Interesting article in Sunday's LATimes regarding the overblown threat of home owners walking away from their homes when they are still able to pay their mortgages, as a financial strategy.
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Last edited by LadyInTheRed; 02-26-2012, 04:45 PM. Reason: This belongs in the news forum and must be properly formatted for that forum.Chap 7 Non-consumer
--Realized headed for bankruptcy Nov 2010 --Started planning BK7 Spring 2011 -- Filed Sept 2011 -- 341 & Continued 341 Meetings Nov 2011 --No Asset Case Nov 2011 --Discharged Jan 2012 --Closed Feb 2012
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It really is a good read.
Last edited by LadyInTheRed; 02-26-2012, 04:46 PM.~~ Filed Over Median Income Chapter 7: 12/17/2010 ~~ 341 Held: 1/12/2011 ~~ Discharged: 03/16/2011 ~~Not an attorney - just an opinionated woman. -
Good article, I have believed for a long time that there are certain things the government will have us believe to keep us in line. This being most things big business (oil, drug, hospitals, banks) have threatened or convinced (or both) the government that we cannot live without or TBTF mentality. Big business companies have been filing BK for years and have made it the norm and quite accepted in their world. It their way to dump the bad and keep going, new name (and sometimes same name) and we are good to go.
Its the smoke and mirrors they play, well maybe its our turn to make financial decisions that make sense for our families.Comment
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nohoneymoney, this should be posted in the news forum. I would move it there, but it does not follow the guidelines for posting news. Please review the guidelines and post the article there.
Thank you.LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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