Quote:
Originally Posted by fallenmuffin
You still owe the money when you file bankruptcy. Along time ago you didn't you were wiped clean. But now you still owe your debts. WTF is the point.
Make money, pay your bills, leave within your means. Upgrade sections of your life at a time. Oy.
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This is not true, you've been given some bad information.
Some filers have to file chapter 13 now, which requires that you repay at least a portion of your debts. (You make payments to the court for 5 years, and the court pays your creditors)
It's a pretty complex system and I'm not going to drown in the minutiae here, but the bottom line is that over 80% of chapter 13 bankruptcies fail and the filer ends up in chapter 7 anyways.