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Is Bankruptcy A Quick Fix?

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  • 03-29-2008, 01:54 AM
    katypillar
    Is Bankruptcy A Quick Fix?
    Quick question -- I have a friend who is attempting to file chapter 13 (for the second time in 8 years). She did not learn anything the first time and has pretty much accumulated about $60,000. She owes half of that to a family friend. Her bankruptcy lawyer told her to stop paying for certain bills, to use her joint account she has with her boyfriend to pay for hair/nails/entertainment and the monthly family friend payment. She feels she makes too little ($36,000) and owes too much. It sickens me to think that this will just disappear. I can understand if she had experience extensive medical bills, undergone financial hardships, etc. Get a second or third job!! Explore any and all avenues before bankruptcy! I just hate seeing someone be able to get a "quick fix" while hard working people have to suffer the price (literally) with increased prices at stores, etc.

    Is there anything I can do or give to the courts when her case approaches? She absolutely will learn nothing from this! Will the courts automatically wipe away the debt without recourse?

    Thanks!
  • 03-29-2008, 06:51 AM
    gigirle
    Re: Bankruptcy A Quick Fix??
    There is no telling what the court may or may not do. It is however likely that the debt will be wiped clean and she will have a repayment plan. Her attorney told her to stop making payments bc it's illegal for her to do this. She can't pay (favor) one creditor over another.

    The people who she lists as creditors in her bk will get served. They have an opportunity to fight or state their case in court. If you are one of the creditors she owes and she lists you in her bk, then you should go and state your case. If she owes someone that is not listed in the bk and it is then discharged, they need to file a lawsuit against her to get a judgement for the monies owed. Collecting on it is a whole different matter and maybe difficult to do.
    IMHO, the family friend is on the hook here. As long as someone is willing to give her money, she will continue to be a leach. The desire to get a second or third job comes from going without which she apparently isn't doing.
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