Quote:
Originally Posted by sweeps
Because it's the right thing to do.
Because you don't want Karma to bite you in the a--.
Because not just creditors but also employers and insurance companies use your credit report to determine how responsible you are.
Because bankruptcy costs you in attorney fees, and filing may not be as easy as you think. You may be required to file for Chapter 13 instead of Chapter 7.
Because bankruptcy is a cost to everyone, not just the lender. That includes you.
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I pass the means test easily. I have close to 20,000 in debt, high interest and I make $9.00 an hour working. I have no assets, car or house.
Bankruptcy costs about $450 if filing alone $900 or so with a lawyer. My case is relatively simple, no business liquidation or assets. Just an individual with outstanding credit debt, so I would be filing without a lawyer.
Basically you are confirming my initial suspicions, that it's a morality play. You use words like "Karma" and "right thing to do". I am not arguing with you, those are admirable reasons. I should say we disagree as to extent of "karma" involved though. If it makes you feel better at the end of the day to make a $40 payment to a company that makes billions in profit each year, so be it. I suppose everyone has their own moral compass they must abide and live by.