Your feelings on paying back debt

I am the voice of experience - I've been through bankrucpcy - due to a business. Like you stated, this was not due to lack of hard work - hubby worked there 7 days a week pretty much from open to close without drawing a pay check. We even tried to negotiate with the lender (not to pay less of what was owed, but to work out a different payment plan) - they were unwilling to negotiate.

Bankrupcy was a last choice. If we did not, we would no longer have a home to live in and who knows what else. Also, you do not come out unscathed - this impacts almost every aspect of your life and is incredibly embarassing and humilating especially as we had always been financially responsible including paying off credit cards monthly - no car loans, student loans all paid off, etc. We made sure we paid all our personal bills and employees.

Our credit rating was spotless prior to this. Now it is on our record and can be supplied to our employers and whoever hires us in the future.