bankruptcy - anybody ever jealous

[Eric80]

I know what you mean and it can be frustrating but just remember that there are ways to get around this - maybe go and speak to a debt advisor where they will be able to guide you in the best direction to suit your situation. for example they may suggest IVA or to consolidate your debt.

Originally Posted by KellyJef

I realized the other day that I felt a little jealous when a woman at Curves was bragging about all the new expensive furniture she bought. She declared bankruptcy this summer so she "doesn't have any bills to pay anymore". I had an awful urge to tell her off.

I guess I felt resentful because there have been several times in my life when I've worked two full-time jobs to pay off my debts (mostly medical expenses).

I think too many people declare bankruptcy simply because it's easier than working to pay their debts

Don't get me wrong, though, I have NO problem with bankruptcy if it's due to situations that can't be helped like medical expenses, death, etc. I am only upset with those who have lived beyond their means with fancy vacations, cars, houses, etc.

[dizzydean]

Originally Posted by Cassius King

First off, I don't think bankruptcy should be an option at all. Do away with it.

Secondly, I can see some of your jealousy/aggravation. The way bankruptcy laws and procedures are setup, someone can file, and in five years have decent enough credit to get the things they need, mortgage, etc.
Someone doing it properly will be paying on their debts probably longer than that. Until they change the laws/policies regarding bankruptcy, it'll always allow, almost encourage people to file.

I have an acquaintance who has filed bankruptcy. He now has a new house in a great part of town, family trips to Disneyland, etc. The whole time I'm paying off student loan, mortgage, adding to savings and Roth.
The way the bankruptcy system is setup right now, just like mortgage reform, it benefits the least responsible people in our society while it hurts the responsible, and as a bonus makes us pay for it. Welcome to the new USA of today!

/gets off soapbox/

Cheers!

I agree. Have a close friend who purchased a second auto, bought a home she tried to get out of, foreclosed on the home, let their lease vehicle be repossessed because it was way over the allowed mileage, filed for bankruptcy, took the family on a lavish vacation, is building a new home right now through a family member, is a professional with a high paying job and lives the good life. Angry, yes I am. The System should make these kind of individuals pay back their debts. I struggle everyday, work hard, and do without. Bankruptcy is designed for those who try to do right, but have an unfortunate situation occur forcing them to file, and not for those who want to better their lifesyles.

[KellyJef]

Originally Posted by Cassius King

First off, I don't think bankruptcy should be an option at all. Do away with it.

Secondly, I can see some of your jealousy/aggravation. The way bankruptcy laws and procedures are setup, someone can file, and in five years have decent enough credit to get the things they need, mortgage, etc.
Someone doing it properly will be paying on their debts probably longer than that. Until they change the laws/policies regarding bankruptcy, it'll always allow, almost encourage people to file.

I have an acquaintance who has filed bankruptcy. He now has a new house in a great part of town, family trips to Disneyland, etc. The whole time I'm paying off student loan, mortgage, adding to savings and Roth.
The way the bankruptcy system is setup right now, just like mortgage reform, it benefits the least responsible people in our society while it hurts the responsible, and as a bonus makes us pay for it.

Gee, you expressed "my" thoughts better than I did! To be clear, when I made my original post, I was simply venting about how unfair the bankruptcy laws seem to be.

[ecoadapt]

I never get jealous nor did I feel any resentment regarding how others file and handle their bankruptcy!