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My neighbor telling me last year there soo far in debt they are going to file Bankruptsy,

So they can get rid of debt , they filed he said .. Now 8 months later , they have 2 new Harleys , a new Grand Cherokee. AND THERE GOING ON A CRUISE. And the Govt is paying for his wife to go back to school to be a nurse.

Me being stupid i work every day . pay bills on time. AND HAVE TO PAY FOR MY OWN SCHOOL AND medical bills because the Govt says i dont qualifiy for tution assistance because i make too much .

Iam thinking i just need to say the hell with it start pissin away money take it out of the bank quit my job and let someone else make my bills and payments . and go back to school full time and get paid for it.
 

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QUOTE(bobrob @ Jul 17 2009, 01:07 PM) <{POST_SNAPBACK}>My neighbor telling me last year there soo far in debt they are going to file Bankruptsy,

So they can get rid of debt , they filed he said .. Now 8 months later , they have 2 new Harleys , a new Grand Cherokee. AND THERE GOING ON A CRUISE. And the Govt is paying for his wife to go back to school to be a nurse.

Me being stupid i work every day . pay bills on time. AND HAVE TO PAY FOR MY OWN SCHOOL AND medical bills because the Govt says i dont qualifiy for tution assistance because i make too much .

Iam thinking i just need to say the hell with it start pissin away money take it out of the bank quit my job and let someone else make my bills and payments . and go back to school full time and get paid for it.

That really pisses me off when I hear things like that. What happened to people taking responsibility for themselves? The thing is they are now considered a good credit risk, because they can not file for bankrupcy again for seven years.

I still beleive what goes around, comes around. It will catch up to them.
 

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Bobrob, before you get all pissed off, do you know how they accrued all of their debt?

Was it being irresponsible (biting off more than they could chew) or did they lose their job(s), have enormous medical bills....?

I have little tolerance for people who are mooches and go max their credit cards purposely before filing for bk. Thats just ridiculous. I do, have a little understanding when it comes to a family who loses their job(s), depletes their savings trying to survive after job loss, or has enormous medical bills.
 

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QUOTE(bobrob @ Jul 17 2009, 01:07 PM) <{POST_SNAPBACK}>My neighbor telling me last year there soo far in debt they are going to file Bankruptsy,

So they can get rid of debt , they filed he said .. Now 8 months later , they have 2 new Harleys , a new Grand Cherokee. AND THERE GOING ON A CRUISE. And the Govt is paying for his wife to go back to school to be a nurse.

Me being stupid i work every day . pay bills on time. AND HAVE TO PAY FOR MY OWN SCHOOL AND medical bills because the Govt says i dont qualifiy for tution assistance because i make too much .

Iam thinking i just need to say the hell with it start pissin away money take it out of the bank quit my job and let someone else make my bills and payments . and go back to school full time and get paid for it.

Yes something is wrong - Bankruptcy KILLS YOUR CREDIT, I mean turns it into ZERO. there is no bank in there right mind that would give them a loan on a couple "toy's"

He may have had a couple cards, MAXED them out than hide the cash 6-8 month prior to filling. Now that it's cleared up hes spending the money.
 

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QUOTE(CMB @ Jul 17 2009, 01:15 PM) <{POST_SNAPBACK}>Then you would be part of whats wrong with America. Personally, I am glad I am not a sponge on society.

I'm a sponge on a bar..
 

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QUOTE(Pachanga_Rick @ Jul 17 2009, 01:05 PM) <{POST_SNAPBACK}>Yes something is wrong - Bankruptcy KILLS YOUR CREDIT, I mean turns it into ZERO. there is no bank in there right mind that would give them a loan on a couple "toy's"

Actually, after bankruptcy, your credit risk turns into your favor. You cannot file for another 7 years and banks know this.

I have a good friend who divorced her husband, and unfortunately received most of the debt from the marriage. She worked several jobs and was making headway paying off her debt but the economy soured and so did her jobs. She filed last year and 2 months after discharge, got a car loan from Honda and leases a 2009 Accord. She said before she filed her credit score was in the 400 range, and last time I talked to her (a month or so ago) she said her credit score was 680.

Bankruptcy "killing your credit" appears to be a thing of the past.....
 

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Sponge is a good word,but I clean things up with a sponge and ithey float.

I prefer the term anchor. Drags everyone down with them, and has someone else pull them up!
 

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I don't have it in me to do it, even during my toughest times, I wasn't going to walk away from my responsibilty. I worked hard to have good credit and I wasn't going to throw it away. I'm still going through a tough time, but I make it work and everything will be paid off by 2011 because instead of bankruptcy, I used a credit counseling company and I'm kicking myself in the a$$ for not using them sooner. It was the best thing I ever did and instead of paying for the rest of my life, I was offered a 5 year plan. The payment is tough to swallow because I would rather do other things with that money, but there is a light at the end of the tunnel and that feels good.
 

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QUOTE(bobrob @ Jul 17 2009, 01:07 PM) <{POST_SNAPBACK}>My neighbor telling me last year there soo far in debt they are going to file Bankruptsy,

So they can get rid of debt , they filed he said .. Now 8 months later , they have 2 new Harleys , a new Grand Cherokee. AND THERE GOING ON A CRUISE. And the Govt is paying for his wife to go back to school to be a nurse.

Me being stupid i work every day . pay bills on time. AND HAVE TO PAY FOR MY OWN SCHOOL AND medical bills because the Govt says i dont qualifiy for tution assistance because i make too much .

Iam thinking i just need to say the hell with it start pissin away money take it out of the bank quit my job and let someone else make my bills and payments . and go back to school full time and get paid for it.
I also have worked all my life, payed for my own college, raised three kids and payed all my bills.Hold your head high. I would rather be part of the solution than part of the problem.
 

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I'm with Chriz on this. For those in the OP, that's BS.

But there are a lot of people out there that have worked their asses off all their life, and didn't expect to lose their jobs, or have their wages reduced to half or less of their original wages. What are they to do????

Have you tried to get a second job out there in this market? Not easy, I've been on the hunt for a few months now. There just isn't any out there. I'll work 20 hours a day if I have to, but the work just isn't there.....

How about savings? Burned through all of ours by this spring trying to make ends meet. A lot of people didn't even have a savings out there, for them it's worse. We didn't have much because I made a career change 5 years ago from the military to what I do now, but we had some. Sucks starting over.....but I'm not throwing in the towel yet, however, I can see why some might.

Everybody has their story, some good, some bad, but each story has it's own set of circumstances that you may not know.... But feel free to judge from your cushy arm chairs - like somebody said - what goes around, comes around...

So yeah, you're neighbors are a good example of a bad example, but there are people out there that are good people, but had to make tough decision when they saw no other way out of their situation. For them, I think I am glad that we have such a system in place that allows them some relief. It's not pretty, but what is right now. For those, I hope their situations improve....

Sometimes it just sucks, and you take it in the rear.....

But damn, I haven't been on a cruise (well unless you count the 3 6-month ones on 2 different aircraft carriers...), ever. Maybe I AM doing this wrong!!!
 

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QUOTE(Soo Sassy @ Jul 17 2009, 02:15 PM) <{POST_SNAPBACK}>I don't have it in me to do it, even during my toughest times, I wasn't going to walk away from my responsibilty. I worked hard to have good credit and I wasn't going to throw it away. I'm still going through a tough time, but I make it work and everything will be paid off by 2011 because instead of bankruptcy, I used a credit counseling company and I'm kicking myself in the a$$ for not using them sooner. It was the best thing I ever did and instead of paying for the rest of my life, I was offered a 5 year plan. The payment is tough to swallow because I would rather do other things with that money, but there is a light at the end of the tunnel and that feels good.

So Steph, based on what you said, my friend Denise went for credit counseling and they told her there was nothing they could do - she had to file bankruptcy. I was her moral support through her crisis and was surprised that they werent willing to help. She called 2 or 3 credit counselors (including cambridge) and they all concurred together. How do you feel about that? With no income, she has 2 kids and about to lose her house.

For a lot, filing bankruptcy isnt dodging responsibility and taking advantage- but its a last attempt to preserve their future credit, and possibly keep a roof over their kids heads vs. losing it in foreclosure (which bankruptcy stops).

My Cousin works at Ford and his friend lost his job last year. Right after he lost his job, he transferred his boat to his parents, his toys, car, etc... racked up his credit cards to the tune of a couple hundred thousand dollars. When the unemployment ran out x months later, he filed bankruptcy. Last I heard he has been working for cash and selling a lot of the stuff he bought pre-bankruptcy and living off the earnings. NOW that is a total a-hole taking advantage. However, not everybody does this. But the ones who do sure make people who dont take advantage look real bad!

Bottom line is bankruptcy has a huge negative stigma applied to it, and maybe it should so people dont go running to it after being financially irresponsible. Not everybody who (like my friend Denise) files is a low-life scum mooching d-bag. Some people do it to keep their house/vehicle, some people lost all/some of their income, and like my friend she had 60 resumes out. Not even Subway would hire her, and she has a bachelors degree and many years work experience.

Im pretty sure we all know somebody who has been in financial dire. I know 3 or 4 people. Its none of my business, and I stay out of it. I just wish them the best and send good vibes their way, always remember - what goes around, may very well come around!
 

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I'm one of those who filed...had a heart attack{at 47} and a quadruple bypass with no insurance at the time{between jobs}, Hospital didn't want to work out an arrangement that we could actually afford, kept threatening wage garnishment from my wife, harrassing phone calls, etc etc...hell with 'em, let 'em eat it, I/we tried to be responsible but they wouldn't move a tad to work with us...We didn't go nuts and run up our cards before filing, but sometimes I wonder when I hear about others who do, if maybe we should of...sad state of affairs when those who want to do right but face too steep of road to gain any ground, are treated like scum...and not all filers get their credit back so soon as some might think, but looking at it now it's quite alright...we pay cash or do without till we save enough...good enough for our grandparents back in the day, good enough now! Tuff call to make till you have to!!!
 

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I think you neighbors are yanking your crank. I buy cars for my work. We are having a hard time financing a car and we are a MULTI million $ company. The dealers are telling me people with 800 credit scores are not getting approved so I do not see how your neighbors are buying new cars....

There is some shady stuff going on or they are bs'ing you
 

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QUOTE(Tight_line Tug_a_War @ Jul 17 2009, 07:52 PM) <{POST_SNAPBACK}>I'm one of those who filed...had a heart attack{at 47} and a quadruple bypass with no insurance at the time{between jobs}, Hospital didn't want to work out an arrangement that we could actually afford, kept threatening wage garnishment from my wife, harrassing phone calls, etc etc...hell with 'em, let 'em eat it, I/we tried to be responsible but they wouldn't move a tad to work with us...We didn't go nuts and run up our cards before filing, but sometimes I wonder when I hear about others who do, if maybe we should of...sad state of affairs when those who want to do right but face too steep of road to gain any ground, are treated like scum...and not all filers get their credit back so soon as some might think, but looking at it now it's quite alright...we pay cash or do without till we save enough...good enough for our grandparents back in the day, good enough now! Tuff call to make till you have to!!!

Glad to hear you are ok!! Hope all is well now.

QUOTE(Pornodave @ Jul 17 2009, 08:23 PM) <{POST_SNAPBACK}>I think you neighbors are yanking your crank. I buy cars for my work. We are having a hard time financing a car and we are a MULTI million $ company. The dealers are telling me people with 800 credit scores are not getting approved so I do not see how your neighbors are buying new cars....

There is some shady stuff going on or they are bs'ing you

Dave, they are paying cash. After bk, they have no debt liability and probably had developed a good "mattress" savings account during the filing.
 
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