[Nathan]

At what point do you think it is ethical to pursue a bankruptcy?

[seeemilywrite]

When there isno way you can possibly pay your bills at any point in the forseeable future and you have made every effort to do so through employment etc. When trying to pay your bills is causing you to not have aplce to live, be able to feed your kids etc

[beth]

I guess a bankrupcy is ethical whenever a person finds themselves unable to meet their debts, yet they have not been reckless in their dealings , or dishonest. People make mistakes, and sometimes terrible things happen. Probably one bankrupcy per lifetime is enough though, or something is terribly wrong.

[dpenna]

Deleted.

[BonnieSayers]

I filed bankruptcy in August of 2004 and it was charged off in Dec of 2004. A credit card from 15 years ago was trying to get my kids SSI money through the bank and I had no other way to stop it from happening as they had a judgement.

It was the best thing I ever did to eliminate that debt - almost $25,000 and it was before the laws changed, but that would not have affected my case. It was chapter 7. I was not aware of the amount of mail it would generate and still once a week at least I get letters from car dealers trying to get me to do a loan with them for a car. I was getting about 5 a day for months.

I did get a credit card a few months ago and not one I had to pay a fee for or have a bank acct for, so I was happy with that. Now I use the pay day loan places when I am in a bind, like when car gets fixed and no money for food, etc.

Bonnie Sayers
http://autismspectrumdisorders.bellaonline.com
http://www.epinions.com/user-bonniesayers