Why Filing For Bankruptcy Could Be Your Best Financial Decision
The Financial Diet
TFD
4.3 • 548 Ratings
🗓️ 8 April 2024
⏱️ 51 minutes
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Summary
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Chelsea sits down with Kaitlyn Walker to talk about financial abuse, being totally broke, and why bankruptcy was her best financial decision.
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Transcript
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| 0:00.0 | Hey, my name is Chelsea Fagan, and I'm the founder and CEO of the Financial Diet, a totally |
| 0:10.1 | independently owned and operated company of women who love to talk about money. |
| 0:14.1 | Welcome to the financial confessions, a weekly show where we talk to people about their |
| 0:17.6 | personal finances, their professional industry, and how money shapes |
| 0:21.0 | their lives. You can listen to or watch new episodes of the financial confessions every |
| 0:25.4 | week on YouTube or your preferred streaming platform. You can also support TFT and get |
| 0:29.8 | exclusive access to our entire catalog of ad-free bonus videos, workshops, Discord community, |
| 0:35.2 | our book club and more by joining our members-only community on Patreon or YouTube. |
| 0:39.9 | Our 2024 goal is to be primarily supported by our incredible community, and joining our membership |
| 0:44.8 | program is the best way to do that. Enjoy the episode. |
| 0:51.0 | Hello, everyone, and welcome to this week's episode of the Financial Confessions. Today, we are here to talk about probably one of the most serious financial issues, but also one of the most seriously misunderstood. The word bankruptcy for a lot of people conjures all kinds of scary feelings and negative thoughts |
| 1:13.3 | and just general assumptions that this is the worst possible outcome for a person financially |
| 1:20.0 | or otherwise. It's something that people will often go to extraordinary lengths to avoid, |
| 1:26.1 | and it's also a concept that not enough people truly |
| 1:29.5 | understand. |
| 1:30.8 | I wanted to speak to someone when we knew we were going out |
| 1:33.6 | looking for real financial stories who's actually |
| 1:35.9 | experienced bankruptcy and can speak to it as not just a concept, |
| 1:40.3 | but also as a financial tool to help demystify, destigmatize, and to help us all understand all options that are available to us. |
| 1:49.7 | I won't sit here and pretend that filing for bankruptcy is ever a fun thing or a general sign of a healthy financial situation. |
| 1:57.3 | But it's also not the thing to be feared, perhaps to quite the extent that it is and can in many cases be a better option than the alternative. |
| 2:05.6 | But I can't speak to it nearly as well as my guest can. So without further ado, I am so grateful to be welcoming Caitlin Walker to the show today. |
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