Quote:
Originally Posted by pornguy
I think that a lot of people are using this as a way to start over. They run it all up as high as they can and then file.. I think that the government/banks should be looking closely at this and respond appropriately when they find it.. its fraud when they do.
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I have to agree. A friend of mine is getting divorced right now. It is a bad time to divorce if you have to sell a house. He alone can't afford to keep the house so they are going to sell it. They bought it for 190K three years ago and now it is worth about 140K. The bank said they will let him short sell it for 140K and forgive the rest. They have a ton of debt via credit cards and stuff like that (part of the reason for the divorce) and his soon to be ex-wife has already said she wants this to go through quickly because she is a school teacher and just got hired at a new school. She starts in the fall, but if they can get the divorce done before then she is going to declare bankruptcy before she has any income so she can just wipe her debt out. She says herself she doesn't want to be in debt for years paying it off so she is taking advantage of the times.
That said I think there are a lot of people who are hurting. There are a lot of people who have been out of work for months and months and that can destroy you. If during that time you have some kind of medical issue and have no insurance you can easily get buried in an amount of debt you can't get back out of.