Article in paper shows local realtor files bankruptcy, and I'm just sick
I'm sick because I've seen plenty of people here- myself included- that need a legitimate fresh start. That are being nickel and dimed. That aren't "claiming" zero income for the past 6 months, but listing $12k income $15K expenses on schedule J. (Yeah, I looked it up on Pacer because I could not believe the figures in the paper article were right). So this guy gets to keep several rental properties (oh- he's a no asset case...despite owning a home and rental properties) and his $12K a month income, discharges his millions in bad investment deals, without even a blink from the UST office. I. want. to. puke.
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Ch 13 filed 06/22/09. Dismissed,thankfully, 03/31/10. Ch 7 filed 06/28/10. 341 07/29/10. UST POA 08/06/10. UST mot to dismiss hearing extended to Dec...Feb...March...May...Aug. UST withdrawal of dismissal filed 05/31! DISCHARGED 07/12/2011! -
Is he a corporation? Because I am blown away how much corporations can use and abuse the bankruptcy system to get away with murder and then continue running their business as if nothing has happened, yet we go through major hurdles and get penalized for 7-10 years. A corporation doesn't run into the same problems as ordinary citizens do when we claim bankruptcy. BK haunts the hell out of us, yet corporations get rewarded with lower costs and higher profits.Originally posted by olivies View Post -
The realtor filed personal bankruptcy but was most likely a non-consumer chapter 7. I appreciate the double standard, but the policy behind it is that we want people to go into business and take risks. Bankruptcy provides the escape hatch for business failure.Comment
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