Originally posted by Y2KSVT:
Originally posted by Ex-Mean'Tour:
Weird place I know. Anyone know much about it? Anyone ever file? What are the negatives?

I'm in MA. I think we are about to file 13, don't have much choice.



I would try and avoid, anyway you can. My Dad has filed twice. It seems like everyone that I know who files, or has filed, almost regrets making that decision. I used to work collections for a bank, and dealt with a lot of bankrupt customers. I can't imagine going to get a loan, and seeing 20%+ as an interest rate, and not being able to do anything about it for atleast 7 years. I know you aren't looking for financial advice, but is there anything you can eliminate from your normal, everyday routine, that can help you avoid bankruptcy? Car payments, large mortgage payments, high interest credit cards?

I guess, the thing I would like to see you avoid, is not learning anything from a bankruptcy, as I've seen way too often. Most people, I guess, use it as an easy way out, and get themselves right back into the same situation, just a few years later. Good luck with whatever you have to do, I know it's not easy!

Mark



See that doesnt make an sense, filing for bankruptcy means you have no money to pay the debts that you have... But when you get a loan to say buy a new car under bankruptcy... the interest rate is coniderably higher... For someone with no money? What?

98 Corolla LE 1.8L DOHC 1ZZFE TEIN H.Tech Springs Tokico HP series Struts Short ram air intake Tsudo Axel Back Exhaust ... if a jelly fish stung me.. would you pee on the wound?