Do we "deserve" a clean slate?

In another thread elsewhere on the board, someone made a comment that no one really "deserves" a clean slate, just because we want one. I wonder what your thoughts are on that - do you deserve a clean slate? Do you feel you're getting away with something you shouldn't?

YES - we all deserve it. :)

I'm sorry, but I feel that the system is set up to get you in debt over your head. I felt no remorse whatsoever filing BK. I've paid so much in fees and interest my whole life, why shouldn't I get a fresh start?

The system is set up so that the rich get richer and the poor get poorer. People who make up the middle class pay the most in fees and interest on debt payments in this country. How is it OK when I pay a bill 12 hours late, capital one/whomever gets $30? THIRTY %$@&* DOLLARS! For not knowing where their money was for 12 hours? What interest rate is that? I don't care what I "signed up" for. If I signed up to have a finger cut off whenever I went over my limit, I guess that would be fine too?

Years ago, if your TV broke, you took it to a repair shop.
Today, you go buy a new TV on credit.

The powers that be know people depend on credit to make ends meet and to pay for things we are constantly told we "need", like new televisions. They abuse their power. I think everyone should file BK :D

I'm sorry, but I feel that the system is set up to get you in debt over your head. I felt no remorse whatsoever filing BK. I've paid so much in fees and interest my whole life, why shouldn't I get a fresh start?

The system is set up so that the rich get richer and the poor get poorer. People who make up the middle class pay the most in fees and interest on debt payments in this country. How is it OK when I pay a bill 12 hours late, capital one/whomever gets $30? THIRTY %$@&* DOLLARS! For not knowing where their money was for 12 hours? What interest rate is that? I don't care what I "signed up" for. If I signed up to have a finger cut off whenever I went over my limit, I guess that would be fine too?

Twenty years ago, if your TV broke, you took it to a repair shop.
Today, you buy a new TV on credit and you can't find a TV repair shop anywhere.

The powers that be know people depend on credit to make ends meet and to pay for things we are constantly told we "need", like new televisions. They abuse their power. I think everyone should file BK :D

Perfectly said!

It is time for another french revolution:aggress:
I am in a very aggressive mood today:)

I'm sorry, but I feel that the system is set up to get you in debt over your head. I felt no remorse whatsoever filing BK. I've paid so much in fees and interest my whole life, why shouldn't I get a fresh start?

The system is set up so that the rich get richer and the poor get poorer. People who make up the middle class pay the most in fees and interest on debt payments in this country. How is it legal that if I pay a bill 12 hours late, capital one/whomever gets $30? THIRTY %$@&* DOLLARS! I don't care what I "signed up" for. If I signed up to have a finger cut off whenever I went over my limit, I guess that would be fine too?

They know people depend on credit to make ends meet, and they abuse their power. I think everyone should file BK :D

Noodle Ma: You aren’t determined in your opinion are you? LOL

We may just get that wish that everyone goes bankrupt. Not too many on this site are remembering a single job family as it was in the 50’s. I remember my Mom being a Mother and making me peanut butter and jelly sandwiches and I actually walked to school. My Dad made good money building tractors at International Harvester for $80 a week. We had all we needed. Then our IRS steps in and it takes two workers to bring in a ‘living’. One works for the taxes, the other works for sustenance of life. Who suffers? The children who are now cloistered, uneducated, turnkey children who in many instances see their parents in between commercials while they scoff up microwavable crap.

Have you ever had a pot roast Mom made? Not Mom pushed the button. Only my opinion. ‘Hub

In another thread elsewhere on the board, someone made a comment that no one really "deserves" a clean slate, just because we want one. I wonder what your thoughts are on that - do you deserve a clean slate? Do you feel you're getting away with something you shouldn't?

it isn't so much as having a clean slate as it is having a second chance & everyone deserves that.

it isn't so much a fresh start either as it is getting a second chance to try and make things better.

2 cents

We may just get that wish that everyone goes bankrupt.

I think she means (not sure) everyone needs to experience it, so they all know what we go through when they make their jabs because it is no cake walk.

I wonder what your thoughts are on that - do you deserve a clean slate?

Whether one "deserves" it or not is irrelevant. If you are eligible for bankruptcy protection, then you have the right to seek relief under this federal law.

I think she means (not sure) everyone needs to experience it, so they all know what we go through when they make their jabs because it is no cake walk.

You got that right. What irks my gurk is seeing repeaters here. I do not walk in their shoes but I sure have learned my lesson's. I am thinking of going C13 in February when my Discharged 7 will be closed. This will allow me to structure a payback of 30k IRS. 'Hub

Noodle Ma: You aren’t determined in your opinion are you? LOL

We may just get that wish that everyone goes bankrupt. Not too many on this site are remembering a single job family as it was in the 50’s. I remember my Mom being a Mother and making me peanut butter and jelly sandwiches and I actually walked to school. My Dad made good money building tractors at International Harvester for $80 a week. We had all we needed. Then our IRS steps in and it takes two workers to bring in a ‘living’. One works for the taxes, the other works for sustenance of life. Who suffers? The children who are now cloistered, uneducated, turnkey children who in many instances see their parents in between commercials while they scoff up microwavable crap.

Have you ever had a pot roast Mom made? Not Mom pushed the button. Only my opinion. ‘Hub

I totally agree with you. I stayed home with my daughter until she was 12 months old and had the time of my life. I planned on staying home until she was three and went to preschool, but I had to go back to work early. I just work part time thank goodness. I cannot imagine working full time and being a mom, although I know many women have no choice.

Something interesting - My boss, who is in his 60's, says he remembers a time when a standard mortgage was 10 years. Then it went to 20 years. Of course now, you see 30 and even 40 year mortgages. Its just crazy how much attitudes toward debt have changed.

Years ago, if your TV broke, you took it to a repair shop.
Today, you go buy a new TV on credit.

Or you could simply save few a new tv... seems like a better idea to me.

Not arguing the clean slate... not sure that we deserve it, but it is required for some of us to get out of the prison that we create for ourselves, have created for us by things beyond our control, or both.

Late fees, interest and penalties are disclosed up front. While it may be a big fee or seem out of line, YOU SIGN THAT YOU AGREE WHEN YOU APPLY. Nobody FORCES you to use credit. We've all decided that credit makes life easier and we WANT things that we otherwise can't have. THAT IS THE PROBLEM.

I've done enough stupid damn things in my life and I hate to see others who don't see the error of using credit for things they don't NEED. It's not the systems that's messed up, its the consumers. Without needy consumers who will do anything to fulfill every whim, the system changes.

Or you could simply save few a new tv... seems like a better idea to me.

Not arguing the clean slate... not sure that we deserve it, but it is required for some of us to get out of the prison that we create for ourselves, have created for us by things beyond our control, or both.

Late fees, interest and penalties are disclosed up front. While it may be a big fee or seem out of line, YOU SIGN THAT YOU AGREE WHEN YOU APPLY. Nobody FORCES you to use credit. We've all decided that credit makes life easier and we WANT things that we otherwise can't have. THAT IS THE PROBLEM.

I've done enough stupid damn things in my life and I hate to see others who don't see the error of using credit for things they don't NEED. It's not the systems that's messed up, its the consumers. Without needy consumers who will do anything to fulfill every whim, the system changes.


Yes, instant gratification. I need what I want when I want it. Things you save for are more treasured. Things are only things. Junk. You surrender freedom every swipe of a credit card. You sell your soul to Citi. 'Hub

Sure, that sounds nice, but the system IS BROKE.

People do not get taught to save for things. Every time you look up there is a new model of this, or a new improved version of that. Magazines are splashed with advertisements with "You deserve it!" taglines. You get taught that if you work hard then you DESERVE a new $1100 television. You get taught that if you buy that new $500 cellphone you will become popular and more attractive.

As far as things being disclosed - its no mistake that these "disclosures" are often in size 2 font and almost appear as an afterthought. They know people do not read the fine print. The financial industry made $17 billion dollars in fees last year. How can that not be taken into consideration?

If I were a rich person and I went into a poor neighborhood and handed out hundred dollar bills to everyone with a note that said (in tiny print) "If you take this $100 you will owe me $200 in two weeks" how many poor people would not take the money? The poor person would think about their hungry kids at home and take the money, and worry about the payback later.

The person giving out the hundred dollar bills has the responsibility to not abuse less fortunate people just because they can.

You have insulted poor people. Do not equate being poor with being ignorant.

People in all walks of life blame others and the system for their inability to face responsibility.

I'm sorry if I did....but having been "poor" myself, I know what you will sign up for when you are desperate. Has nothing to do with being ignorant.

Ignorant consumers do not equate to bad financial companies! Ignoring ANY writing is at your own risk.

It is not the systems job to teach financial responsiblity, its the job of PARENTS.

For myself, I guess the answer is mixed. Do I "deserve" to be let out the mortgage agreements? Yes, because I bought the house with my now ex-husband and we could afford it together. When we split, I knew I'd have to sell it because I can't afford it on my own. After over a year on the market, with my treading economic water and going down fast, I simply cannot sell it. Not for any price, it appears, and certainly not for anywhere near what I owe on it.

That one I consider a pass - it wasn't my fault that the marriage tanked or that the housing market tanked. I did the best I could for as long as I could, and I don't feel bad about walking away from the house.

Much of the credit card debt I've racked up since the divorce are directly due to not being able to make ends meet while carrying teh huge mortgage on my own. I didn't charge up too much luxury (although I will admit to some dinners out, some shows with my kids, some not-bare-bones indulgences), but I feel a little bad about discharging this debt because it really is a cheat.

The marital debt that I was held responsible for (the sale of the home was supposed to wipe this out, according to the divorce papers)? Yes and no. Yes, because my ex and I DID make those charges and DID enjoy the benefits and I feel a bit guilty about discharging them. No, because it was unfair that I was stuck with them and that because the house didn't sell, it's all on my shoulders.

All i want is the same thing as AIG got, and the banks got, no more, no less. give me a milliondollar bailout and i will pay my bills, and stay solvent.

When you become solvent again, and can afford it, are you willing to pay back the money you discharged plus interest?

If not, you are not eligible for the same "bailout".

Do I deserve a clean slate? I'd be lying if I said yes, I knew I was living beyond my means and just kept telling myself that I'd pay more towards it next month, 3 months, a year down the road. Bottom line, I got myself into this mess by being an idiot. I'm not going for a 13 but over the last 8 months of saving to pay my attorney and getting caught up on house and only living on cash and what not has taught me alot. I just hope this will leave an imprint on me to never live as wrecklessly as I did. I, like 'Hub, get more upset at the repeat filers that didn't learn their lesson the first time and vow not to be like them. that' s just my 2 cents. I am glad that I can get a clean slate, but do I deserve it, HELL NO. I did it to myself.

I'm in a CH13 and I don't feel that I'm getting a clean slate that people in CH7's are getting.. Five years of payments (unsecured are getting 45%)...

So true. Maybe someone who is not filing BK and pays their bills on time and in full can chime in on you not paying 55% of your debt.

Jeez, fltoo, what brought you to bankruptcy? Please explain why you're so judgmental toward the rest of us irresponsible slobs.

I've been on this site for 8 months now and lately I've definitely seen an increase of people starting crap with others on this forum. We're all here for one reason, we've been irresponsible with our debt. We are not above others in that manner. Whether you've filed, thinking about filing, listening to other's stories to try to avoid the same mistakes. No MATTER what chapter, people are going to have an opinion, but Fltoo, you're above no one here. Chill out.

What brought any of us here is irrelevent. I did not have any hardship that caused me to file, therefore it is my fault, plain and simple.

Barring personal catastrophes, many of us share the same idea that we are in this predicament due to irresponsibility and it is no one's fault but our own. Read on.

If asked this question 50 years ago I would say we don't deserve a clean slate. (not that I was alive 50 years ago):blink:

Today I will say yes. I feel that while I made all of my bad descisions and no one made them for me the "credit system" in it's current form between credit cards, car leases, sub-prime mortgages, pay day lenders have inflated the cost of goods and services causing everyone to pay more.

Now that the above schemes (which is their appropriate name) are disappearing the economy is returning to normal cash only and we are taking a serious beating getting to that point.

Those that crafted this system are killing us all with bailout money so we need the clean slate to pay higher taxes and inflation to clean up the mess.

When you become solvent again, and can afford it, are you willing to pay back the money you discharged plus interest?

If not, you are not eligible for the same "bailout".


If I ever got rich I would take the amount plus interest that I discharged in bankruptcy and donate it to causes like debtor education. Get some good out of it.

Would I pay it back to the creditors? Sure! You and I just did courtesy of the 700b tarp.

If asked this question 50 years ago I would say we don't deserve a clean slate. (not that I was alive 50 years ago):blink:

Today I will say yes. I feel that while I made all of my bad descisions and no one made them for me the "credit system" in it's current form between credit cards, car leases, sub-prime mortgages, pay day lenders have inflated the cost of goods and services causing everyone to pay more.

Now that the above schemes (which is their appropriate name) are disappearing the economy is returning to normal cash only and we are taking a serious beating getting to that point.

Those that crafted this system are killing us all with bailout money so we need the clean slate to pay higher taxes and inflation to clean up the mess.


So true banca.

In another thread elsewhere on the board, someone made a comment that no one really "deserves" a clean slate, just because we want one. I wonder what your thoughts are on that - do you deserve a clean slate? Do you feel you're getting away with something you shouldn't?

Without the legal "out" we had as to Chapter 13, we would have had to sell our house. Did we "deserve" that option? No, because we put ourselves in the situation to line up to eventually having to file - a major job loss just tilted the heavy debt boat even though we were making excellent money to keep the boat afloat. We should have known that if a job loss occurred and we could not recover with a job that matched the lost funds in a decent period of time, we would have been in bad trouble. My mother used to always state and it is so true - "You make your own bed and have to lie in it."

It was in the paper today that BK's are approaching the 1 million mark for this year so far. Remember, most of those folks are probably deeply mired in debt. Hopefully in the years to come, people will learn that high debt can get you in bad trouble and that it really doesn't matter anymore if you have the next hot gadget on the market to look good to your friends, neighbors and co-workers...

I've been on this site for 8 months now and lately I've definitely seen an increase of people starting crap with others on this forum. We're all here for one reason, we've been irresponsible with our debt. We are not above others in that manner. Whether you've filed, thinking about filing, listening to other's stories to try to avoid the same mistakes. No MATTER what chapter, people are going to have an opinion, but Fltoo, you're above no one here. Chill out.

I just want to comment on the bolded part. Nothing could be farther from the truth. There are quite a few people here who are above & beyond responsible with their debt.

Just because you chose to live high on the hog and above your means does not mean everyone else goes bankrupt for the same reason you are. There are many valid reasons that are beyond peoples control and has nothing to do with not being responsible.

It's all a conspiracy.

I think that we all agree, Bandit, whether stated or not, that there are most certainly circumstances that are out of one's control. Medical catastrophe, divorce, etc.

It's all a conspiracy.

Not only are you smart, you have a wonderful sense of humor. :D

So true. Maybe someone who is not filing BK and pays their bills on time and in full can chime in on you not paying 55% of your debt.


LOL! ROFL.

I can tell one thing for sure, I did not pay 100% of my medical bills. I am lucky that I even have any teeth left to chew with. Other than that I have paid every one of my other bills in full & on time since the first day I was able to go to work. Does that count?

Not only are you smart, you have a wonderful sense of humor. :DThank you.

I just repeat what I read. :)

It's all a conspiracy.


just one conspiracy after another one. there is nothing real, just conspiracies:D and theories...

just one conspiracy after another one. there is nothing real, just conspiracies:D and theories...Well, my theory is, that each individual, although they have similar reasons to file Bankruptcy, are a case each and of themselves.

Whether it's socio-economics or plain greed, fraud, or whathaveyou... we are all here.

I, for one, wish I could pay all my creditors back. I know that the entire system is now collapsing because, well, people aren't paying back what they "charged" (owe).

In the end... do I deserve a discharge of all my debt? (I can't even answer that question, and won't.)

Bandit, yup, it counts. For all your medical problems and all that you have gone through, I have never seen you moan and groan or claim the "unfair" card.

You are an inspiration to me most definitely and probably others here, too.

If I ever got rich I would take the amount plus interest that I discharged in bankruptcy and donate it to causes like debtor education. Get some good out of it.

Would I pay it back to the creditors? Sure! You and I just did courtesy of the 700b tarp.

I would too. I would pay them every red cent. I never did take the attitude of screw them all, even though some of them try to screw us. That includes every doctor & hospital.

Only I would not give them the interest, other than the interest that was due at the time. For example if it was 1% at the time, not all that compounded interest from that time to the present.
I never needed debtor education but i think it was good for a lot of people who dont know what they are doing with money, mostly as in abusing credit.

Well, my theory is, that each individual, although they have similar reasons to file Bankruptcy, are a case each and of themselves.

Whether it's socio-economics or plain greed, fraud, or whathaveyou... we are all here.

I, for one, wish I could pay all my creditors back. I know that the entire system is now collapsing because, well, people aren't paying back what they "charged" (owe).

In the end... do I deserve a discharge of all my debt? (I can't even answer that question, and won't.)

I think most people do want to pay back their debts. But then as they learn about all of this & what happened they go thru emotions & become very angry, depressed & even hostile at times.

I dont know if I deserve it or not, I just know that I am doing my best to keep health insurance so I dont end up in that same situation but to be perfectly honest lately, I cannot even guarantee that to myself. It bothers me that I cant afford the best health insurance and that I will still have debt after these high premiums.

I cannot stand being in any kind of debt. I am just not built for it.

Man, this is a hot thread!

you can sure get some steam out of your ears here today!:)

I dont know if I deserve it or not, See, that's why i wrote that I can't (and won't) say if I deserve it.

We are a society driven by covet and greed. It is all based on what the Jnoe's have. We believe we deserve the same lifestyle, homes, cars, electronics, etc, as the rest do.

So, I'll ask the question to myself...

Q: In light of all that is going on in the country, do I deserve a discharge of some of my debt?

A: Yes... because everyone else is doing it.

(Now, that's about as honest as I'm prepared to be today. Does it represent my true feelings, no, but it's a thought in the back of my mind.)

I felt like we deserved it for sure. We fought tooth and nail after our sons were diagnosed to get some help. We were denied help for a couple different reasons. So we had two choices 1) use credit cards to pay their medical expenses or 2) not help them. I think most will agree #2 is NOT a viable option. We got the state's help one way or another in our situation. Call me what you want. I did what I had to for my boys.

For the record, we still don't get any help for them through either the state or their medical insurance (through hubby's work). We pay out of pocket for everything.

I just sound bitter today, yikes!

nope you dont deserve it... i believe everyone should be made to suffer, as it builds character....... (just kidding)!

I would like to apologize and retract my earlier post on calling Pay Day loans a scheme.

I didn't realize until now that they are sponsoring this forum.

I am sorry, please forgive me.:angel:

:D

I felt like we deserved it for sure. We fought tooth and nail after our sons were diagnosed to get some help. We were denied help for a couple different reasons. So we had two choices 1) use credit cards to pay their medical expenses or 2) not help them. I think most will agree #2 is NOT a viable option. We got the state's help one way or another in our situation. Call me what you want. I did what I had to for my boys.

For the record, we still don't get any help for them through either the state or their medical insurance (through hubby's work). We pay out of pocket for everything.

I just sound bitter today, yikes!

I went through all of that too. I know exactly what you are saying & it is a very painful time from every angle you try to resolve it to try & stay out of debt & stay floating at the same time. but it is not possible when you are paying out of pocket:(

I get bitter over it also and I think I am still trying to figure all of this out.

"do you deserve a clean slate? Do you feel you're getting away with something you shouldn't?"

A CLEAN slate? Aren't we all aware of what a bankruptcy does to our credit score/history? In my late 30's, I had a credit score of 745. Jump ahead a few years and a failed small business, and I am awaiting discharge for my bankruptcy.

I was proud of my payment history and my credit rating. Right up to the point when I realized that my business wasn't going to make it, and that if I didn't file for bankruptcy, my family might not either--I could proudly say that I had never missed a payment, and had paid late maybe twice in my life. I believe in responsibility, accountability, etc. Financial responsibility was taught to me when I was growing up--but I took a chance on a business, and it didn't make it, so here I am.

I didn't think my business would fail. I thought that hard work and enthusiasm would help make it viable, but the economy tanked, and so did my business. There is no debtor's prison anymore, so bankruptcy was a legal option for me.

Whether I deserve it or not, who knows. There are many times when I feel that someone who has suffered through a catastrophic illness, job loss, or divorce is probably more deserving of a fresh start--but, in truth, they don't really get that either. What they get is the chance to discharge their debt, through a legal process, that will mark them as a "bad credit risk" or whatever terminology someone applies, for about 7-10 years. I don't consider that a fresh start. It's better than the alternative--sinking in debt you can never hope to repay, but it's not a fresh start. It's a choice that our laws allow us to make. We have to qualify for it, petition for it, etc.--and then we have to deal with the consequences of that choice.

I guess the answer is that our laws say that I deserve a second chance--not a fresh start, but a second chance.

I would like to apologize and retract my earlier post on calling Pay Day loans a scheme.

I didn't realize until now that they are sponsoring this forum.

I am sorry, please forgive me.:angel:

:D


are you serious? there are pay day loans in the ads here? man, talk about desperate for extra clicks.

People who make a CONSCIOUS effort to try to defraud, take advantage of the current system do not "deserve" a clean slate imho. People who find themselves drawn into the NEED to take advantage of the system deserve a SECOND chance. We have CC debts AND medical bills that keep us from moving on. An unforseen serious illness and loss of income makes it imperative that we (I) consider bk. Do we deserve, don't know. But we certainly do NEED.

I guess the answer is that our laws say that I deserve a second chance--not a fresh start, but a second chance.

you got it! there is no fresh start, but we do deserve a second chance. what goes on our record is hardly what I call a fresh start & ch 13 is probably one of the hardest things anyone will ever have to do.

I'll throw in my 2 cents since I think it my thread that caused this question. I'm the one that stated I was looking for a clean slate.

With the way the system is currently setup it possible for me to get it by declaring chapter 7. Is it fair, most likely not since I knew what I was getting into when I got into my mess. While I never thought I would of declared for BK, now that I know it a option it one I wish to look into.

Just like how major companies are getting bailout such as C and AIG along with every other bank in the country besides a few very smart ones. They knew the risks they were getting into when they got themselves into trouble.

It not a total clean slate as I guess I stated but a 2nd chance. I know I made a mistake. I was a bit out of control and on Money I couldn't afford to lose in the Market, and that no different the person who went to Vegas with a ton of money and debt and lost more then he could afford to lose.

Now my options are to live tight, work my arse off for 2 years working 2 jobs to pay off the debt vs declaring chapter 7.

It got brought up because someone said that for 30k it not worth it to declare BK. While it not the huge amount of debts other have racked up is it still not worthy to declare chapter 7 over that?

We all deserve a clean slate - we deserve to be bailed out too - even more so than Bush's and Paulson's buddies.

I agree, people should be allowed to have a clean slate.

We all deserve a clean slate - we deserve to be bailed out too - even more so than Bush's and Paulson's buddies.

the bush family will never have a clean slate. he ruined it for them & politics forever. him & cheney did a great job dividing his own republican party for some time to come.

i know that is off topic but I had to.

i had to chuckle at a biography i was reading about a colonial soldier in the 1700s... he survived the war, but was hanged in debtors prison... that will teach him to watch his CC debt...

not to mention on this clean slate thing that you are scarred from certain employment & the fresh start idea means you may end up paying higher car insurance premiums.

Thanks Mr. Clean.:unsure:

No we don't "deserve it," but it seems to be the right thing to do. Forgiveness is divine.

Actually, everyone does deserve a clean slate. The idea of writing off debt every seven years goes back to biblical times.

Actually, everyone does deserve a clean slate. The idea of writing off debt every seven years goes back to biblical times.

Things in the past were always easier, whether biblical, 1950's, etc. However, credit cards, predatory mortgages/lending and other credit woes were not around at that time. If everyone in this country were able every 7 years to write off debt, I can't imagine the scenerio involved as life would not be anything like it is; it would be worse as there would be no semblence of responsibility.

I have always felt that filing bankruptcy should be a one time deal - sort of like the Get out of Jail Free card in Monopoly. OK, we have a mess up here - let's clean it up, learn from it and go on from here and ensure it doesn't happen again. Exceptions? Sure...major medical situations...People should plan for possible job losses as they can and do occur as we all know; keep the debt down or no debt; learn to actually save; when/if the job loss happens, you have no unsecured debt and won't end up in the bankruptcy filing ranks.

Actually being the law, that makes it a RIGHT!

Things in the past were always easier, whether biblical, 1950's, etc. However, credit cards, predatory mortgages/lending and other credit woes were not around at that time. If everyone in this country were able every 7 years to write off debt, I can't imagine the scenerio involved as life would not be anything like it is; it would be worse as there would be no semblence of responsibility.

I have always felt that filing bankruptcy should be a one time deal - sort of like the Get out of Jail Free card in Monopoly. OK, we have a mess up here - let's clean it up, learn from it and go on from here and ensure it doesn't happen again. Exceptions? Sure...major medical situations...People should plan for possible job losses as they can and do occur as we all know; keep the debt down or no debt; learn to actually save; when/if the job loss happens, you have no unsecured debt and won't end up in the bankruptcy filing ranks.


By and large, I can agree with what you say. Yes, I should have been twice as vigilant this time around. I wasn't, but then again, I had it coming together. Decent job, rent was nominal (Read take care of Mom and it's basically free) free time to spend (Usually talking with Mom about past, wish I'd recorded it...damint!) overtime was up and down.Vehicle payment wasn't hard $500 a month, but bringing in $2,200+ monthly

Then..WHAMMO!!!!

"In this market, we find that our sustainability is challenged by the amount of excess employees in this company. We therefore regret to inform you that on (Date) your employment with said company will be terminated. we regret having to take this action, but for the companys long term survival, we have chosen to take this action"

So, here I am...Again :dry:

it isn't so much as having a clean slate as it is having a second chance & everyone deserves that.

it isn't so much a fresh start either as it is getting a second chance to try and make things better.

2 cents


I totally agree. We will have this as part of our "record" so it's still a sort of millstone around our necks. It's just that I'll be able to afford to feed my children and clothe them instead of paying credit card companies. And as a reprocussion, I will have to live below my means since I will not have a credit card "safety net". But that's fine by me. :yahoo:

it isn't so much as having a clean slate as it is having a second chance & everyone deserves that.

it isn't so much a fresh start either as it is getting a second chance to try and make things better.

2 cents


Have to agree with this. It definitely isn't a clean slate but a second chance. And I do feel most people deserve a second chance providing that they truly are in over their head and not trying to skirt the system.

So there will be people who do not deserve the second chance but they are fewer than more IMO.

ep

People do not get taught to save for things. Every time you look up there is a new model of this, or a new improved version of that. Magazines are splashed with advertisements with "You deserve it!" taglines. You get taught that if you work hard then you DESERVE a new $1100 television. You get taught that if you buy that new $500 cellphone you will become popular and more attractive.

The one upside to this whole economy mess is that children are learning a ton and the next generation will probably not be one to rely on credit for living expenses.

I hope that's the case anyway.

ep

That sounds like a good thought on which to end this thread.