Comments on: Shhhh… It’s Really a Bankruptcy… Misleading Sales Pitches Gain Traction in a Weak Economy

By: Monica - Current account

Monica - Current account — Fri, 23 Jan 2009 12:02:06 +0000

@ Jay mills ;Well, it’s simple, in order to file for bankruptcy you MUST deal with a trustee. If a lawyer has told you that they can handle your bankruptcy for you they have misrepresented themselves. Lawyers may not file or administer bankruptcies in part of the world.

The reason for this is because when you hire a lawyer they represent you (to the best of their ability). A trustee does not represent you, trustee’s have a responsbilility to you, to your creditors, to the Court and to the insolvency system.

Think of your trustee as an impartial referee – a lawyer is more like a coach.

Thin about this before filing for bankruptcy.

By: Carson Brackney

Carson Brackney — Wed, 03 Dec 2008 03:26:33 +0000

I’m not discounting bankruptcy in all cases. I do, however, believe that people should be fully informed of its consequences by those who’d like their “business”.

I think it’s sleazy for people to pitch bankruptcy advocacy/preparation without letting people know that’s what’s really happening.

I’d like to think that’s something that everyone (regardless of their feelings about bankruptcy) would support.

By: jay mills

jay mills — Tue, 02 Dec 2008 20:22:16 +0000

After 10 years of marriage, my wife and I concluded that we spent according to where we thought we would be financially vs. where we were at financially when we were pulling out our checkbooks. Needless to say, we went off the cliff over the summer and were in deep enough to have had to spend the next 5-6 years digging ourselves out. (Which would have also included selling our house eventually.) We saw the writing on the wall, and filed for bankruptcy. The process is nearly finished and it was the smartest financial move we could have made. Dollars immediantly began piling up in our bank accounts again. So what if our credit rating is junk for 10 years. They only thing our 700+ scores ever got us was deeper in debt. We sat down and estimated that within 14 months, the balance of our “resurrected” bank accounts will actually exceed the amounts of available credit we had on all of our credit cards. We are renting a house now and after skipping 3 $1,750 house payments, we had no problem coming up with the money we needed to relocate. Don’t count out bankruptcy. It gave us our lives back. We couldn’t be happier with our decision. Sure, we’ll have to jump through some hoops over the next 10 years but it was worth it.