Unfortunately, we live in a country that tends to encourage bankruptcy etc.
Back a few years ago, I had my credit way overextended, making late payments, all that. I went to buy a house for about double my salary and could not get the credit for it (although I could go buy a fairly expensive car at that time in two hours time..go figger). Anyway, I worked extremely hard at learning some financial discipline, paid off every cent plus interest and late charges.
Took a hell of a lot longer to clear from my credit record than a bankruptcy would have. I had many financial and legal types that said I would have been better off with a bankruptcy rather than working through it.
So, while my paying it all off somehow might make me feel superior morally, it really did not help me financially.
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