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Bankruptcy at this point is just a way to signal to creditors not to lend more money to this individual. As you said alimony, child support, student loans, rest
by conductr 6mo ago
Bankruptcy at this point is just a way to signal to creditors not to lend more money to this individual. As you said alimony, child support, student loans, restitution are a must so the filing simply is a formal notice that "every penny this person ever earns is already earmarked, heed this warning before lending"
- mothballed 6mo agoIt's quite convenient though that it actually discharges the kind of debts rich people and businesses are more likely to accrue, while not discharging the kind of debts the middle/lower classes are likely to accrue when they're unable to pay them.
- conductr 6mo agoAgree. Also convenient that the warning I mentioned benefits those in the business of extending credit