4 ms·
Not an expert (also not american) but your reasoning sounds too simple to me. If everyone could "just" go bankrupt then why would anyone pay debts at all?
by gtsop 3y ago
Not an expert (also not american) but your reasoning sounds too simple to me. If everyone could "just" go bankrupt then why would anyone pay debts at all?
- mrj 3y agoI didn't say it was simple.. but over two decades of struggle seems more than enough experience to justify it.
- jnovek 3y agoBankruptcy essentially makes you a financial pariah for 7 years; e.g. landlords can (and do) deny housing applications over past bankruptcy.
- ajuc 3y ago> If everyone could "just" go bankrupt then why would anyone pay debts at all? Because you lose reputation and assets. It's completely fucked up that companies can bakrupt any time, but people can't. It helps nobody that people are stuck as modern slaves in barely survivable conditions. It's insane that people like you consider this better than the alternative.
- bayouborne 3y agoAbout 15 years ago I had a roommate who, 8 months after successfully filing for bankruptcy in Ga, was offered a credit card with a $700 credit line - unsolicited. She was shocked. It seems that in the perverse world of credit, someone who owed ~$12k but is now 'debt free' as a result of bankruptcy, looks good to some credit outfits. Odd.
- toomuchtodo 3y agoCan't file BK again (and discharge debts) for 2-8 years, depending on circumstances. Makes perfect sense to issue someone credit right after, assuming the product pricing makes it profitable (from a predatory lending perspective).