[lbo-talk] bankruptcy

Doug Henwood dhenwood at panix.com
Thu Mar 10 09:20:47 PST 2005


With bankruptcy "reform" now certain of passage, I'm going to do what I never otherwise do: give financial advice.

If you've got a credit card problem (and live in the USA), think very seriously about filing - NOW.

Individual circs may vary, so consult a lawyer. But it's highly likely that if you're sweating to service your debts, "going chapter" (as an old Texan friend of mine says) may make your life a lot easier, and with fewer side-effects than you may fear.

Doug

PS: You can't discharge student loan, tax, or mortgage debt, so bankruptcy won't help you there. But credit cards, absolutely.



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