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What do you think about the rampant use of irresponsible bankruptcy in this country?

I see people filing bankrutcy all around me. I am talking the ones who rack up debt and then want a bail out. Not the those that fall on hard times from medical bills, disability and unable to work.
The bankruptcies granted to the irresponsible people who are chosing it as a way to wipe their slate clean and start over. They don't wnat to change they just want to continue wreckless spending. In an economy like we have today how is this helping?

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pd1

Asked by pd1 at 3:49 PM on Jan. 13, 2009 in Money & Work

Level 1 (0 Credits)
Answers (2)
  • We all make mistakes. Sometimes we need a way out. Credit card companies charge way to much for APR's and finance charges. I am filing a Chapter 13, which will not wipe away my credit, it will consolidate it and cut it in half. I have a baby and cannot make ends meet paying 300.00 on eah card a month. I have tried really hard to pay, but it's time now that I take other action. I learned from my mistakes and will never have another credit card my whole life and will teach my baby the same as time goes by. I am not ashamed. I am paying 3000.00 to file Chapter 13 and will be relieved. Don't judge those that make mistakes. Life's a dance we learn as we go, sometimes we lead and sometimes we follow : )
    Anonymous

    Answer by Anonymous at 3:54 PM on Jan. 13, 2009

  • I am not going to judge anyone without knowing their stories. It can happen to anyone of us and we can go from fine to bankrupt in a fraction of a second.. It's life.
    pupmom

    Answer by pupmom at 8:11 PM on Jan. 13, 2009

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