Why do people file bankruptcy and try to get something for nothing? If u sign you name to it u should pay?

Answer 1

I agree to a point. I do believe if you rack it up you should pay but if unforeseen things happen and you have to file bankruptcy once you get back on your feet you should have to begin a process to pay it all back. The debt shouldn't just disappear.

Answer 2

Bankruptcy is a way to give people a fresh start. If you feel yourself drowning and can't even pay your basic expenses much less your debt, it is a good way to get back on your feet. It often happens because people live beyond their means, but divorce and medical bills can cause hardships that are beyond one's control.

It is easy to think "oh that person is a deadbeat because they filed" and "I'd never file." Never say never. Many of my clients never wanted to file, but then their ARM mortgage payment went out of control, they had surgery while uninsured, they got divorced, etc. Sometimes it is a better option than trying to kill yourself to pay your creditors.

Even if you don't file, there are statutes of limitations on most debts (criminal restitution and in many states, child support are exceptions) and the debt will eventually go away on its own, but not until after being harrassed by a myriad of creditors.

Answer 3

Sometimes people do their best but have unexpected medical problems come up that cost huge amounts, or lose a job that looked secure, and end up not being able to pay their bills.

Others just see it as an easy way out - run up bills buying stuff they can't afford, and then file bankrupcy when it all catches up with them.

To summarize - some people deserve some help out of their problems, some don't.

Answer 4

I filed bankruptcy because I had no other choice! Some times you have to fold your hand and walk away.