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2023-11: Warosu is now out of extended maintenance.

/diy/ - Do It Yourself

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167445 No.167445 [Reply] [Original]

Hey /diy/ I need your help and don't know if this is the right place to post so don't be so harsh. I was thinking about filing Chapter 11 Bankruptcy with my well over $20,000 in debt from my dead-end job and son I'm raising. My question is what would YOU in my case do? Should I go out and buy whatever looks nice before filing? Anyone have any ideas or input please, this will help! Thanks /diy/

>> No.167453

>I lived beyond my means and now have to file for bankruptcy. What things should I buy beyond my means before doing so in an attempt to be the biggest douche I can?

Fuck you, sir. Fuck you right proper.

>> No.167454

people like you are the reason the US economy is royally fucked.

please go take a long walk off a short pier.

>> No.167455

paying 30% interest is what happened
greedy jew bankers tricked us all
id run up as many credit cards as you could dude, then file.

>> No.167458

>>167445
Providing for my sons education is not an easy task, he goes to a university.

>> No.167461

>>167458
> then loan as much money as you can
> put on account in switzerland
> give your son access
> become an hero

>> No.167462

The U.S. has wayyy more problems than bankruptcy, after all American politicians are not known for their ideas

>> No.167463

Bankruptcy laws have changed. If you plan on doing that OP you'll get it right in the ass by the government. Just pay $10 to every non-utility bill collector and tell them to fuck off if they want more.

>> No.167464

>>167462
actually, in europe they're known as the bunch that will ruin the planet pretty soon.
please vote for ron paul. we're not interested in ww3.

>> No.167466

Aren't the new rules that even if you file for bankruptcy, you still have to pay back your creditors?

>> No.167467

>>167464
Ron Paul, last I heard, wants to go back on the gold standard.

While in theory this is a good idea, the initial impact of this action will be a clusterfuck. It is a perfect example of "it'll get worse before it gets better."

>> No.167469

>>167467
he has his flaws, but at least he's not a war mongering prick like some of the other ones, and he's certainly not michelle bachmann

>> No.167470

>>167464
>europe
>Greece
>Spain
>Ireland
>Portugal

jonsnowlaughing.exe

>> No.167472

>>167470
sweden, actually. and no, I really don't want to be part of EU.

>> No.167475

>>167472

Well, you are, so don't go shitting on other people's shitty political constructs when the political construct you're a part of is just as shitty.

>> No.167477

>>167475
partially part of. most people really don't want to be in it, I blame our faggot government. anyway, are you defending people like gingrich and bachman? in my opinion, your politicians today have a very skew intelligence:power ratio, and it's becoming dangerous.

>> No.167486

>>167477

I'm not defending anyone. Your politicians and mine are out to fuck both of us. It's the few and far between Ameribro or non-Ameribro that sees that. Saying that one is better or worse than the other is simply arguing over who's the second best at the Special Olympics.

>> No.167489

>>167486
I think you misunderstood me; I'm comparing our politicians, I'm comparing yours, and weighing the various potential outcomes, and the brighter future seems to be the one with Paul.
I only care because your politicians have more opportunities to fuck me than even my own do.

>> No.167490

>>167489
that made a lot more sense to me when I wrote it.. I hope you can decipher my wonky grammar.

>> No.167496

>>167489

I get your drift. I just think that your politicians suck just as bad as mine. Paul has no chance, by the way, but I still voted for him in my primary.

>> No.167501

>>167496
my politicians are toothless, spineless little pricks that follow the whims of any and all lobby groups with a budget of more than $5.
I hate my politicians as much as I hate yours, and as useless as it may be, I'm going to vote pirate next time.

>> No.167507

This entire thread is not /diy/.

>> No.167509

>>167445
GB2/adv/

>> No.167516

Take two people. Give them equal jobs with the same paycheck. Give one $10K in credit card debt, and give the other $10K in a savings account. Visit them in 10-years time. Instead of a $20K difference in worth, there will be $200K+ difference between them!

Once you have debt, the banks can bleed you dry. But the banks can do very little to the person with no debt.

>> No.167587

Why has this turned into a political argument?

>> No.167627
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167627

Hungaryfag here. You folks have it easy.

>> No.167671

>>167458

Really faggot? Why the fuck is he going to a Uni when he/you can't take the entire loans on?

>> No.167676

I love this shit. So your son is smart enough for college, but not smart enough to see that the tuition will lead to crippling debts for the rest of your life and wage-slavery for the rest of his, no matter what career he ends up with.

>> No.167687

>>167676
>smart enough for college
>implying you have to be smart to get into college

There are a lot of colleges that will let in just about anyone. All they want is your money.

>> No.167718

https://www1.salliemae.com/after_graduation/manage_your_loans/borrower_responsibility/managing_debt/
bankruptcy.htm

>> No.167907

>>167627
If your so hungary why not eat some turkey

>> No.169002

>>167687
Getting into college is the easy part. Making it past your sophomore year is the hard part.

Once you get to be a junior, it's smooth sailing.

>> No.169019

>>167907
*rimshot*

>> No.169026

Op do you have the money to make minimum payments on everything? if so pay minimum on everything and throw any extra money at the smallest loan, once thats paid off you can throw the money from that at the next smallest and so on.

>> No.169031
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169031

>>167445
>$20k in debt my life is over.

please die

>> No.169038

>>169026

Pay off whatever has the highest interest rate first. Going for the smaller amounts might make you feel better but it wont save you any money. Its better to cut $100 off debit that is costing you 20% APR every month (saving you about a buck sixty in interest) than it is to cut $100 off something with only 10% APR (saving you only about eighty three cents in interest). Also, try to get out from under cards that charge an annual fee or get them to drop the charge. If you had them for awhile and made off of your payments on time they might very well wave the annual fee or lower your interest rate if you call and ask them too and threaten to take your business elsewhere. Wont case they say no and you will have wasted a few minutes of your time. Call on a Tuesday, you'll spend less time on hold.

>> No.170150

Bankruptcy is still left to the states.

You nerd to do a Google search fo tour state. First is to take an online means test. This will tell you if you qualify.

Next us to get a free consultation with a BK attorney. Part of the new law is that you need a lawyer now... DIY not allowed. Gonna cost you about $1K.

Do NOT buy anything. The court WILL seize anything you buy over $500 within 3-6 months before filing. Your attorney will have all the details.

>> No.170155

>>167470
>>167462
>>167477
>>167486
>>167489
to quote one of my favourite fucking bands:
"THE WORLD IS STILL FUCKED
AND RUN BY FOOLS
AND IT DOESN'T SEEM TO MATTER WHICH DRUGS YOU USE YOU STILL TURN OUT THE SAME"

so quit your fucking bitching.

and OP; don't be a fucking cunt as well as a faggot. shit, son. $20G's of debt? what the fuck did you buy? an Audi?

did you tell little daddy's boy he could have the latest fucking xbox to fit in with his friendlings at school even though it meant getting a credit card?

then shame on you. it is always possible to live within your means; you just won't fucking enjoy it.

>> No.171548

First of all, you're probably looking at a Chapter 7, most commonly used to discharge credit card debt, medical bills, repos, broken leases, etc.

>>167466
Absolutely not. The new law that took effect the end of 2005 was meant to force more people into Chapter 13, where you pay a percentage on your debts. Chapter 13 filings increased for about 18 months after the law change - now, we're back to 70-75% Chapter 7 filings.

>>170150
Pretty much true. If you try to do a pro se case you WILL fuck it up. Don't let the means test thing scare you - you can qualify even if the first test shows your income is too high.

Nearly all bankruptcy attorneys offer a free consult. Here in north Texas fees run $1500 to $2500, with court costs and fees an additional $375.

Btw, if someone offers a fee too good to be true, it is. We've had some newer attorneys lowball fees in order to get business, and they make major mistakes. (Want to turn property or money over to the court?) Find someone who has done it for awhile.

And if something feels shady to you (e.g. maxing out credit cards), it is called fraud. You can get your case kicked out and barred from future filing if it's bad enough.

If you're serious about this, look for a local attorney thru nacba.org. National Association of Consumer Bankruptcy Attorneys is a good organization.

>> No.171567

>>167453
>>167454
>>170155

This is a completely unreasonable emotional reaction. If OP declares bankruptcy you have absolutely no reason to be upset. It doesn't affect your life in the slightest.

Don't even come back at me saying that it does because it just doesn't.