Bankruptcies low in states that don't seize wages

FlippinLady

12:35 AMJul 06 2009

BankRuptcy Cost $$$......is it really worth it?

Charlieofthepcu

03:53 PMJul 05 2009

So, LT PAR... I am dying from cancer, I haven't worked in almost three years, I have over 40,000 in doctor's bills I cannot pay, I have lost my house to foreclosure, I owe 9,000 in charge card bills (whose payments I made on time right up until all my savings were used up). Would you include me in your "deadbeat" collection? It isn't all those people who run up bills and buy houses beyond their budget who run into trouble. THINK of what you are about to type before you let your fingers loose upon the keyboard.

Insurancebaby3

03:48 PMJul 05 2009

Lt PAR, I hope you never have to deal with the loss of a job and insurance while you are in a high risk pregnancy. I had over $30,000 in medical debt when I welcomed my son into the world feb 17 of this year. My husband and I have always lived well within our means, we had one credit card for traveling that we paid off when we used it, $8,000 saved for the down payment of our house when we decided we where ready to buy. 2 vehicles paid off. 401ks that where doing well. A small amount in a college CD for our daughters education. Then my job was gone when my company went out of business. the hospital sold the bill immediatly to a collection company due to its size and my lack of employment. I made arrangements to pay 200 a month and thought all was well. then, the creditors got a judgement against me when the found I had a job and they took all our savings and my daughters money and begain to garnish our wages at 25%. I learned you can do everything right and still end up with t...

Lt PAR

03:03 PMJul 05 2009

Folks, deadbeats are deadbeats any way you paint the picture and it is certainly not the fault of society, or creditors. No one forced the big spenders to buy that house they knew they couldn't afford, or that new SUV, or max out the credit cards. Bankruptcy is merely another spoke in the wheel of the larger government scam, allowing people and businesses to escape accountability. Instead of wiping out debt and shorting creditors the bankruptcy laws should be designed to make people responsible for their actions and spreading payments out over a period of time, even twenty years if necessary. That way, creditors get what is due them and people learn not to spend more than they earn. While we are at it, perhaps government could be placed on the same plan, since it is in non-declared bankruptcy. Now that would be a real accomplishment.