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How bankruptcy can give debtors a second chance

James Trewartha Jr., who said the decision to file for Chapter 13 bankruptcy was “such a relief,” in the Hampton Roads area of Virginia, Sept. 12, 2024. Many people who should consider filing for bankruptcy avoid doing so out of shame or fear that it could ruin their credit, but it may be a prudent option. (Hadley Chittum/The New York Times)

Assistant principal James Trewartha Jr. said the decision to file for Chapter 13 bankruptcy was “such a relief”.

PHOTO: NYTIMES

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Many people avoid filing for bankruptcy out of shame and embarrassment around their financial circumstances, because they receive poor advice or because they’re too proud. But bankruptcy may be a prudent option to eliminate burdensome debt, save a home from foreclosure and end collection calls.

According to Ms Adrienne Hines, a bankruptcy lawyer, who has a popular TikTok account where she offers advice, many of her clients feel they have an obligation to pay off the debt themselves.

How bankruptcy can give debtors a second chance

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