There’s an interesting article in the Dallas Morning News which quotes Kent Swig, a millionaire real estate developer who is struggling with a $28 million judgment on his condo conversion project. His comments were very revealing about how he and others like him view bankruptcy.

Referring to his personal bankruptcy options, Swig said:

“We are exploring all options,” one of Swig’s advisers told The Post. “No one wants to do it but it’s certainly a play on the chessboard that we are considering at this time.”

Interesting…another play on the chessboard?  Well, that’s a man who has put things into perspective.  Many individuals who have strong feelings against filing bankruptcy may view Swig’s comments as heartless, cold and calculating; but at the end of the day, he is just a shrewd businessman.  And why can’t we all be as shrewd as him?  We all have several legal and ethical options, including bankruptcy, to help ourselves recover from a financial setback. Bankruptcy is one of the most powerful “plays” when it comes to battling overzealous creditors and getting a fresh financial start.

In most things financially related, creditors have almost all of the leverage.  They have the right to make negative comments on your credit report, file a lawsuit if you don’t pay and even garnish your wages.  But bankruptcy puts more power into the hands of the debtor by allowing him/her to discharge debt during Chapter 7 bankruptcy or repay under affordable and reasonable terms during Chapter 13 bankruptcy .  Why not at least consider your bankruptcy options while playing this game of life? After all, it could help you gain the leverage you need to pull yourself out of the financial crisis you’ve sunk into.