Bankruptcy

[freckles]

I have been Bankrupt

It was a load off my Shoulders $75,000.00 in Debt

I paid Lawyer $1,200.00

Gave lawyer all the Debt amounts etc

Quit paying

Went to Court 2 times with 50 other people

about a year in between

Then Zero Debt

Only thing after Bankrupt Zero Credit/Bad Credit 10 Years

Then is Good

Plus if you Inherit anything within 1 year

The court wants it

It was worth it for me

[freckles]

As you can go bankrupt 3 times in your life

I have 2 Times left

[freckles]

P.S.
Find out the lawers Fee

Then take it out of a Credit Card 3 months before you file

Just a idea

P.S.
I did not do that

[blu]

Thanks Freck, anybody else have any experience?

[rocko]

I know my sister tried to file and her lawyer told her she had to quit paying EVERYTHING for 3 months or something and it was going to cost about 1500.

She didn't do it. She went the let everyone take her to court and garnish her paycheck route. She is the black sheep.

No one else in my family has filed or even considered it. We own businesses and have experienced too many people getting our products then filing so they don't have to pay.

[freckles]

It is a great weight lifted from your sholders

From my Experence Sears/Discover want whatever you have bought from them

The other Credit Cards did not

Your Cedit is Destroyed for 10 years

Then you get it back

When you owe more than you can pay

I had no choice because all at once my Intrest Jumped to the Max on everything and they all moved the due dates as far as they could

So that I could not pay

So I went to a lawyer

Who said stop paying everything

And give him a list of ALL Bills

And I could not charge anything Big 3 months in advance, before I did that

It has been 10 years now for me

My Divorce has got me debt agan, but I am paying it

And will Pay it

because i have a Train of Income as I have a train of debt

[me]

Jul 4, 2008 13:41:00 GMT -5 blu said:

Thanks Freck, anybody else have any experience?

I think what Freck was trying to say in short was. Buy everything you want on credit. Start a small business. Buy a house you cannot afford and a car to. Lots of other things.

Then file bankruptcy.

You will not lose anything but your credit. Meanwhile you will keep the things you have bought. In two years of paying your bills on time you will have sub par credit and still own your business.

You can buy anything but a house on the credit you have. But then again you already bought your house (from the time you got to stay in it without paying anything) from the foreclosure, the sale of what they let you keep and the business thrown your way by the help from the government on contracts, lol.

So you get a mortgage for free. Plenty of business thrown your way and tons of perks like No Tax that year on the business. What A Deal.

So yes Bankruptcy is good if you know how to play it.

And you wonder why we are in the "trillions" in debt in this nation

LOL

But then again...

No one ever said a "Politician" was a "Businessman"

Which is why Jefferson's views still hold true on politics should "never" be a Career