I disagree with your last paragraph but wholeheartedly agree with he first 2. One of the things that bothers me about the advice given there is a seemingly irrational aversion to bankruptcy or walking away from a debt. Sometimes that’s the financially wise option.
I really think "You should always have 18 months of expenses saved" (assuming this is in savings) isn't universal. If you're fairly young, single and have a new source of disposable income then a few months savings seems prudent and paying down debt seems like the best course of action. I remember diligently building a large emergency fund knowing I could scale down drastically if I lost my job and seeing interest accrue in accounts I could have paid off. If you have kids, a mortgage, and a single household income you really have to be more risk averse.
I do think bankruptcy should be thought of more as a business decision than a personal decision.
