can a person continuously file for bankrupcy and never pay a single bill?
2006-12-07 18:42:28 · 5 answers · asked by chapped lips 5 in Business & Finance ➔ Personal Finance
You people smoke crack.
You will get credit again. You can usually get a credit card right away.
If you file a chapter 7 you don't have to pay anything. If you file a chapter 13 you pay off your debts over a period of time.
Who pays the remainder of the bills. If a 7 no one, if 13 you. You are usually limited to filing every so many years, like every 7 years I think for a 7 and not sure about a 13.
The number one cause of bankruptcy is medical bills, then next credit card bills. Remember, the credit card companies pay hardly any interest yet jack you hard on what you pay them. Don't feel sorry for them. I don't
2006-12-07 19:20:16 · answer #1 · answered by Just trying to help 3 · 0⤊ 1⤋
You and I and the rest of the public pay off their debt via higher merchandise prices or higher credit card interest, etc.
No, I don't think people can continuously file for bankruptcy. The laws recently changes, I believe. I think it varies from state to state.
2006-12-08 02:48:26 · answer #2 · answered by PT C 2 · 0⤊ 0⤋
Credit card companies charge high rates (20%+) to absorb the cost of a client filing for bankruptcy.
2006-12-08 05:16:36 · answer #3 · answered by antsam999 4 · 0⤊ 0⤋
The mean old bank writes it off. (Why do so many people hate banks?)
The banks forecast that they'll have to write off a few of these debts, but these charges eventually get passed through to the consumer.
2006-12-08 14:01:38 · answer #4 · answered by derek 4 · 0⤊ 0⤋
Once you file you wont get any credit
2006-12-08 02:52:12 · answer #5 · answered by robjoss 2 · 0⤊ 1⤋