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re: Who here has declared bankruptcy?
Posted on 5/8/19 at 10:23 am to TigersHuskers
Posted on 5/8/19 at 10:23 am to TigersHuskers
quote:
Guy I work with says he does it every 7 or 8 years and has no regrets doing it.
I could be wrong, but I assumed you could only do it so many times.
Does he pay cash for everything?
0
Posted on 5/8/19 at 10:24 am to Tyga Woods
quote:There's a price for everything. Interest rate is probably 1000%.
Which moron banks keep giving this idiot credit cards??
Posted on 5/8/19 at 10:24 am to TigersHuskers
they can take your house away for student loan debt but not bankruptcy? thats interesting if true
Posted on 5/8/19 at 10:25 am to Tyga Woods
quote:
Which moron banks keep giving this idiot credit cards??
I was eating lunch next to a bunch of used car salesmen one time. They were talking about how they loved people that filed bankruptcy, because they couldn't file again for so many years and you could charge them high interest rates.
Posted on 5/8/19 at 10:25 am to rocket31
Depends if its exempt or non exempt property. I'm pretty sure in Nebraska your house, shite you have in your house, And your car are exempt.
Posted on 5/8/19 at 10:26 am to TigersHuskers
quote:
Guy I work with says he does it every 7 or 8 years
Doesn't it basically stay on your record for that long? If so, how does he get any credit to go into debt in between? I know only one guy who I know has been thru it. He was pretty damn miserable. He couldn't even get a cel phone except for the pay as you go things.
Posted on 5/8/19 at 10:26 am to dfintlyHmmrd
quote:
That might be the trashiest thing ever mentioned on the OT, wtf is wrong with him?
Guy I grew up with worked the system with his then fiancée to the point they bought house, cars, furniture for house, wedding, honeymoon all through credit and cash advances and filed bankruptcy immediately after honeymoon. This was about 10 years ago. Combined income was probably around 90k at the time.
Posted on 5/8/19 at 10:26 am to rocket31
quote:
they can take your house away for student loan debt but not bankruptcy? thats interesting if true
you kind of misphrased that
your home is (usually) protected in bankruptcy
student loan debt is not dischargeable in bankruptcy
if you have non-SL debt and don't discharge it in bankruptcy (for whatever reason), they can seize your assets (including your home)
Posted on 5/8/19 at 10:27 am to TigersHuskers
I think they can't touch your primary residence or 401k.
Not sure on car?
Not sure on car?
Posted on 5/8/19 at 10:28 am to SlowFlowPro
gotcha
Posted on 5/8/19 at 10:37 am to TigersHuskers
quote:
Well he already owns his house and doesn't need anymore big loans so he just runs up his debt. He says that they cant take his house or car away which I thought they'd do if you declared
As trashy as it is, it sounds like it could be a smart move. Assuming he never needs a loan or credit. Is he working the system? How do the smart finance guys feel about it? Smart move?
This post was edited on 5/8/19 at 10:39 am
Posted on 5/8/19 at 10:50 am to TigersHuskers
quote:Only when someone else ends up with Boardwalk and Park Place and builds hotels before I can get cheaper monopolies and build on them.
Who here has declared bankruptcy?
Posted on 5/8/19 at 10:54 am to Celery
quote:
Smart move?
For a piece of shite person? Yes
Posted on 5/8/19 at 10:55 am to TigersHuskers
I think you have to have money first.
Posted on 5/8/19 at 10:57 am to TigersHuskers
quote:
Guy I work with says he does it every 7 or 8 years and has no regrets doing it.
Well, I’ll give him this much, I’ll bet he doesn’t have to worry about someone stealing his identity.
Posted on 5/8/19 at 11:12 am to TigersHuskers
quote:What happens if you stop paying on the bankruptcy? I know someone who is doing that now. Total oxygen thief who doesn't pay CS or basically anything else. Definitely a leech on whoever he is with.
Depends if its exempt or non exempt property. I'm pretty sure in Nebraska your house, shite you have in your house, And your car are exempt.
Posted on 5/8/19 at 11:40 am to TigersHuskers
Guy I work with has said he plans to run up his credit cards when he's in his twilight years. He has 401k, etc but doesn't think he'll have enough to last into his 80's, so he'll just rack up on those high limit cards. He said wtf does he care about bankruptcy at 80+ yrs old.
Gotta say it doesn't sound like a bad idea.
Gotta say it doesn't sound like a bad idea.
Posted on 5/8/19 at 11:45 am to Celery
my kinda friend bought house at 22. declared bankruptcy cus he couldn't afford. three years later he out here with a new crib and decent cars for he and his wife. fr
Posted on 5/8/19 at 11:58 am to Mr Perfect
quote:
my kinda friend bought house at 22. declared bankruptcy cus he couldn't afford. three years later he out here with a new crib and decent cars for he and his wife. fr
I mean frick it might as well. If everyone else is playing the system why not?
Posted on 5/8/19 at 12:01 pm to TigersHuskers
idk they both have decent jobs and stuff but seems like he out here making govt look like true fools
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