How are people able to get 6-figure incomes & file Ch. 7?

[debtmonster]

Yeah, tell that to everybody in America filing for bankruptcy. Obviously you did not fully read or understand the context of my post or that of others. FYI, I don't live in San Francisco. In fact, I live in a place here in Northern California where a $60K salary is comparable to a $100K salary in SF (and it's less than 90 mins from SF). My bankruptcy decision stemmed from medical bills, prior job loss and a house that's over 150K upside down.


You shouldn't come into a BK forum throwning stones when you also live in the same glass house.

When one has nothing to lose, they can feel free to throw all the stones they want.

People should not be living in SF. It's too expensive there if you're not making $150-200k. Anyone who earns less than $100k should relocate and find another job.

[Overmylimit]

I had a feeling at some point this thread was going to start creating friction. Just the name of the thread "How are people able to get 6-figure incomes & file Ch.7?" kind of says it all.....I can see what this argument/discussion really is, people with less income look at high income earners and say why can't they do better with their money since they make so much? How could they let this happen when they had the means to take care of their bills?

None of us wants to be in/going into BK and every situation is different. Sure I had high income but I am human just like the rest here, and we ALL make mistakes.

As for the housing its a free country so if some want to live where its way overpriced then so be it, if you want to live where its dirt cheap more power to you. There is no set right or wrong.




Doc: "What do you want?"
Wyatt: "Just to live a normal life."
"There's no normal life, Wyatt. There's just life. Now get on with it."

Tombstone 1993

[debtmonster]

Yep... before this ends up being bad, this thread should be closed immediately.

Can a moderator do this now?

[Doghouse]

People should not be living in SF. It's too expensive there if you're not making $150-200k. Anyone who earns less than $100k should relocate and find another job.

People should just relocate and find another job? In a perfect world, yes. In the real world, good luck. Especially more so in the current economic climate where even people with years of experience in their respective fields are still finding themselves on the unemployment line.

BTW, I'll give you one reason why so many people are able to live in SF besides living 6 to an apt as do many 20-something year olds. RENT CONTROL. One of the strictest in the country. When I lived there 7 years ago, I paid 1500/mth for a one bed apt (avg was 2100 at that time). My neighbor who was a 20 year resident of same apt .... paid 350/mth.

Usually, the population of SF increases to about 2 million on a given workday as most people commute in to work but don't live there.

[Chrisi18]

I just want to say that I think you are very rude to be sitting here preaching to people about swallowing their pride and just packing up and leaving. Remember when your wife just HAD to have and keep that BMW?????

[BKOnce]

1. Most high-income jobs are concentrated in metropolitan, hi-rise, or populous/crowded city areas.... also near city downtown/county government centers (like legal/lawyer/business services), or University/Research/Lab centers (hi-tech/engineer/professors, tech consultants, etc.), or clinic/hospitals (medical researchs, doctors, surgeons, etc), or downtown banking/mortgage/financial/business centers (MBAs, bank/company/corporate executives, etc.).. salary range from $70-100K to $500K plus.. and may up to millions/year for CEOs, board chairman, etc.


2. Most low-income jobs come from remote/isolate/mountain or subburban/country areas (i.e., growing farmers, dairy/animal farms, hard-equipment labor jobs, mine coal/oil operations, grocery, cashiers, truck delivery routes, manufacturing/product assembly line, meat/saugage producing plants, steel/oil production plants, etc...)... salary range from lower $15-30K (for labor positions) to upper 60-70K (for supervisor/manager position) maybe???


Now decide which job do you want above, which life do you want to lead, which profession do you prefer, and where the hell do want to live..., then take your pick, either you like it or not.. & don't take it for granted From God above either... LOL

[Cali]

debtmonster - You remind of a few people I have encountered in my life, the jealous types. If you would take all your energy to find a good job, you wouldn't have time to worry about what I spend or don't spend.

So how can you afford that BMW again?

[debtmonster]

debtmonster - You remind of a few people I have encountered in my life, the jealous types. If you would take all your energy to find a good job, you wouldn't have time to worry about what I spend or don't spend.

So how can you afford that BMW again?

I can't and that's why I'm giving it back. And if I lived in the city with higher expenses, I'd afford it even less than I do now. That's why I left the city.

I can't get a job anywhere, so it doesn't matter where I live or what I can afford.

I have to relocate 130+ miles in any direction to find another job.

The one comment about Florida not having good jobs was dead on the money. This place SUCKS. I only stayed here because of relatives. That's why I told that other guy to leave. I'd be better off in the burbs of Chicago.

[Cali]

So why do you tell others to relocate yet you stay there where it is cheaper to live and you still can't make it?

I can't and that's why I'm giving it back. And if I lived in the city with higher expenses, I'd afford it even less than I do now. That's why I left the city.

I can't get a job anywhere, so it doesn't matter where I live or what I can afford.

I have to relocate 130+ miles in any direction to find another job.

The one comment about Florida not having good jobs was dead on the money. This place SUCKS. I only stayed here because of relatives. That's why I told that other guy to leave. I'd be better off in the burbs of Chicago.

[debtmonster]

So why do you tell others to relocate yet you stay there where it is cheaper to live and you still can't make it?

I went too far. I was planning on not needing a job at all since I work from home. I had no idea back in 2005 that the entire economy was going to turn into a Depression and get near 7.5% unemployment. If I knew that, I would have stayed renting a room and never bought a home.

I just think it's insane for people to pay $700,000+ for a home unless you make like $1,000,000+ per year. I wish people would not all cram into California. I don't recommend Florida either. But there's a lot of other great states to live in. If I could convince my wife, I'd be out of here in a flash.

[Cali]

The houses where I live start at 1 mil.

There are many states that are not so expensive, but you have to be able to relocate, want to relocate, and have a guaranteed job.
I like living here, the schools are some of the best in the Nation and there is no reason for us to move.

I went too far. I was planning on not needing a job at all since I work from home. I had no idea back in 2005 that the entire economy was going to turn into a Depression and get near 7.5% unemployment. If I knew that, I would have stayed renting a room and never bought a home.

I just think it's insane for people to pay $700,000+ for a home unless you make like $1,000,000+ per year. I wish people would not all cram into California. I don't recommend Florida either. But there's a lot of other great states to live in. If I could convince my wife, I'd be out of here in a flash.

[HHM]

Ok, probably should have stopped this thread on the last page.

[debtmonster]

Ok, probably should have stopped this thread on the last page.

How can I stop it?

[Cali]

I am going to bow out of this thread because it is starting to irk me.

Ok, probably should have stopped this thread on the last page.

[debtmonster]

I am going to bow out of this thread because it is starting to irk me.

No problem. How can we stop people from posting? Is there an option where I can close it? On forums of the past, I always saw where the original person who started the thread could lock it. How can I do that on here?