• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Bankruptcy(YALT)

Page 2 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.
busydude said:
Not so long ago.. Malak created a thread.. about his earnings. IIRC.. he made ~10K last year.
Click to expand...

Yep, less than 16k this year. I'd sue the company that fired me if I thought I'd get any money out of it, was illegal what they did.
 
LOL at guy above who filed two years ago and has since purchased two new 2010 cars. Logic fail. Best of luck on your 2012 bankruptcy goals.
 
MrChad said:
You were in a similar situation in 2005. What happened then?
Click to expand...

I got a pretty good job a couple months after that. Market impacts hit us on the west coast and lost that job, and the next, and it has been downhill since. Simply can't recover at this point, too far gone. Can only win the lottery if I play, so I got no backups.
 
Malak said:
boomhower said:
rbV5 said:
Good luck discharing your student debt.
Click to expand...
Yeah, your stuck with that.
Click to expand...
Hey, they either get rid of it, or I don't pay. Either way, I don't pay. I got no money!
Click to expand...

That debt will sit around your neck until you die.

Do not expect to see Federal tax refunds until paid off.
Once the student loans go into default; other sources of Federal money may also dry up.
 
EagleKeeper said:
That debt will sit around your neck until you die.

Do not expect to see Federal tax refunds until paid off.
Once the student loans go into default; other sources of Federal money may also dry up.
Click to expand...

Don't expect to see taxes paid then! I can play this game too! Plus, student loans go away with time anyway.
 
Malak said:
Don't expect to see taxes paid then! I can play this game too! Plus, student loans go away with time anyway.
Click to expand...

True, after 25 years on a repayment plan schedule or 10 years of full time employment in pubic service. Easy.
 
Malak said:
Don't expect to see taxes paid then! I can play this game too! Plus, student loans go away with time anyway.
Click to expand...

Dude, that debt ain't going away. You don't want to pay taxes, well, they'll just take it then. If you earn money, they'll take it. You're going to pay back that debt, whether you like it or not. The other stuff will most likely get dismissed. But your student loan, yeah, you'll pay for that one way or another.
 
Malak said:
EagleKeeper said:
Malak said:
boomhower said:
rbV5 said:
Good luck discharing your student debt.
Click to expand...
Yeah, your stuck with that.
Click to expand...
Hey, they either get rid of it, or I don't pay. Either way, I don't pay. I got no money!
Click to expand...
That debt will sit around your neck until you die.

Do not expect to see Federal tax refunds until paid off.
Once the student loans go into default; other sources of Federal money may also dry up.
Click to expand...

Don't expect to see taxes paid then! I can play this game too! Plus, student loans go away with time anyway.
Click to expand...

You do plan on working for a living?

Expect to have to change jobs every 6-12 months. Uncle will see the income coming in after a quarter has passed and your employer reports earnings to SS. Uncle will then setup a garnishment.

Up to you to file Federal and state taxes.
If you owe taxes; then that will just compound the issue by you not filing - no statue of limitations on that.

All your income will have to be under the table or unreported. Figure on living outside the country to earn a decent living

No tax refunds from Federal or state. Those will get grabbed.

Student loans will not go away if backed by the Feds.
 
Last edited:
jupiter57 said:
HAHA!
Contrary to what all these "Ballers" may say, I would put the average ATOTers monthly income at around $575.00 a month, including allowance and Student loans.
A lawyer would cost you more than that.
:biggrin:
Click to expand...

I don't see how anyone can survive on that in today's day and age. Mortgage, utilities, car, family expenses... It's not nearly possible.
 
Old Hippie said:
They'll wait for ya to get some. 🙂
Click to expand...

Ok, this is highly unethical and probably illegal, so I'm just throwing this out there as a "what if". That said, I wonder if it's possible to max out cash advances on your credit cards to pay off some or all of your student loans before declaring bankruptcy?
 
Golgatha said:
Ok, this is highly unethical and probably illegal, so I'm just throwing this out there as a "what if". That said, I wonder if it's possible to max out cash advances on your credit cards to pay off some or all of your student loans before declaring bankruptcy?
Click to expand...


If there is a obvious paper trail; the BK judge would not allow the CC debts to be cleared
 
edro said:
I have no experience in this, but I heard that credit companies look at all Chapters the same, so you might as well do the full blown Chapter 7.
If you are going to file, you might as well take a vacation first. 🙂
Click to expand...

Not at all and if you do make big expenses ahead of bankruptcy they can exclude those charges from it.

It's very hard to do a Chapter 7 with today's laws unless you have business debt.

With Chapter 13 they will set you up on painful payment plans.
 
Malak said:
Hey, they either get rid of it, or I don't pay. Either way, I don't pay. I got no money!
Click to expand...

Call your student loan servicer. You can get on a reduced payment plan or possibly get hardship case and put off payments for a little while. Student loans won't discharge in bankruptcy court. But they don't have to drag you down. You don't want to go into default on student loans.
 
jupiter57 said:
HAHA!
Contrary to what all these "Ballers" may say, I would put the average ATOTers monthly income at around $575.00 a month, including allowance and Student loans.
A lawyer would cost you more than that.
:biggrin:

OP, sorry I have no advice for you.
Click to expand...

$575 a month? seriously? I made over double that part-time 20+ years ago.
 
ThePresence said:
I don't see how anyone can survive on that in today's day and age. Mortgage, utilities, car, family expenses... It's not nearly possible.
Click to expand...

notnearlypossible.png
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top