When my children were born, parents and grandparents tended to lavish them with toys. Unlike generations in the past, when toys were not so readily available from the store and gift giving was limited, the expanding economy allowed for charitable giving, even for the middle-class.
When I was a child, I was given few toys and learned to occupy my time with what I had. I remember countless hours of joy and imagination with a simple cardboard boxe. Almost 60 years later, many of the middle-class of my generation may be returning to the cardboard box of their youth.
This personal bankruptcy story was posted on the internet in July of 2010: “My husband lost his job about a year after we bought our house. He was unable to find another full-time job, and they kept cutting back my hours at the supermarket where I worked. We declared bankruptcy in an attempt to save the house, but we ended up losing it a couple of years later. We have a small business now, and we hope that we manage to keep it going. We are both in our 50’s (my husband is not far off 60) and not in the best of health, so I can’t imagine either one of us finding a another good job. When people ask me about our retirement plan, I tell them it involves a cardboard box under a bridge, and I’m not entirely joking.”
This debtor jokes that her retirement plan may include a cardboard box under a bridge. Unfortunately, today many middle-class people in America are in the same condition as this debtor.
The volatile stock maket has eliminated many retirees investment accounts. The only retirement income for most middle-class Americans is now Social Security.
In addition, the current housing crisis is also taking its toll on those nearing retirement age. Many are losing their houses because of the crisis and many will not be able to afford mortgage payments on social security income if they survive the crisis. As a result, many may be forced to work well beyond their retirement age, fearing they might be living in a cardboard box under a bridge somewhere if they do not.
There is one silver lining: America is still the land of opportunity. As illustrated by the debtor, many Americans still have the opportunity to start a small business. As long as we have the Constitution to guarantee our pursuit of happiness, there is still hope. In America, we can live in a cardboard box and do better than many people living in other areas of the world.
As a society, we have come a long way since the days of debtor prisons. The Constitution provided for our protection against those antiquated laws. Bankruptcy laws have also been designed to protect both creditor and debtor. Starting over is what we Americans do best. We understand the need for forgiveness and a fresh new start. Our history is full of citizens who have attempted a business venture and failed but who have started over and succeeded.
If you are currently being forced into bankruptcy, there is no need yet for you to return to the cardboard box of your youth. You can still start over.
Bankruptcy laws can be complicated. If you need relief from the stress of debt and you live in or around the metropolitan area of Orlando, Florida, contact us at www.betterbankruptcy.com .We will help you find a bankruptcy attorney in your area who will answer your bankruptcy questions.
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