There is a movement growing online of self-proclaimed financial advisors trying to change the perception of personal bankruptcy. Instead of seeing going broke as a shameful thing—the theory goes—we should view it as an act of financial empowerment and feel no regret about filing Chapter 7, even multiple times.
“We have to pay attention to all the things that they tell us not to do but are doing themselves,” explains TikToker @Thebouncebackcoach, in a video. “The rich file bankruptcy every seven years, and that clears the debt that they may have accumulated over the past few years, wipes their debt clean, and gives them a completely new slate.”
“The poor think bankruptcy is failure; the rich and powerful…