Democratic Primaries

OKNancy

(41,832 posts)

14. It's so weird when I read how hard it is for families to file and get out of debt

Fri Mar 6, 2020, 08:05 PM

Mar 2020

I will admit something. My husband and I filed Chapter 7 in 2010. I stupidly tried to hold on to my business after the 2008 recession. I held on by using credit cards and a line of credit I had at my bank.
It was super fast and easy. You have to take an online easy financial course. It took about an hour or less. You have to get a new budget and turn that in. I had a nice woman lawyer. We went into a private room with the bankruptcy judge. It lasted 10 minutes.
We reaffirmed our house and car. The only thing is I had a parent loan that I got to send my daughter to college.
That of course is a stickler for many. But since I had no debt, I could pay that.
It was a relief and it was not hard.

It would be hard on someone who tries to wiggle around the laws*. It is harder for high income people because you have to pass a means test and file Chapter 13 instead.

EDIT: I'm editing to add this. If anyone is thinking about filing, don't be scared. It was a really good thing for my family.

*like taking out a cash advance on a card right before declaring

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

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The 20-year argument between Joe Biden and Elizabeth Warren over bankruptcy, explained [View all] CentralMass Mar 2020 OP

Sanders/Warren 2020 BeckyDem Mar 2020 #1

That would be sweet. CentralMass Mar 2020 #3

You realize if Warren was VP the republican Governor of Mass would choose a republican replacement still_one Mar 2020 #4

Did you request she not run at all? BeckyDem Mar 2020 #8

That was different, she was running for president, and a president was well worth it still_one Mar 2020 #16

Your opinion. Warren VP can help Bernie win. I want them both to work on their BeckyDem Mar 2020 #17

Isn't going to happen if Sanders doesnt get the nomination, and things aren't looking very good for still_one Mar 2020 #20

Yea, so I've heard. Biden's policies are not likely to get the Warren ok and for good reason. BeckyDem Mar 2020 #22

honestly i wish i hadnt read that questionseverything Mar 2020 #26

He shouldn't take the money. BeckyDem Mar 2020 #33

Neither of them has much support in the African American community, pnwmom Mar 2020 #5

From your mouth to god's ears! (n/t) wackadoo wabbit Mar 2020 #25

Meh ... Sanders won't be the nominee NCProgressive Mar 2020 #27

I bet she has a bone to pick with Sanders about some of his gun votes. n/t pnwmom Mar 2020 #2

After Sandy Hook Obama's legislation did not pass because of these 4 DEMOCRATS. BeckyDem Mar 2020 #6

Suing gun manufacturers...for sure. That would have been very helpful. Demsrule86 Mar 2020 #9

Over passing the Obama legislation? lol BeckyDem Mar 2020 #12

Two wrongs don't make Sanders right. n/t pnwmom Mar 2020 #10

It made the arguments against him an over reach and one not appled to those Democrats. BeckyDem Mar 2020 #11

Kerry was savaged by the left in the primary(read what Michael Moore said about Gore) Kerry Demsrule86 Mar 2020 #21

He kept going to the right on policy, that is undeniable. BeckyDem Mar 2020 #23

Nice try. But I have some experience with this law as I helped several of my family members through Demsrule86 Mar 2020 #7

I just wrote about my experience in post #14 OKNancy Mar 2020 #15

I absolutely agree...people were hysterical...and yes student loans need to be able to be discharged Demsrule86 Mar 2020 #19

The problem with not including student loans NCProgressive Mar 2020 #28

Exactly what Biden proposes to do--make it possible to discharge student loans through bankruptcy. emmaverybo Mar 2020 #31

Biden does have to answer for votes like this radius777 Mar 2020 #13

no he doesn't wyldwolf Mar 2020 #30

Progressives are 1/3 or so of the party. radius777 Mar 2020 #32

So? wyldwolf Mar 2020 #36

It's so weird when I read how hard it is for families to file and get out of debt OKNancy Mar 2020 #14

I watched the Maddow interview last night.., TDale313 Mar 2020 #18

Thank you for posting this wackadoo wabbit Mar 2020 #24

Well its possiblc her motivations have changed. CentralMass Mar 2020 #29

Rec'd to shine a light on Biden's culpability in the enactment of the Bankruptcy Bill hangaleft Mar 2020 #34

+1 CentralMass Mar 2020 #35

Nurses for Bernie Sanders @Nurses4BernieWI I cried myself to sleep last night. BeckyDem Mar 2020 #37

There is a time to stand for something and this is one of those times. CentralMass Mar 2020 #38

Yes. So many Americans need help. BeckyDem Mar 2020 #39