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So Barb, there's no personal bankruptcy in Canada?

Perhaps there's not as much need, because here in the States, the largest percentage of bankruptcies are due to medical bills. Someone has a catastrophic illness, and either doesn't have insurance or their insurance policy copayments are so high that it ruins them financially.

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Ellie: many people do it just to get out of debt. Of course there is personal bankruptcy in Canada but the number does not compare. My point is about the reason to do it
Barb

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Multi-billion dollar corporations do it all the time in this country...strictly to get out of debt. IF they are allowed to do it...then individuals should be allowed to do it too.
I'm not saying it's a good thing...it's certainly abused by both corporations and individuals.
But to gag at knats and swallow camels...that's not right either.
If we're gonna disallow individuals from doing it...then billion dollar corporations should FIRST be disallowed from doing it.


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Bankruptcy here isn't as easy as it once was. The majority of them no long wipe out debt, they just reorganize it into a more manageable level with payments governed by the courts.

My mom would have been completely destitute and not have been able to have dialysis if it weren't for the American Kidney Foundation. They paid over $30,000 per month for the portion of her dialysis treatments that Medicare and her supplemental insurance didn't cover. The majority of people here don't have that option though.

CTH, what type of bankruptcy are you doing?


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Didn't mean to ruffle any feathers or start an international controversy. I just think it is too easy to do and too often abused. By individuals and corporations. I think that - just like getting credit cards - it is easy to do but causes many more problems than it solves.

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Chapter 7.

Originally, Barb challenged me to get a second job.

Let's see. I have my full-time job.

I write blog posts for my sister.

I run the scoreboard in the winter for a high school.

I used to -- there's an issue this year -- to work eight weekends a summer at running races.

The running race gig is in peril so today I've been calling around to see if I could umpire little league games. Doing the math, I need an extra $400 to $600 over the summer to bridge the gap until the high school scorekeeping starts again in the fall.

I don't think lack of effort is the issue.

Look, I write about personal finance and bankruptcy so this is a huge embarrassment. It's going to follow me forever. I wouldn't have done it if there was any other way to climb out before the girls are off to college.

I track everything and there was no way. My XW makes $10k more a year than I do and now I give her an additional $11k. It's frustrating that the debt she ran up sank me. I'm trying not to dwell.

And Barb now that I've made the decision, if it upsets you that I plan to put money away towards my girls' college education and take them on vacation, I can't help that and I won't apologize.

Your kids are only kids once and my XW chose to take half their childhood from me. I wasn't going to eat ramen noodles for 10 years and sit home every summer because of debt she compiled.

I did not write off my car loan or legal bills even though I could have. Those were my debts. I wrote off the ones she ran up and stuck me with.

The main problem with bankruptcy is that people don't change their habits after they file. They just continue to wrack up debt again.

That's not the case with me. I hate debt and borrowing. I married someone who has to have things now and I caved the last three years we were married hoping she'd snap out of her funk.

I don't plan on ever having a car payment again. I don't plan on paying a cent of credit card interest again. I need a new couch and computer. I'll buy them after I've saved enough to pay cash.

The accident settlement will be divvied up into the various savings funds, college accounts and quite a bit set aside for emergencies.

It's a done issue anyway. Filed and finished.


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Sounds like a good plan CTH. Living with debt is painful and not something I would wish on anyone.

I have debt. It pains me greatly. I barely can make the minimum payments and some months I make choices between that or putting food on the table. Considering I have a teenage boy to feed, you know what wins! smile


T19 M15 S19 XH47 M43
bomb12/4/07
PA5/07
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D final 11/17/08
Back together with no defined R 05/2010
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Meeting Monday about little league umpiring.

Fired off my now annual email about summer break for the girls.

There's 11 weeks this year because we had no snow days. I'm off 3 1/2. XW is off 2. D13 is going to go to one overnight camp and another theater camp. D9 wants to go to three camps.

That means there are 3 1/2 open weeks for D13 and 2 1/2 weeks for D9. D13 keeps saying she'll be fine sitting home by herself. I think it's lazy parenting to do that. Plus, she's 13, boy issues have been paramount and I just don't like leaving her alone that much. There are several friends that have their kids home during the summer that we could approach about having her stay there.

This sparks an annual argument. So we'll see how that goes over.

Both of our sets of parents had stay at home moms so we could go anywhere and do anything, but the parents were home.


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I am curious as to how the accident settlement isn't going to be taken when you file bankruptcy. I hated to do it and if ex could have seen the writing on the wall instead of being in his MLC fog, it may have been avoided. It wasn't so I can't go back.

All of my money accept for the $100 they allow you to have was in my Retirement accounts which they can't touch. They will see your settlement even if it hasn't been paid to you yet.

So you have filed already for bankruptcy? Has it been settled yet? Just curious. I know I filed mine in April, went to court in May and it was cleared in July. This was all in 2009. So I got to go through 2 years of Hades dealing with the divorce and then the bankruptcy. Cash for clunkers came out shortly after my Bankruptcy was cleared. I had saved like crazy and my dad co-signed for my new car. I am ahead on payments and that and my house payment have gotten me back into an excellent credit rating.

I am a work in progress. kat


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The lazy parent comment got me! I work full time, my boys work part time and I do arrange things for my girls to do with my parents every now and then. I can't afford to take all summer off though I would love to. Just realize that not everyone has your flexablity in scheduling. Rant over.

kat


Me-53(and learning!)
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Just keep swimming, Just keep swimming. Dory
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