Some of you have have heard me description of bankruptcy as your very own personal stimulus package. When you file your bankruptcy, you free up money that would have gone to pay creditors to spend of things you actually need. It doesn’t do Hawaii any good (besides Capital One Bank’s share holders) to send all your money to a credit card company when you could be spending it right here, stimulating Hawaii’s economy.

Here are some additional thoughts about why bankruptcy is good for the economy.