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07-30-2010, 10:11 PM
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#1 | | Banned (ABWS)
Join Date: Apr 2008 Location: bc
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| bankruptcy for 30,000
would you guys file for bankruptcy if you had 30,000 of debt with no job nor any assets you own that can be taken away??
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07-30-2010, 10:43 PM
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#2 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
Posts: 22,032
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i have no clue how old you are and where you are in life but:
stop gambling.
bankruptcy is hell that you have to live with for a very long time. Even if you become a very responsible individual years down the road your decision to delcare bankruptcy will come back and haunt you.
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07-31-2010, 12:26 AM
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#3 | | HELP ME PLS!!!
Join Date: Oct 2005 Location: Death Star
Posts: 5,707
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why don't you start working places mcdonalds?
gotta at least make 30k in 2 years full time
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Last edited by sexyaccord on 69-69-6969 at 69:69 PM | |
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07-31-2010, 01:42 AM
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#4 | | I contribute to threads in the offtopic forum
Join Date: Jan 2005 Location: North Vancouver
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30k is nothing, you don't have any assets for them to seize but you'll never have anything in the near future if you declare bankruptcy
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07-31-2010, 07:57 AM
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#5 | | I Will not Admit my Addiction to RS
Join Date: Feb 2004 Location: Burnaby
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if this is the situation you are in the first thing you should do is speak to an actual advisor (google credit consuellor). asking revscene for help really isn't going to give you the objective advice you need at this point.
Bankruptcy is a very difficult situation to overcome. the cons are that you are deemed uncreditworthy for up to 7 years. and any creditor that had ever taken a loss from you will likely choose to never lend to you ever again. bankrupts are also considered of being without the capacity to enter contracts. meaning that there may be situations that you will require a lawyer signing off on any commitments you make during this period. Is 30,000 a lot of money to make ? No. Is 30,000 a lot to pay off ? Yes. Is 30,000 a lot to pay off with interest accumulating? YES. For those saying 30,000 isn't a lot, try saving 30,000. Even with steady income you will have other expenses that must be met, rent, food etc.
Where I suggest you start, get a credit counselling company involved. and make a proposal to your creditors. meaning they will act as your agent and attempt to cut you a deal ie 20,000 instead of 30,000. your creditors can potentially take this deal as they will see that the 30,000 is at risk. but be aware if any one of the creditors rejects this proposal you will be put into bankruptcy as a result.
My advice. Call the experts and get real advice.
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07-31-2010, 09:50 AM
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#6 | | Need my Daily Fix of RS
Join Date: Sep 2009 Location: vancouver, bc
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I have a friend that went thru bankruptcy. She was in debt for $40k, and it was just getting bigger with all the interest. She was a full time student and has a part-time job, when and spoke to the credit counselor then conclude that it’s best to go thru bankruptcy. The process was pretty simple; she paid the bankruptcy lawyer $200 out front and $160 per month for the next 9 months. After she was discharged from bankruptcy she was debt free and the stress was gone. She applied for a $200 prepaid credit card to rebuild her credit. She now has to wait 7 years to be back at zero. But at least she is not stressing over money and she looks happier now.
Last edited by turb0fr3ak; 08-03-2010 at 12:45 AM.
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07-31-2010, 10:29 AM
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#7 | | Banned (ABWS)
Join Date: Jun 2010 Location: vancouver
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wow $200 out front for a $40 debt, seems harsh.
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07-31-2010, 11:21 AM
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#8 | | RS.net Licensed Sponsor
Join Date: Jun 2006 Location: Vancouver
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probably $40k
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07-31-2010, 11:29 AM
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#9 | | I told him no, what y'all do?
Join Date: Aug 2006 Location: Vancouver
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personally i would try to avoid bankrupcy b/c it's $ you owe and you're screwing someone over by not paying it, but things happen in life & sometimes you gotta do what you gotta do.
but like others said, speak to a credit counselor. i have a friend who's in the business & he tells me he helps ppl in your situation all the time.
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http://www.revscene.net/forums/showthread.php?t=611711 Quote: Greenstoner
1 rat shit ruins the whole congee
originalhypa
You cannot live the life of a whore and expect a monument to your chastity | Quote:
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat
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07-31-2010, 11:32 AM
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#10 | | Old School RS
Join Date: May 2004 Location: Port Moody
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Originally Posted by LG Hunter  wow $200 out front for a $40 debt, seems harsh. | Please please PLEASE tell me that is sarcastic?
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07-31-2010, 12:38 PM
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#11 | | I told him no, what y'all do?
Join Date: Aug 2006 Location: Vancouver
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Originally Posted by lowside67 Please please PLEASE tell me that is sarcastic? | i just assumed it was a typo and he meant $40k
__________________ Feedback
http://www.revscene.net/forums/showthread.php?t=611711 Quote: Greenstoner
1 rat shit ruins the whole congee
originalhypa
You cannot live the life of a whore and expect a monument to your chastity | Quote:
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat
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07-31-2010, 12:46 PM
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#12 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,560
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Originally Posted by GLOW i just assumed it was a typo and he meant $40k | $200 to erase a $40,000 debt is harsh?
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I'm old now - boring street cars and sweet race cars. | |
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07-31-2010, 01:27 PM
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#13 | | I Will not Admit my Addiction to RS
Join Date: Feb 2004 Location: Burnaby
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he meant $200 was the fee the credit counselling company charged for their services. They are generally non-profit organizations.
he also stated that it was a $40 debt that it all started with. so with additional debts + interest/ fees, who knows what the real amount of discharge was.
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07-31-2010, 02:33 PM
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#14 | | Banned (ABWS)
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Originally Posted by lowside67 $200 to erase a $40,000 debt is harsh? | learn to read
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07-31-2010, 03:42 PM
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#15 | | I *heart* Revscene.net very Muchie
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if you plan on leaving the country and never coming back, or never plan on loaning any money in the future from the bank, including mortgage, financing cars, leasing, etc, until you die. Then go for it. But if you do ever want to get a house.... you're going to screw urself.
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07-31-2010, 03:46 PM
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#16 | | Old School RS
Join Date: May 2004 Location: Port Moody
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Originally Posted by LG Hunter learn to read | Excuse me?
What part did I misread?
Perhaps you should learn to make your points a little more concisely. What you wrote could mean any one of three things depending on what part we assume you screwed up in your writing.
-Mark
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I'm old now - boring street cars and sweet race cars. | |
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07-31-2010, 04:27 PM
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#17 | | Banned (ABWS)
Join Date: Jun 2010 Location: vancouver
Posts: 349
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Originally Posted by lowside67 Excuse me?
What part did I misread?
Perhaps you should learn to make your points a little more concisely. What you wrote could mean any one of three things depending on what part we assume you screwed up in your writing.
-Mark | Read to learn
-James Dr No From Russia With Love Goldfinger Thunderball You Only Live Twice On Her Majesty's Secret Service Diamonds Are Forever Live And Let Die The Man With The Golden Gun The Spy Who Loved Me Moonraker For Your Eyes Only Octopussy A View To A Kill The Living Daylights Licence To Kill Golden Eye Tomorrow Never Dies The World Is Not Enough Die Another Day Casino Royale Bond
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07-31-2010, 04:28 PM
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#18 | | HELP ME PLS!!!
Join Date: Jan 2004 Location: here
Posts: 5,793
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^ poster put debt was $40. so yes paying $200 to wipe out a $40 debt would be harsh... and really stupid
they probably ment $40k. but that is not what they wrote. they wrote $40 so that is what you read.
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07-31-2010, 05:34 PM
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#19 | | I answer every Emotion with an emoticon
Join Date: Jul 2006 Location: V
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STOP GAMBLING
dumb shit.
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08-01-2010, 06:43 PM
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#20 | | Banned (ABWS)
Join Date: Feb 2009 Location: Kits/Richmond
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Bankruptcy haunts you for 7 years afterwards. My parents went bankrupt and couldn't get a CC or loan for years. Its been 15 years now and they don't have any more problems with credit.
Bankruptcy can be very good as long as you plan to live off cash for the next 7 years. No credit (mortgage, car loan, CC, LOC, ...) and renting places that don't require a credit check.
Bankruptcy can also be very good if you leave the country. Your bad credit does not follow you, yet you do have to start over with zero credit history in the new country.
RRSPs are protected in bankruptcy, just make sure you don't liquidate everything to put it into your RRSP, or they will not be protected.
I do not advocate bankruptcy, since it screws good people like me that invest in people paying off their credit... yet I do appreciate and understand the merits of bankruptcy.
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08-02-2010, 01:34 AM
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#21 | | Banned (ABWS)
Join Date: Mar 2007 Location: burnaby
Posts: 255
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Is there no way to recover money the money for a creditor in bankruptcy? My gf lent 25,000 to a friend and they paid very minimal if anything back. You gotta jump through hoops to get the guy to pay a couple of hundred back.
I told her to just sue his ass and garnish his wages, but what happens if he quits his job when I sue him? And she's worried she's gonna lose all her chances of any money back if he declares bankruptcy. Any ideas? Posted via RS Mobile | |
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08-02-2010, 07:32 AM
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#22 | | I don't get it
Join Date: Nov 2006 Location: vancouver
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diesel test - sign yourself up for the self exclusion program and get some counseling, you don't want this cycle to continue in the future.
Last edited by tacobell; 08-02-2010 at 07:37 AM.
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08-02-2010, 07:13 PM
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#23 | | I Will not Admit my Addiction to RS
Join Date: Feb 2004 Location: Burnaby
Posts: 577
Thanked 20 Times in 13 Posts
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are people just assuming that the poster has a gambling issue?
if every person with 30,000 of debt is a gambler then the united states would have a few on every block.
important question as well, are gov't student loans involved? as these are not included in bankruptcy.
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08-03-2010, 12:42 AM
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#24 | | I contribute to threads in the offtopic forum
Join Date: Nov 2001 Location: Vancouver
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^ if memory serves me correctly, i think diesel_test has posted about his gambling issues before, which is why people seem to be referring to that...
i could be wrong, but i sort of recall that
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08-03-2010, 06:35 AM
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#25 | | Willing to sell body for a few minutes on RS
Join Date: Jul 2001 Location: Cloverdale
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Originally Posted by What_the? ^ if memory serves me correctly, i think diesel_test has posted about his gambling issues before, which is why people seem to be referring to that...
i could be wrong, but i sort of recall that | Ya he does, just search casino losses thread and it's pretty evident.
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The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa | |
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