I’ve been trying not to respond to troll comments on my bankruptcy videos but this one is really interesting and I wanna respond to it because why don’t you have to give up everything in order to file for bankruptcy it’s very simple actually it’s because this is one of the few saving graces loopholes whatever you wanna call it that we have in the US to actually help people who are in a tough financial position and need that help and so it doesn’t make any sense if you’re filing for bankruptcy to rob you blind and leave you with absolutely nothing left that doesn’t make any sense because what’s gonna happen if that happens right if you do that is you go through the bankruptcy process you’ve got nothing left the likelihood of you ending up in debt again pretty pretty high okay plus by the time you reach the point of actually filing for bankruptcy chances are if if it’s consumer debt right chances are you’ve paid off plenty towards that debt most people by the time they actually file have paid off quite a bit of their debt but because of interest rates it’s not actually making a very big dent in their debt so they’re literally just paying more and more and more another thing is like the number one reason why people file for bankruptcy in the US is because of medical debt so you’re saying that in order for someone to get out of medical debt which by the way like that should not even be an issue in the US like it really shouldn’t we shouldn’t have a healthcare system where medical debt is the number one reason why people have to file for bankruptcy okay we should have a system that takes care of people when they’re sick because you can’t control that what you’re saying is that if someone has something that they literally cannot control contribute to them developing a ton of medical debt that they should then not have anything left like they should get rid of their retirement they should get rid of all cash equivalents no now Chapter 7 which in California you’re able to protect what my lawyer described as “30 and change” or somewhere around $30,000 of cash and cash equivalents they’re not allowed to touch your Roth which is amazing that they respect the fact that you’re building towards retirement draining your Roth to use it to pay back creditors that would screw you over so bad because then you have to rebuild your retirement and the later that you start building your retirement the worse off you’re gonna be so talk about people who are again gonna be very likely to accumulate a ton of debt upon retirement because they won’t have the money because what? they got into debt one time? and then their entire retirement was drained that doesn’t make any sense okay the point of bankruptcy is to help people get out of the situation so that they don’t get into debt again so doing these weird punishing things that people recommend like people really wanna see like want you to like suffer and be punished for being irresponsible and a bad adult whatever that’s not the point because when you do that to people not only is that just like so messed up okay take that aside right but when you do that to people you increase the risk that they’re going to end up in debt again and need to file for bankruptcy again hello from editing by the way if you are in debt I just partnered with this amazing company they have a free online calculator that helps you put in all of your information and then calculate all of your best debt relief options whether that’s bankruptcy a debt relief program a settlement option whatever it may be right you put in all of your unique information then it’ll give you custom advice and will connect you with like vetted professionals to help you take that next step this is such an amazing company they wanted to get rid of all the like predatory companies that are taking advantage of people who are in debt so it is in my bio definitely go check it out and it’s free for you to use