Originally Posted by Checkerboard Strangler
Rick, I cannot really say that you contradicted yourself between sentences three and four but at the very least you illustrated the precise reason WHY the worst isn't actually over.
It's still possible to declare chapter 7 bankruptcy - but it's much more difficult. The 2005 laws were written which basically puts most consumers into chapter 13 where said "bankruptcy" is really a slow-pay debt payoff - which essentially you're paying the debt off at pennies on the dollar - but no complete charge-off's like in chapter 7 anymore for most consumers.


Contrarian, extraordinaire