Bankruptcy. From the first time you heard someone say it, you’ve known that word carried some kind of social stigma. In Monopoly, players who go bankrupt are out of the game — “Do not pass Go, do not collect $200,” etc.
Fortunately, real life isn’t a board game. In life, bankruptcy isn’t nearly as bad (or even uncommon) as you might think. In fact, one in ten American households declared bankruptcy in recent years. And yes, there are even some benefits to filing either Chapter 7 or Chapter 13 bankruptcy.