[lbo-talk] bankruptcy

Charles Brown cbrown at michiganlegal.org
Fri Mar 11 12:01:46 PST 2005


This law is another step into US social fascism. What next ? Debtors' prison ?

Charles

Doug Henwood 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, absolutel



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