Quote:
Originally Posted by bossku69
there are a lot of people filing for bankruptcy because they think this is a good thing to do to get them out of debt. credit card companies are now raping people at 25-30% interest each month and now people cant afford their monthly payments.
my guess is people would rather file bankruptcy than have their house foreclosed on
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But that makes no sence. How is home foreclosure related?
These are unsecured Credit Cards. They cant force a home foreclosure.
Two separate issues. If people cant afford the credit cards, then dont pay em.
They arent going to take your house.
Also I dont understand why bankruptcy? That Chapter 13 doesnt sound good. You still have to make a settled amount payment and have the Bankruptcy on your record??
The card companies already have payment plans set up for people if they ask. Like 0 percent apr and lower monthly payments. Isnt that essentially what chapter 13 does but with more damage to ones credit?
I have a hard time understanding bankruptcy. Really I do.
Especially if its for unsecured credit cards. Why declare bankruptcy when you can simply tell them to fuck off for cheaper and less damage.
Sounds like an easy way out when just putting up a fight would be cheaper and less damaging. But hey thats just me.
I think the attorneys out there are smelling blood and talking people into bankruptcy when they dont need it to make profits for themselves. thats what i think is really happening.