A Quote by Jerry Falwell, Jr.
Liberty never had to file bankruptcy, thanks to God's blessings, but we did go through tough times and painful debt restructuring in the 1990s.
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Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It's a trap for the rest of your life because the laws are designed so that you can't get out of it. If a business, say, gets in too much debt, it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.
Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It’s a trap for the rest of your life because the laws are designed so that you can’t get out of it. If a business, say, gets in too much debt it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.
The Bankruptcy Reform Act of 2005 made it harder for individuals to file bankruptcy, which is always the last resort. Unfortunately, simultaneously consumers racked up so much debt that counseling companies - which are higher up on my list if you need help managing your debt - are sometimes unable to help. So if you fall into this camp, debt settlement may be something to consider.
Even if you were to fall into extreme financial hardship and file for bankruptcy, you need to understand that your student loan debt will not be discharged in bankruptcy. It is the Velcro of all debts.
I almost went broke. I didn't file bankruptcy, but I had some miserable times there for two or three years.
I'm so grateful to God for allowing my dreams to come true. It was worth going through a few tough times, as I am so appreciative for my many, many blessings.
Even if you feel like your debt is just never going to go away, think long and hard before declaring bankruptcy. Declaring bankruptcy means that getting a loan for anything will be next to impossible for the next 10 years.
I was a hard-times governor. I had to steer my state through the deepest recession since the 1930s. But hey, tough times don't last and tough people do. And can I tell you that Virginians are tough people? We are tough people.
Do we not see God at work in our circumstances? Dark times are allowed and come to us through the sovreignty of God. Are we prepared to let God do what He wants with us? Are we prepared to be separated from the outward, evident blessings of God? Until Jesus Christ is truly our Lord, we each have goals of our own which we serve. Our faith is real, but it is not yet permanent. And God is never in a hurry. If we are willing to wait, we will see God pointing out that we have been interested only in his blessings, instead of God Himself.
My brothers and sisters, do we remember to give thanks for the blessings we receive? Sincerely giving thanks not only helps us recognize our blessings, but it also unlocks the doors of heaven and helps us feel God's love.
Tough times don't last, but tough people do. And I've been through some tough times, and I know a lot of people can recall tough times, and maybe are going through some tough times right now, but they don't last.
By the time most people file for bankruptcy, their credit is already trashed, they have a high debt-to-income ratio - a key indicator lenders look at - and they've likely defaulted on more than a few accounts.
The 2008 economic crisis and Great Recession forced widespread restructuring throughout the U.S. economy - not unlike a company gritting its teeth through a lifesaving bankruptcy.
Everybody goes through some tough times in their life, no matter what you do. Man, I've had my tough times.
Giving thanks to God for both His temporal and spiritual blessings in our lives is not just a nice thing to do - it is the moral will of God. Failure to give Him the thanks due Him is sin.
I'm only thin-skinned when somebody says bad things that are false. For instance, if you hit me about something that's true, all right, the bankruptcy - I used that as a tool. I didn't ever file for bankruptcy.
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