[lbo-talk] bankruptcy

[Wojtek Sokolowski]

Doug:
> 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.

I wholeheartedly second.  The costs are minimal, speaking from experience.
And under no circumstances fall for "debt restructuring" schemes that some
"bankruptcy" services may push - because these are ploys devised by credit
card companies to prevent people from filing for bankruptcy.  

Wojtek