Ok my wifes parents are have just "filed" bankruptcy because they are irresponable and buy stuff for thereselves and pay bills if anything is left. Anyway I thought losing there house would wake
them up.It has been 3 months now since they filed and they havent even got a court date yet let own went yet and they are even blowing more money now instead of saving anything.We have now came to realize they are not going to change
My question is what happens if after they go to court and complete all this they rack up credit cards and debt again?
I know they cant file bankruptcy again for like 7 years.
So what happens if they cant pay again?
Someone told me they go to jail,but I dont think thats the case.
Would they just garnish all there wages and not even leave them enough to live? I have never heard of someone being broke again after filling.Someone help me out
2007-12-04 12:33:01 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
In the US, you can NEVER go to jail for owing money. You CAN face charges for fraud if you obtained credit under false pretenses.
You say you have never heard of someone being broke again after filling bankruptcy. That is strange. Bankruptcy itself rarely teaches anyone how to handle money.
2007-12-04 12:39:09 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
For Finance and credit solutions I always visit this website where you can find all the solutions. http://SMARTFINANCESOLUTIONS.NET/index.html?src=fmireHP16
RE :Whats happens after bankruptcy if you go broke again?
Ok my wifes parents are have just "filed" bankruptcy because they are irresponable and buy stuff for thereselves and pay bills if anything is left. Anyway I thought losing there house would wake
them up.It has been 3 months now since they filed and they havent even got a court date yet let own went yet and they are even blowing more money now instead of saving anything.We have now came to realize they are not going to change
My question is what happens if after they go to court and complete all this they rack up credit cards and debt again?
I know they cant file bankruptcy again for like 7 years.
So what happens if they cant pay again?
Someone told me they go to jail,but I dont think thats the case.
Would they just garnish all there wages and not even leave them enough to live? I have never heard of someone being broke again after filling.Someone help me out
Follow 4 answers
2016-10-04 14:14:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
At HTTP://HELP.MYLOANSRATES.NET you can find the best financial solutions
RE Whats happens after bankruptcy if you go broke again?
Ok my wifes parents are have just "filed" bankruptcy because they are irresponable and buy stuff for thereselves and pay bills if anything is left. Anyway I thought losing there house would wake
them up.It has been 3 months now since they filed and they havent even got a court date yet let own went yet and they are even blowing more money now instead of saving anything.We have now came to realize they are not going to change
My question is what happens if after they go to court and complete all this they rack up credit cards and debt again?
I know they cant file bankruptcy again for like 7 years.
So what happens if they cant pay again?
Someone told me they go to jail,but I dont think thats the case.
Would they just garnish all there wages and not even leave them enough to live? I have never heard of someone being broke again after filling.Someone help me out
2014-09-25 22:51:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Increasing number people are filing for bankruptcy to get out of debt. But, what is bankruptcy? Do you know enough of it? How does it help you? If these questions also bother you, the following article describing 7 most important things about bankruptcy will help you get an answer.
1. Bankruptcy is process adopted by federal court process catering to individuals and businesses repay their debts or clear their debts under the protection of bankruptcy court. Also known as "reorganizations " or "liquidations", bankruptcy is often the last recourse to get out of any debt.
2. When the property of the debtor is sold to recover and pay off the debt it is called Chapter 7 bankruptcy. Contrary to popular belief, all the property owned by a debtor is not sold, some part of it is left with him to allow him to start afresh.
3. When there is no sale of property but the debt are reorganized so as the debtors, are able to repay them over a long period it is called Chapter 13 bankruptcy.
4. Both these types of bankruptcy have a large number of rules, and exceptions, suited to different kind of debts, individuals and other concerns.
5. The "ticket in" is counseling session that everyone who wishes to file a bankruptcy must attend. This session must be attended at least six months prior to filing for bankruptcy. This term was adopted in the new bankruptcy law. Read more from: http://www.credit-card-gallery.com/article/226,7_most_important_things_about_bankruptcy
2007-12-04 21:25:14 · answer #4 · answered by kassy kemp 2 · 0⤊ 0⤋