Bankruptcy??

Parent Cafe
21

<p>berurah,</p>

<p>No need to feel sorry for the creditors. They don’t get hurt when someone goes BK and leaves them holding the bag. They do lose money, but they have reserves for that, and taking the risk of lending is a business decision for them.</p>

<p>That’s why I find the changes in the law so disappointing. It allows companies who laready made their bets, granted the credit, to increase their take by cutting their losses even more. And you won’t see any drop in interest rates to compensate for their reduced risk, I’m willing to bet.</p>

<p>Ah, it’s just our political system in action.</p>

22

<p>newmassdad~</p>

<p>I am actually in complete agreement with you! That I feel it is a misuse of the bankruptcy laws to “bail out” after years of financially irresponsible behavior does not mean that I sympathize with rip-off credit card companies whatsoever. I went off on a tangent, but the bottom line is that like you, I find the changes in the law disappointing as well. IMHO, it is the ones who are truly in need that will be hurt. The rest will find some avenue to scam their way out of trouble anyway <em>sigh</em>. ~b.</p>

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<p>I can see that you feel passionately about this Berurah, but as an aside, perhaps it is time to forgive your profligate former best friend. As I’m sure you know, the book which you prize so highly tells us that it may be appropriate to withhold forgiveness for a while to teach another not to take it lightly, but even if someone were to spread false rumors about us, in such a case one should still forgive.</p>

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<p>Well, mhc48, please “forgive” me, but I do not understand your above post at all:</p>

<p>1.) I’m not sure how you would know what book(s) I “prize so highly” since you do not know me at all.</p>

<p>2.) It is not my place to forgive or not forgive this woman. <em>I</em> was not the one wronged by her with regard to the bankruptcy. </p>

<p>3.) False rumors? This one escapes me totally and seems completely out of context, unless you are privy to something which I am not. </p>

<p>~berurah</p>

25

<p>Economists have estimated that HALF of all bankruptcies are the result of medical expenses. I know my husband’s chemo cost us $10,000 out of pocket (after reimbursement by the health insurance company). We were fortunate we could afford it. A friend has $25000 in outstanding medical bills–and an income of around $21000/year.</p>