Reply #40: Not necessarily worse [View All]

[DaveJ]

If the bankruptcy erases a lot of other debts then keeping those debts would be worse. I know of people who bought a home 2 years after declaring chapter 7.

And yeah I must side with Sven because the banks are making out great. $68k in 6 years for, say, a $250k house is a pretty good RTA. Maybe not as much as banks are used to getting, since they are our overlords, but better than any of us peasants could dream of getting. I'm glad the government allows people to declare bankruptcy. It has saved the well-being of many good people.