Big Bankruptcy Myth: People who have to file for Bankruptcy must be lavish spenders or irresponsible with money! In the past 22 years, I have not seen much of this. This $5 bill fell out of my client’s wallet. It was my client’s first paycheck. He hung on to it all these years to remind himself of the value of a dollar. Property taxes, insurance, and HOA fees were too high for him to sustain. Know your options.