Oh, yeah. The Debtress has had enough. Get ready for a short rant…

I’m tired of the bankruptcy stigma. In tough economic times like these, we can’t afford financial judgment.

It’s time for people to realize that bankruptcy isn’t for “slackers” or people who “want a free ride.”

Here are the common reasons millions of Americans seek bankruptcy protection:

Unexpected expenses: Whether it’s a major medical procedure, a natural disaster or an unforeseen car breakdown, major expenses can throw a person’s finances out of whack.

Income reduction: Particularly when the economy is bad, getting laid off or having even just a few hours cut can seriously cut into a person’s available funds.

Job loss: When a person loses their job, their whole world is turned upside down. Even if they were able to stay on top of their bills before losing their job, bankruptcy may now be the only relief for the bills that piled up after the job loss.

Injury or illness: It’s no secret that medical bills can add up quickly. Especially if you’re one of the tens of millions of Americans without health insurance, medical costs can mean serious problems for your finances.

Divorce: Stretching income that use to cover one household over two can cause strain – and that doesn’t even take into account lawyer and court costs.

Births or deaths in the family: Funeral costs, hospital costs, caring for a new child – we often don’t think of the price tag on these events because they’re so emotionally charged; but major family changes can hit the bank account hard.

Identity theft: Though laws are in place to protect identity theft victims, some still find that their finances cannot be salvaged and need to turn to bankruptcy.

Overextension of credit: This one may be a little more within a person’s control – but it can certainly make any of the others on the list worse.

Learn more about filing bankruptcy

So, let’s stop judging and let’s start dealing with our debt.

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