Has anyone ever filed for bankruptcy or used a debt consolidation company?

[Fallsview]

Bankruptcy is a horrible stain.  Avoid it at all costs.

Yeah, tell that to Donald Trump....and a few thousand rich businessmen.

[Coach is Back!]

Yeah, tell that to Donald Trump....and a few thousand rich businessmen.

In their case, BK is usually included in the original business plan.

[BayGBM]

Yeah, tell that to Donald Trump....and a few thousand rich businessmen.

There is BK for the rich and BK for the poor.  Big difference.  You know that.  Obviously, its not much of a stain if you have several million $$ in the bank.  I hardly think the OP is in that situation. 

[Fallsview]

There is BK for the rich and BK for the poor.  Big difference.  You know that.  Obviously, its not much of a stain if you have several million $$ in the bank.  I hardly think the OP is in that situation. 

Well, of course but making a blanket statement that its a stain is also incorrect. 

[Fallsview]

This is why one should take as many credit cards out and pay for college with them.  Then, declare bankruptcy and have no student loans. 

[BayGBM]

Well, of course but making a blanket statement that its a stain is also incorrect. 

Quite obviously, it was a statement made to the OP.  Why are you picking a fight with me? Don't make me crush you with my bicep!

[Fallsview]

Quite obviously, it was a statement made to the OP.  Why are you picking a fight with me? Don't make me crush you with my bicep!

LOL, not picking a fight Bay...Just a gloomy day here...

[BayGBM]

LOL, not picking a fight Bay...Just a gloomy day here...

When "Donald Trump....and a few thousand rich businessmen" start to post here, I will be sure that my responses encompass their situations as well.  Until then, I will limit my response to the profiles of the average getbigger. 

[Bam-bam]

what bay is trying to say here is that there are always other routes one can go first before filling bankruptcy, like G4P for example. Remember your ass can be an asset too.

[BayGBM]

what bay is trying to say here is that there are always other routes one can go first before filling bankruptcy, like G4P for example. Remember your ass can be an asset too.

Assuming one has an ass or body worth paying for.  Alas, not everyone can be a tier 1 or tier 2.

Seriously, what I am advocating is personal responsibility.  If you borrow something you give it back; if you generate a debt you pay it back.  It is no more complicated than that.  In one form or another a bankruptcy will haunt you for the rest of your life.  Despite what you may have read a BK  does not “disappear” after seven years.  It will also cost you more in services you don’t even think about such car insurance.  If you have a BK in your past you will pay higher car insurance rates—forever.  And that is just one example.

There are times when a BK may be the best option--such as a catastrophic illness—but declaring BK because you ran up debt for girls, boys, and other toys is something you will pay for . . . for a very long time.  More to the point, many people who declare BK end up in dire financial straights again down the road.  Of course, no one who declares BK thinks that is ever going to be them… but surprise!  The lack of personal responsibility that got you into trouble in the first place didn’t disappear when you declared BK.  And do not chalk it up to bad luck.  Thousands of immigrants come to the USA every year with nothing more than the clothes on their backs and not even speaking English; they manage to make a success of themselves, yet they were born into far worse circumstances than most Americans.  Why are they so successful?  It is because they have a work ethic and an impulse to sacrifice that most Americans will never understand.

 
For the newbies . . . here is a classic piece of getbig history
Methyl Mike aka GroinkTropin
http://www.getbig.com/boards/index.php?topic=309532.0

[reppingfor20]

If you are legitimately going through hardship like 10 of thousands others, tell the banks to fuck off and anyone else harassing you. They will also have the lawyers call you separately, don't take their threats so seriously, they can't do shit all. Look at your house and car deeds, if any move them over. They will come after anything under your name or associated with it. Yes, you can protect your assets in a bk proceeding. Don't pay them 100% or even negotiate for 20% (your credit rating is fucked either way). When the collections agencies start calling do the same, tell them to shove it.

Remember the banksters during the 2008 financial crisis, how they screwed million of people over?
They take money at .25% interest rate from the federal reserve and screw the consumer at 20% interest rates. There are over 1000 financial institutions that failed since 2008. Bend them over, and do the same. The banks know there is risk involved and something could come up when you both signed a contract for the loan. That is the cost of doing business. Banks borrow billions and fail to pay their obligations all the time.

So tell the creditors to fuck off and just file Chapter 11. Later on while you go through it, you will find ways of building your credit again. Only spend what you put in cash on the credit cards.

Don't go with the high moral ground cookie cutter bullshit offered here and elsewhere.

good post, and no one should be scared to be labeled a dead beat if you don't pay back the banks LOL!!!  A label means nothing, it is just a word, ignore and keep giving the banks and financial industry the finger.

[reppingfor20]

Even if you file bankruptcy, you still make an effort to repay your debts when you get back on your feet. It's not an invitation to blow off the debt you created. But I guess losing face and trust with friends means nothing.

it's called chapter 11, not chapter 7 bro, don't file for chapter 7 ever!

[reppingfor20]

This is why one should take as many credit cards out and pay for college with them.  Then, declare bankruptcy and have no student loans. 

good post!

[Coach is Back!]

Lots of dishonest people in this thread and its the usual suspects. The ones who think they're entitled to get shit for free when they can't even afford it in the first place. Yes, you're deadbeats!

[JOCKTHEGLIDE]

always pay back debts,,,,,back in 90s when I was on stage at mr olympica placing top 3,,,I had big debt too, but I ay them back  AT ALL COSTS!!!!!

DONT BE DEAD BEAT FELLA WHO NOT PAY BACK WHAT YOU OWE I OWED 500K,,,,TO A ENTITIY,,,AND I PAY BACK WITH NONEST MONEY LIVING AS BODYBUILDER AND PROFFESSIONAL,,,
MOST BODYBUILDER NOT PAY BACK DEBT,,,im rare and few who do it,,,im not FLEX WHEELER,,,,WHO NOT PAY BACK,,,,my credit score is 840 right now,,very top notch,,,very few acheive,,

gh15 approved

[hench]

well done you 

always pay back debts,,,,,back in 90s when I was on stage at mr olympica placing top 3,,,I had big debt too, but I ay them back  AT ALL COSTS!!!!!

DONT BE DEAD BEAT FELLA WHO NOT PAY BACK WHAT YOU OWE I OWED 500K,,,,TO A ENTITIY,,,AND I PAY BACK WITH NONEST MONEY LIVING AS BODYBUILDER AND PROFFESSIONAL,,,
MOST BODYBUILDER NOT PAY BACK DEBT,,,im rare and few who do it,,,im not FLEX WHEELER,,,,WHO NOT PAY BACK,,,,my credit score is 840 right now,,very top notch,,,very few acheive,,

gh15 approved