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Visualizing When Bankruptcy Makes Cents
Over 1.2 million people filed for bankruptcy in 2012, more than double the lows of 600,000 in 2006 (and yet the stock market is at all-time highs?). The following infographic provides some clarfying data on the increasingly necessary option but it is the 'signs you are in danger of bankruptcy' section that enthralled us - and perhaps is worth a read by some on Capitol Hill.
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Libertads selling for 31. So much for the manipulated COMEX price.
http://www.ebay.com/itm/2013-Mexico-1-Troy-Oz-Silver-Libertad-Onza-999-F...
BTW, those coins could never be minted in the US or europe, since a pneumatic bare chested woman is a major sin in islamic nations.
Between Two Ferns?
@ Ahmeexnal - LOL I dont think either the US or Europe is an "Islamic" nation. If they were interest/usury would be banned...
How did 2011 have 4X filings of previous 30 years combined when 2005 had 2 million?
When you read the "Signs you are in danger of Bankruptcy" its like you are reading "The current status of USA"
The steel price per metric ton is $400. So if you buy a steel fork weighing an ounce, would you expect to pay more or less than 1 cent? Not a trick question.
If your credit card is blue, that's a good sign you are a candidate for bankruptcy.
I'll pay a little more. I don't wish to eat from a rusty fork.
BAPCPA pulled some filings forward and suppressed filing for a time after passage.
If memory serves me well, interest *has* been banned by the central banks. Go figure...
>> Libertads selling for 31.
You need to back about $4 out of that price for shipping, plus ebay and pay pal fees.
In a world where credit doesn't mean a fucking thing, bankrupcty makes all the cents in the world.
Lever up (buy lots of expensive shit) ----> declare bankruptcy ------> claim that your ass hurts from sitting too much and get subsidized by the gov.
'Murica
That's what I did, I purchased every "I" product so I could master bate anytime anywhere.
Score
$15,257.00 average cc debt per household. Holy shit that is insanity.
Whew! I thought my 11,000 CC debt was a problem, but now I see I'm relatively well off.
Think Ill go finance a new Wrangler Unlimited.
One couple i know had $165,000 in CC debt, filed and are paying about $110 per month for 5 years and then they are done. It did give them their lives back.
and in three years they will be back to a 750 credit score and can go $160k in debt again.
PARTY ON!!!!!!
'Merica ROCKS!!!!
There is no real penalty for being irresponsible. Oh no $150 a month for five years. WHAT ARE THEY GOING TO DO?
Don't forget. They are borrowing money that is CREATED OUT OF THIN AIR.
Who, exactly, is the irresponsible party?
Yes, the banks that created the money out of thin air gave them essentially nothing. The debt and money can come and go and no one suffers except the people who feel some obligation to banks... which is incredibly naive.
Exactly! I filed a chapter 7 after the bank wouldn't re negotiate my loan payments when I had to take a lower paying job, due to the boom
bust cycles THEY CREATE! So I said "fuck you" and went nuclear. Ya I destroyed my credit, but they're out $200k, and I can get my credit back.
It was actually the best thing I could have done. I learned to pay cash, bought alternative investments, and learned a lot about
how the system is corrupted to the core in order to keep you in debt and dependant. The real kicker was watching the
womans face in shock when she asked who filled out my forms?! "I did" I replied.. 'WHAT?! No lawyer? How'd you do that?!"
I said "A book, and the forms a freely available online." She said "Wwwwwhat?! So how did you fill them out?!" yes she asked the same
damn question! I replied "Again, I bought a book, read it, found the forms online and filled them out. I can provide the links if you'd like."
She was in such shock I went outside the system, I actually had an independent thought and action. Fucking sad!
Can you provide the links?
Who was their go to on their 165K?
Sign you are close to bankruptcy? You are a bank.
You are a government.
My back is to weak to carry my massive, proliferating debt; time to file for disability, baby!
businesses may have represented 3% of all filings, but for how much did they account in dollar volume? lehman, gm, peregrine, bear stearns, aig, mf global, and the solyndra, and the list goes on and on....how many personal bankruptcies are required to equal 1 solyndra......this farticle was a turd.
One major Ch 11 would cover all consumer bankruptcies I would imagine. Hell, fees for the DIP attys, creditors committee(s), financial advisors of DIP and Creditors Committee, etc might cover them. plus, after BAPCPA, you have to be one hopelessly broke motherfucker to file chapter 7 and get a clean slate.
Well... Maybe a handful of major corporate filings.
Perhaps congress could declare that posession is now 10/10 of the law, and that all contracts created before May 29, 2013 are null, and void?
From this info graph... Signs that you are in danger of bankruptcy -describes most people in the US.
Well, that pretty much describes America ... Home of the Brave and Land of the Bankrupt
What should i do,walk or negotiate? Im 23K in hole with no chance.Oh well,Thomas Paine was good for 3 passes.
All it takes is a job loss and some medical issues.
If only we can get Bernanke to testify that allowing individuals to file for bankruptcy would put us on the edge of the abyss and completely destroy individualism as we know it. Therefore, to save individuality, we must back stop all individuals with taxpayer funds. We will surely earn a handsome return.
Learn 2 sarcasm Bernanke.
Need to double check the stats I think. 4x the prior 30 years combined? In process.
*Yeah, no. http://www.uscourts.gov/Statistics/BankruptcyStatistics/12-month-period-ending-december.aspx
#1 is medical expenses.
#1 state is California and the ridiculous housing prices.
Anyone surprised by this?
No surprise to me that individuals are bankrupt, the government is bankrupt, and Wall Street and the elites are swimming in cash like Uncle Scrooge.
PONZI!
I recommend other strategies than bankruptcy, which is submission to the state in the hope of a largely illusory set of benefits.
http://www.amazon.com/gp/aw/d/1907498524
Battle is better, and can be profitable too.
But you can still qualify for a home and car loan!