Tell us more stories about your bankruptcy and what happened?

to you, why u did it and was it worth?

3 Answers

Relevance
  • Don
    Lv 5
    1 decade ago
    Favorite Answer

    I was in business for 20 years when it began a downturn. At first I drew on my line of credit to make up a monthly shortfall. Soon I had to reduce my salary to almost nothing to make ends meet. I had 10 employees and a lot of overhead. Finally I realized that even if I sold everything I had I could not pay off all the debt I had racked up. I declared bankruptcy, it cleared me of all bank debt and credit card debt. I was still able to make my mortgage payment, car payments etc. I started over in a new business and a year later sold it. I am now probably better off than I have been in 10 years.

  • 1 decade ago

    I declared Chap. 7 bankruptcy right before the laws changed, so don't have to pay off my debt that was in the bankruptcy. (Whew!) I did it mainly because of my STUPID AND DISHONEST MORTGAGE COMPANY, not to mention any names *cough, Ameriquest, cough, cough*. I thought I had something worked out with them, but they returned one of my payments because it was one day late--I had wired them the money, too, but they didn't get it on the day they wanted for it to be there--and said I was in default. They waited for a whole month to return the payment, too--I went around thinking I might be able to live in my house after all for a whole month and then found out they had started foreclosure. At that point filing for Chapter 7 bankruptcy was all I could do. (Those lousy fvckers!!!!)

  • 6 years ago

    Tell us more stories about your bankruptcy and what happened?

    T.R.Y

    T.H.I.S.

    S.I.T.E

    W.H.E.R.E

    Y.O.U

    C.A.N

    F.I.N.D

    T.H.E

    B.E.S.T

    S.O.L.U.T.I.O.N

    F.O.R

    Y.O.U

Still have questions? Get your answers by asking now.