Believe in Second Chances

Discussion in 'Growing and Managing a Business' started by gturnwald, Oct 27, 2009.

  1. gturnwald

    gturnwald
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    Believe in second chances? You should, life gives you them every day. I seem to get a lot of phone calls or client interviews that say pretty much the same thing; "I never thought I would be here." "I don't want to do this." "I have tried not to do this for years." "I don't want anyone to know." or finally, "I don't want my family member or friend listed on the bankruptcy."

    The simple truth is no one expects it to happen to them, and when it does, the effect on a personal level is even harsher and more humiliating to the individual then lets say a divorce or a petty crime ever was. They don't want anyone to know, where as, a divorce or small crime is not always thought of the same way.

    My response to a client after they say these things is usually along the line of talk that while you may have lost today; I didn't say you had to like it or keep thinking that way.

    All debt must be listed on a bankruptcy form. However all a bankruptcy does is erase a legal obligation to pay. If you feel a moral obligation and come into new money in the future, go ahead and pay any old debt you want.

    Between a friend or family member it is not a written or legal document that is needed to reflect the obligation. You know the loan happened and they know it happened, no document is needed, there is a personal bond. Clients I know of have actually done this; repaid debt previously discharged in bankruptcy. This never seems to happen with credit cards or medical bills where there is not the personal connection between debtor and creditor. Redemption or second chances, needs that personal connection.
     
  2. Fergal

    Fergal
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    Everybody deserves a second chance. During these difficult times lots of companies are going bankrupt and it is nothing to be ashamed of. I agree with your views re the repayment of debts. Individual and businesses should do their best to repay their debts, even if they have legal bankruptcy protection.
     
  3. unleashed

    unleashed
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    Nicely said Fergal. This period(last 12 months) was full of financial crisis. Many big companies became bankrupt. However, few who intelligently invested their leftover money have came back very strong. I do believe in second chances but we should have courage to take the second chance.
     
  4. Fergal

    Fergal
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    Very true, courage is extremely important and it takes courage to start any type of business. Look to the future not back on the past.
     
  5. GekiDan

    GekiDan
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    All people are entitled to have a second chance. Well, experience is the best teacher.
    So once you fail on your first try, you can continue trying until you succeed. :D
     
  6. dipcliper

    dipcliper
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    thanks gturnwald!that really true every inspiring article you have there!thanks:)
     

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