Active Users:368 Time:04/09/2025 05:59:14 PM
Back to Messageboard Post New Thread Search Help Stats Rules
Re: bankruptcy is hardly a bailout PerrinWT Send a noteboard - 19/02/2010 07:13:04 AM

not since the bankruptcy act which does not allow you to declare bankruptcy and get out of your credit card debt from doing so. so, you're still on the hook for those credit cards, even if most of the rest of your debt is erased (or close to it). not only are you still liable for credit cards, but in some cases, your credit card debt takes precedent over things like child support/alimony. i would hardly call consumer bankruptcy a bailout, but i guess it's probably the closest thing the average person has...


Much of what you said is simply not true. You absolutely can walk away from credit card debt, mortgage debt, IRS debt, etc...

The different in the 05 laws is you could not abuse the system as much as it was before. Prior to 05 I could wrack up 20k in credit card debt a short time before I filed, and walk away from it all. That's just bad policy.

Under the new law I have to pay back any major purchases made within the last 90 days before filing. If it is an extremely large purchase, i.e. 100k cash loan 6 months out, you will get challenged on it and might have to pay it back.

Bankruptcy is the bailout solution for many consumers.
Reply to message
Plane Crash Suspect's Online Diatribe Aisha - 18/02/2010 08:50:36 PM 1048 Views
Here, have an apostrophe: ' Tim - 18/02/2010 09:27:55 PM 611 Views
You're welcome. *NM* TaskmasterJack - 18/02/2010 09:39:26 PM 233 Views
Crazy stuff. Glad that so far nobody besides him has died... Brian - 18/02/2010 09:32:07 PM 492 Views
Definately not to start a fight about anything regarding anything.... Jeordam - 18/02/2010 11:05:50 PM 662 Views
Well, according to the definition ... Nate - 18/02/2010 11:43:08 PM 596 Views
We'll never know his ultimate motivation for sure but I suspect he would take great pleasure in... everynametaken - 19/02/2010 12:47:22 AM 579 Views
He made his motivation chillingly clear. Joel - 19/02/2010 03:22:28 AM 502 Views
It's a growing sentiment in TX and other "red" states.... Brian - 19/02/2010 04:03:00 AM 521 Views
Ya'll realize dude ended his suicide note by quoting Marx, right? Joel - 19/02/2010 04:42:01 AM 696 Views
It was an act of violence to prompt a political response. Joel - 19/02/2010 03:28:57 AM 576 Views
Well, since YOU brought it up... beckstcw - 19/02/2010 02:15:40 AM 505 Views
I had to drive by there yesterday... Joel - 19/02/2010 03:17:42 AM 483 Views
I have to respond. PerrinWT - 19/02/2010 04:38:40 AM 769 Views
one point moondog - 19/02/2010 05:30:46 AM 574 Views
With subsidies and tax breaks some pay negative taxes despite healthy profits. Joel - 19/02/2010 05:52:40 AM 437 Views
Re: one point PerrinWT - 19/02/2010 06:07:42 AM 477 Views
bankruptcy is hardly a bailout moondog - 19/02/2010 06:48:02 AM 466 Views
Re: bankruptcy is hardly a bailout PerrinWT - 19/02/2010 07:13:04 AM 470 Views
i'm still not convinced moondog - 19/02/2010 03:12:03 PM 615 Views
besides... everynametaken - 20/02/2010 12:58:55 AM 597 Views
A LOT of things are different depending on whether a corporation or human being does them. Joel - 23/02/2010 11:41:15 PM 476 Views
You don't know many corporate accountants do you? everynametaken - 20/02/2010 12:56:20 AM 512 Views
Welcome to the fray. Joel - 19/02/2010 05:49:08 AM 587 Views
I couldn't sleep. PerrinWT - 19/02/2010 07:07:34 AM 515 Views
With apologies for the delay. Joel - 31/03/2010 04:53:04 PM 620 Views
Not to endorse Joel's love declaration to socialism, but you're not exactly one to talk re: strawmen Legolas - 19/02/2010 04:21:50 PM 611 Views
There is a huge difference between greed and motivation, drive, and ingenuity. everynametaken - 20/02/2010 01:07:12 AM 480 Views
Then fucking go already, and stop trying to impose this dream society on the rest of us Cannoli - 19/02/2010 02:21:30 PM 687 Views
Preferably to the moon *NM* ßelals Girl - 20/02/2010 08:50:11 AM 252 Views
The moon is covered in Maria, and thus no place for me. Joel - 23/02/2010 11:04:54 PM 525 Views
I'm not imposing on anyone. Joel - 23/02/2010 10:00:49 PM 513 Views
When you work for the IRS you take your chances. Cannoli - 19/02/2010 02:23:00 PM 552 Views
are you fucking kidding me? Aisha - 19/02/2010 02:34:11 PM 514 Views
Yes, because you are so easy, and I am out of shoe-throwing range. Cannoli - 19/02/2010 02:46:27 PM 579 Views
Re: Yes, because you are so easy, and I am out of shoe-throwing range. Isaac - 19/02/2010 03:00:56 PM 522 Views
are you real person? random thoughts - 22/02/2010 04:40:28 PM 544 Views
It can be hard to tell. Joel - 23/02/2010 11:09:51 PM 492 Views
*shudders* Oh, thanks so much for that mental image. Legolas - 23/02/2010 11:49:00 PM 531 Views
Me 'n Glieseian could be "the reasonable Texans. " Joel - 24/02/2010 12:13:14 AM 718 Views
So I guess that makes it 80-1 for the month of February. Dragonsoul - 19/02/2010 08:42:15 PM 617 Views
As charming as ever I see. *NM* everynametaken - 20/02/2010 01:08:22 AM 223 Views
Look, I think Dragonsoul take the Muslim thing too far occasionally beckstcw - 20/02/2010 05:40:58 AM 526 Views
Weak is all hes got. Dragonsoul - 20/02/2010 08:36:27 AM 492 Views
I've noticed that while everynametaken is a quality poster... beckstcw - 20/02/2010 10:14:09 PM 533 Views
I find that he tends to do it when he wants to argue a cause... Dragonsoul - 20/02/2010 10:16:50 PM 509 Views
I don't bother with you because you don't actually want to hear what I or anyone else has to say. everynametaken - 21/02/2010 12:37:40 AM 517 Views
In denial much? Dragonsoul - 21/02/2010 01:38:31 AM 644 Views
Again, if you think thereligionofpeace.com is a serious source then you are simply sad. everynametaken - 22/02/2010 01:06:55 AM 632 Views
And again, if you can refute anything on the site... Dragonsoul - 22/02/2010 02:13:00 AM 464 Views
Religionofpeace.com IS flawed, however... beckstcw - 22/02/2010 11:19:59 PM 494 Views
Is it? Legolas - 20/02/2010 10:26:16 PM 514 Views
Well... Dragonsoul - 20/02/2010 11:14:05 PM 559 Views
Exactly. Besides that I don't take his source as a source at all. everynametaken - 21/02/2010 12:21:15 AM 515 Views
Well that's quite selective. Dragonsoul - 21/02/2010 12:35:07 AM 519 Views
Whoopty-fucking-doo! everynametaken - 21/02/2010 12:42:28 AM 547 Views
I'm hateful? Dragonsoul - 21/02/2010 01:31:17 AM 550 Views
Re: I'm hateful? everynametaken - 22/02/2010 12:57:22 AM 680 Views
Well I feel the same way about you! Dragonsoul - 22/02/2010 02:13:49 AM 631 Views
If Dragonsoul brought it up out of nowhere, then it's not an issue beckstcw - 22/02/2010 11:12:57 PM 567 Views
We'll have to disagree there, then. Legolas - 23/02/2010 08:26:29 PM 437 Views
That's no one's fault but her own. Dragonsoul - 24/02/2010 12:23:56 AM 512 Views
Back to Messageboard Post New Thread Search Help Stats Rules

Reply to Message

Block Quote Paragraph Quote
Formatting
Smiley Codes