Feeling guilty about filing bankruptcy? Don’t be. Do you think any of the large companies who file bankruptcy feel guilty about filing bankruptcy? Bankruptcy is a financial decision and has no bearing on your morals or character.

The large credit card issuers have profits in the billions of dollars. That’s right, billion with a B. Your credit card bill is a grain of sand in a big bank’s financial condition.

Whenever you get any kind of budgeting advice, you are told you have to prioritize your expenses. Bankruptcy is just another tool to help you prioritize your expenses. What is more important, mortgage or credit cards? Bankruptcy lets you decide. Rent or pay day loans? Again, bankruptcy lets you prioritize what is really more important.

For more about this, see Mark Markus’s comments on this issue.