Debt Plans Fail in Inflation — Here’s What Works
Steve Rhode and Damon Day explain why budgets and payment plans break during inflation, why bankruptcy is less risky than the status quo, and what to do before your options disappear.
fresh start
LYCRA Files Bankruptcy to Eliminate $1.2 Billion in Debt and Calls It a Milestone
The LYCRA Company just filed Chapter 11 bankruptcy to eliminate $1.2 billion in debt. Their CEO called it decisive action and a significant milestone. When a billion-dollar corporation uses bankruptcy, the market calls it smart. When you consider the same legal tool, culture calls it shameful. Same law, different framing.
What Disqualifies You From Filing Bankruptcy? (Less Than You’ve Been Told)
What disqualifies you from filing bankruptcy is narrower than most people fear. I filed in 1990 — here’s the real list of disqualifiers and why the fear of them costs people more than the disqualifiers themselves.
Mental Health Crisis Left Me With $5,000 in Debt. What Can I Do?
Debt after a mental health crisis carries a double burden — the financial stress and the shame. Here’s the honest truth: your life comes before the debt, always. And $5,000 in unsecured debt has real, workable solutions.
The Benefits of Consumer Bankruptcy (Chapter 7 & 13): What Research Actually Shows
Chapter 13 filers granted bankruptcy protection saw a 30% relative reduction in five-year mortality versus those denied it, plus faster credit recovery and full retirement protection — here’s what the research actually shows.
Bankruptcy Filings Surge 12% in 2025: Why That’s Not Bad News
Consumer bankruptcy filings surged 12% to 533,949 in 2025, and experts predict further increases. Steve Rhode, who filed bankruptcy in 1990 and rebuilt everything, explains why the rising numbers reflect people making smart financial decisions.
The Biblical Case Against Dave Ramsey’s Bankruptcy Shame
Quick Answer: Dave Ramsey uses religious guilt to discourage bankruptcy, but this ignores biblical principles of forgiveness, Jubilee, and fresh starts. Meanwhile, churches routinely file bankruptcy while their pastors preach against it for individuals. The shame isn’t biblical—it’s cultural manipulation. Part of the Bible & Bankruptcy Hub: This is one post in my complete guide …
Financial Second Chances: Myth vs Reality
Quick Answer: Financial second chances are self-created opportunities rather than external gifts, as demonstrated by examples like J.K. Rowling rebuilding after hitting rock bottom. The author’s 1990 bankruptcy experience illustrates that major financial failures can become foundations for recovery when individuals actively choose to move forward without waiting for permission.What If Your Biggest Mistakes Were …
The Fresh Start of a Bankruptcy May Restore Credit Faster
People consider filing bankruptcy when the alternative has become worse. Figuring out if you are at that point though can be difficult. One misconception that makes people hesitate to file bankruptcy is the impact on their credit. An in depth study by the Federal Reserve Bank comparing the credit of people who’ve filed bankruptcy with …
CPN Scam: Red Flags to Know Before You Sign
Quick Answer: CPN (Credit Profile Number) services are illegal scams that charge up to $50,000 to provide fictional numbers as Social Security Number alternatives. Using CPNs to apply for credit, loans, or bank accounts constitutes credit fraud and violates federal laws.While searching out scams to avoid recently I came across many that were willing, for …
