Money & You with Michelle Perkins

Ep 201: Freedom Over Fear: Why Bankruptcy Can Be a New Beginning

Barry Levine · November 11, 2025

Author · Financein

Interview with Barry Levine

Ep 201: Freedom Over Fear: Why Bankruptcy Can Be a New Beginning — Barry Levine

Podcast: Money & You with Michelle Perkins

November 11, 2025 · 49 min

Listen to Barry Levine on Money & You with Michelle Perkins.

Listen

Ep 201: Freedom Over Fear: Why Bankruptcy Can Be a New Beginning

0:00 / --:--

Money & You with Michelle Perkins

GO TO APPLE PODCASTS →

Key topicsGood Money After Bad — Why Founders Spend the Savings They Will Need NextBarry Levine has advised small business owners in Massachusetts for 45 years, and the money he watches vanish is almost never the company's. It goes in an order he can predict: a supplier gets paid late, a tax filing slips, and the owner quietly starts covering the gap from a personal account, then a retirement account. He argues that the instinct to keep the business breathing one more month is what turns a company problem into a household one, and that the owners who recover are the ones who separate the two early. He has recorded around 14 episodes walking through cases that went exactly this way, and he lays out the signals that a business has stopped paying for itself. Listeners leave able to tell the difference between funding a business and funding a hope.Debt settlement promises can leave panicked borrowers worse offFor personal finance and debt relief listeners, the most dangerous choice is often the one that sounds less scary than bankruptcy. People in crisis may reach for debt settlement programs because they want to avoid stigma, but they still may not understand what creditors, tax authorities, or courts can actually do next. Barry can walk listeners through the practical difference between a marketed promise and a legal process with rules, timelines, and protections. The conversation helps borrowers ask better questions before they commit to a path that may only delay the moment they need real debt strategy. Chapter 13 is not just a slower Chapter 7People often hear Chapter 7 and Chapter 13 as confusing labels, then assume one is simply faster and the other is worse. For listeners dealing with foreclosure pressure, wage garnishment, or repayment problems, that misunderstanding can lead to the wrong decision at the wrong time. Barry can break down how Chapter 13 repayment works, when it may protect someone who needs time, and why Chapter 7 is not automatically the right fit for every distressed borrower. The episode gives listeners a practical decision frame before they try to choose a bankruptcy path from fear alone. View all topics →

About Barry Levine

Bankruptcy Attorney and Debt Strategist for Everyday Americans in Crisis

45 years Representing people in financial difficulty1 book Author, Personal Bankruptcy Through The Looking Glass322 videos On his own bankruptcy YouTube channelBankruptcy attorney Massachusetts

The calls often come late: someone has ignored letters from the IRS, missed too many loan payments, or watched their small business slowly bleed out. They don’t open with legal questions. They ask if there’s any way out.

For almost 45 years, Barry Levine has answered that question with calm, practical guidance. A Massachusetts-based bankruptcy attorney, he works with individuals and small business owners navigating serious financial strain, people who are scared, out of options, and unsure what the next step even looks like. His work isn’t about judgement or quick fixes. It’s about helping people understand what tools are available, how the system works, and what choices they can still make.

What Barry sees again and again is that fear, not just debt, is what traps people. The legal process has structure, options, and predictable outcomes; what derails most clients is the panic that keeps them frozen in place. Barry’s role is to bring order to the chaos. With each case, he applies decades of legal experience to help clients understand what’s happening, what’s possible, and how to move forward with a strategy that restores both stability and control.

He first started practicing bankruptcy law in a hands-on Boston office while still in law school, learning case by case how to navigate both paperwork and people.

Featured onApple Featured onSpotify Featured onYouTube Featured onAmazon

View profile →

About this episode

In this podcast episode of "Money & You," we have an entertaining and important conversation with guestBarry Levine, an experienced and humorous bankruptcy attorney. The conversation focuses on dispelling myths surrounding bankruptcy and addressing the fear that often paralyzes individuals facing financial difficulties.

Levine emphasizes that understanding the legal process and available options can empower people to make informed decisions rather than succumbing to panic.

Levine shares insights from his 45 years of experience, highlighting the importance of recognizing when to seek help and the potential consequences of delaying action. He explains various bankruptcy options, such as Chapter 7 and Chapter 11, and discusses the implications of each. Barry aims to provide listeners with a clearer understanding of bankruptcy in a refreshingly optimistic way. He describes its processes, and how to navigate financial challenges effectively, for a new beginning and the relief that comes with that.

This discussion is important as it seeks to demystify bankruptcy, offering reassurance and practical advice to those who may be struggling with debt, ultimately promoting a healthier relationship with money and financial decision-making.

00:01 - Building a positive money mindset

10:08 - Understanding bankruptcy options

16:33 - Discharging debt in bankruptcy

24:56 - Navigating the bankruptcy process

34:18 - Deciding on bankruptcy filing

44:22 - Resources for financial knowledge

Key Takeaways:

Bankruptcy is not the end; it can be a new beginning and a path to financial freedom.

Fear and misinformation can trap individuals in a cycle of debt; understanding the options available is crucial.Seeking professional guidance can help navigate the complexities of bankruptcy and financial recovery.Maintaining open communication with creditors and considering all available options can mitigate the need for bankruptcyBarry Levine is a seasoned bankruptcy expert with over 45 years of experience. He is the author of "Bankruptcy Through the Looking Glass," which provides a realistic perspective on bankruptcy and its implications. Barry's approach focuses on understanding the legal process and empowering clients to make informed decisions.

For more tools and conversations about money mindset, practical tips, confidence, and financial empowerment…

Subscribe to the "Money & You With Michelle Perkins" Podcast:

Apple Podcasts, spotify, iheart radio and more

Please rate & review and share the show with friends and family who want to feel more confident and in control of their financial lives—it really helps us!

Join the Limit Free Life Community & Blog: https://limitfreelife.com/newsletter

Learn more about Michelle Perkins: https://limitfreelife.com

LinkedIn: Michelle M. Perkins MBA on LinkedIn

Instagram: @livealimitfreelife

YouTube: https://www.youtube.com/@michelleperkins-limitfreel2446For more tools and conversations about money mindset, practical tips, confidence, and financial empowerment…

Guest: Barry Levine