Thomas Jefferson, the third president of the United States. He was a statesman, diplomat, architect, author, inventor, farmer and one of the founding fathers of our country.

Few know that Thomas Jefferson filed several bankruptcies in his lifetime; and, his debt was larger than most, in comparison to most individual bankruptcies today.

So, really, bankruptcy is nothing to be ashamed of. If Thomas Jefferson, with his skills and knowledge and intelligence thought it was wise to use the bankruptcy laws to move himself ahead, even more than once, then it is certainly no less appropriate for any of us today. 

The bankruptcy laws are there for a reason. If you can’t move forward due to the weight of debt you have, then the responsible thing to do IS to file for relief. You can’t be a productive tax-paying wage earner if you are immobilized by debt. The sooner you can become a working consumer, and, if you are in a chapter 13, pay at least some of your debt, the better off you and the entire community will be.

It is important to honestly look at bankruptcy as an alternative to struggling for years that gets you nowhere. There are many factors to consider before filing a bankruptcy, but one of them should not be a guilty conscience.