[lbo-talk] Re: bankrurptcy for dummies?

frank scott frank at marin.cc.ca.us
Wed Jan 19 17:22:57 PST 2005


"...Why filing for bankruptcy if you do not have any assets to protect? That does not make any sense. You file only when you want to protect your house..."

home owners aren't the only ones who file for bankruptcy...nor business owners...people who own nothing but their "free" labor also file for bankruptcy...

the "asset" people try to protect is whatever money they have, or will or may earn in future, so that it doesn't go to creditors and put them on bread lines...

i speak from practical experience, which, we should all understand, is worth more than theoretical study alone...

fs



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