Bankruptcy?

I don't know much about bankruptcy but the fact that today is April fools day causes me to wonder why you would want to play a nasty April Fools joke on yourself by filing bankruptcy?

Another nasty April Fools joke people play on themselves is trying to get out of their unsecured debt if they have the ability to pay and keep their accounts current and in good standing. Why would you want to do that?

Good credit is important in today's world and if you have the ability to pay then you should do so even if it might cause some temporary hardship. I keep talking about rights and how we all have rights and should defend them to the bitter end no matter what the cost might be. Your rights are just that important because they are the most important things we have in this life. But at the same time that we demand others respect our rights we must also remember that others have rights too and we must always do our best to respect the rights of others as we expect them to respect our rights.
Your creditors have rights too and one of those rights is the right to get paid what is owed them in a timely manner.

Don't abuse the rights of your creditors by trying to get out of paying your just debts if you have the ability to do so.

Yes, I know that many people are outraged by seemingly high interest rates but in reality even 35 percent is pretty mild compared to the interest rates in some other countries. Mexicans can get hit with as much as 80 to 100 percent interest rates even on home mortgages. Because of the seemingly high interest rates many people want to dump their obligations by any means possible even though they have the ability to pay.

Many people today are angered by the thought that banks don't loan any money or don't risk any of their own money when making credit card or mortgage loans. Many are fooled into believing that all the banks sell their loans to the federal reserve and fractional banking allows them to create money out of thin air.
None of that makes any difference. Of course they didn't loan you any money. In reality they loaned you a home or other property for which you are expected to pay. How they got that home is or should be of no concern to the borrower. How they got that money or how they got that home has no bearing on whether or not you must pay the lender for what you got whether it was a package of rice or a vehicle or a home.

If you have the ability to pay then don't go playing any nasty April Fools jokes on yourself because that is what it will turn out to be.

If for some reason beyond your control such as loss of your job or other source of income or maybe a health problem such as a heart attack or disabling injury of some kind making it impossible to earn a living by working then there is no sense of playing a nasty April Fools joke on yourself by filing a formal bankruptcy.
Instead of making yourself the butt of a nasty April Fools joke learn how to do an informal bankruptcy and make the debt collectors the butt of your April Fools joke. It starts with that all important validation letter.