I know it's a bold statement, but it's a bold move, too.
First, I am very clear about the legal rights afforded to businesses and individuals as it pertains to filing for bankruptcy. Second, I also realize that some people have no option but to file. When you have NO money and no way to pay for things by which you are obligated, you are left with no other options. As a tactic, filing for bankruptcy is not immoral.
However, refusing to pay (more like re-pay) the creditors consistutes an immoral action.
I completely understand one's inability to repay a debtor in the NOW world. But what about next year? Or five years from now? Or fifty years from now? Therein lies the moral aspect. Because one who chooses and succeeds in filing is saying to the world, "I can't pay you now. Please forgive me. Oh, by the way, I am choosing not to pay you for the rest of my lifetime - even when I can afford to do so."
As more and more Americans resort to the strategy of bankruptcy, the once-strong moral fibers of this nation weaken. Future generations will look back and recognize The Great Recession was a moral one.