financial circumstances beyond their control, such as medical bills, divorce, unemployment and recession. (See previous post on this blog titled “Bankruptcy, Social Safety Nets and Planning Ahead.”)
- Subprime loan companies, who helped get us into this economic mess to begin with, and loan modification companies who scam desperate homeowners and help keep us in this mess. (See previous post titled “Subprime Loan Modification Companies.”)
The cartoon also shows the correct first step an average person should take when facing serious financial difficulties, which is to meet with an experienced bankruptcy attorney for a free initial consultation, ask all the questions you need to ask and learn all of your options.
If you’re considering filing for bankruptcy in New York, please feel free to contact me for a free initial consultation where we can discuss your situation, answer all your questions and figure out the best strategy to help you benefit from the bankruptcy attorney Brooklyn NY and move forward with your financial life.