re: Jamal Lewis files for bankruptcy, is $10.5 million in debt

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Chapter 11 is a reorganization, not like a Chapter 7 where you don't have enough assets to pay your debts. The bankruptcy trustee will likely make him sell some of his cars or give them back and put some payments towards his mortgages. It'll mess up his credit a little, but it stops any foreclosures and lawsuits and will help negotiate lower payouts.

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I totally forgot to address this point. He's clearly not broke, and is finally taking the measures to prevent himself from going broke. So SOMEONE got to him and was like, "Dude, you're heading down a path that you don't want to be on. Slow your shite down."

But my point still stands on HOW he got to that point.

Again, you don't see guys from middle class backgrounds going over the top and buying 10 cars when they make it big. Why? Because they don't have to over compensate for not having anything for so long.

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because often people from the more poor backgrounds tend to over compensate for where they came from

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Got to impress white women

one too many zeroes.

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I do not pity anyone that is making 35k a month and is broke. There is absolutely no sense whatsoever in this.

This is 4.2M a year. To put this into perspective, a person making 100k a year has to work 42 years to make what he makes in a single 12 month period.

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People in glass houses shouldn't throw stones bud

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This is understandable, because often people from the more poor backgrounds tend to over compensate for where they came from. They also don't have the sort of support network around them who can help steer them towards the right sort of investments.

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well it's also likely that these people who win coming from these backgrounds are not of high intelligence

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I know it's shocking, but poor people don't know how to manage money...

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that's usually a big reasonw hy they're poor

I give you credit for coming back into the thread

At least he's taking action before he fricks himself Jamarcus style

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Hey, at least they are better than 4lsu2's

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yea i don't know what in the frick he is thinking

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I do not pity anyone that is making 35k a month and is broke. There is absolutely no sense whatsoever in this. This is 4.2M a year. To put this into perspective, a person making 100k a year has to work 42 years to make what he makes in a single 12 month period.

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Math isn't your strong point is it?