2006-07-20 09:46:59 · 9 answers · asked by Roz 4 in Business & Finance ➔ Credit
poor money managers
2006-07-20 09:49:48 · answer #1 · answered by parshooter 5 · 0⤊ 1⤋
I understand all too well that not all are poor money managers. When I was 23 I bought my first house with the premise that my family would help me pay the mortgage, since they would be living there too. I had great credit prior to that purchase and everything went down hill from there.
I filed for bankruptcy (13 and 7) and after three years I wrote my credit union a letter explaining the circumstances behind my fall and asked them for a loan of $1,000 to help me reestablish my credit. I told them that I didn't need the money, because I had the money in my account and I had just purchased my first computer in CASH. They came back with an offer of $500.00, which I quickly paid off. And then I applied for a credit and got it. Then I applied for a car loan and got it. All of these things have been paid off, that was 18 years ago and I'm in my second house and been there for 10 years.
So some people just have bad things happen to them at that time in their lives.
2006-07-20 16:54:47 · answer #2 · answered by Dancer3d 4 · 0⤊ 0⤋
None whatsoever. Some bankruptcy filings border on fraud, others have a genuine tragedy (serious illness or long-term unemployment) behind them. Without knowing all relevant facts, it's impossible to form an opinion. And in vast majority of cases, you cannot know all relevant facts, unless you are the judge that presides over the bankruptcy in question.
2006-07-20 17:11:32 · answer #3 · answered by NC 7 · 0⤊ 0⤋
Personally, I could care less. Everyone has different circumstances.
I recently found out that a close friend filed for bankruptcy a few years ago. I was pretty impressed that she had over $40,000 in credit card debt removed at the drop of a gavel. She (and her husband) still bought a house, and several cars afterwards. They had higher interest rates, but they refinanced everything.
2006-07-20 20:28:55 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I think that in a lot of cases there are extenuating circumstances that aren't readily apparent. I've never filed for bankruptcy, but I know someone who had to as a result of a business partner who embezzeled more than $500,000 and disappeared. By the time he resurfaced (amazingly, to ask this person to go into business with him again - really, who is that stupid??) it had been way too long to do anything about it legally.
2006-07-21 19:43:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Sometimes people lose jobs, have medical bills they never expected, etc. That doesn't make them bad people. Filing for bankruptcy is not easy any more. If it's done just to try to get out of paying the very people who extended credit to you, they you're
trash.
2006-07-20 16:52:58 · answer #6 · answered by goldielocks123 4 · 0⤊ 0⤋
well don't do it unless you have lots of bills i did it for 50,000 and found out latter that you can do it for a million so start running up some bills if your going to do it you can only do it two times in your life so think about it hard
2006-07-20 16:51:40 · answer #7 · answered by JOHNBOY 2 · 0⤊ 0⤋
I try to never judge a book by its cover.
2006-07-20 16:54:57 · answer #8 · answered by sugar-n-spice 2 · 0⤊ 0⤋
It's really none of anyone's business.
2006-07-20 20:15:26 · answer #9 · answered by Mrs.S 2 · 0⤊ 1⤋