REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Vancouver LifeStyles (VLS) > The Business and Financial Forum

The Business and Financial Forum THIS SPACE OPEN FOR ADVERTISEMENT. YOU SHOULD BE ADVERTISING HERE!
Revscene Wall Street.
Consolidating debt? Good business tips? Buying stock? How's our economy doing? Discuss and share advice and tools on everyday banking, investing, wealth management and insurance.

Reply
 
Thread Tools
Old 07-30-2010, 11:11 PM   #1
Banned (ABWS)
 
Join Date: Apr 2008
Location: bc
Posts: 411
Thanked 32 Times in 22 Posts
Failed 607 Times in 60 Posts
bankruptcy for 30,000

would you guys file for bankruptcy if you had 30,000 of debt with no job nor any assets you own that can be taken away??
Advertisement
diesel_test is offline   Reply With Quote
This post FAILED by:
Old 07-30-2010, 11:43 PM   #2
I WANT MY 10 YEARS BACK FROM RS.net!
 
twitchyzero's Avatar
 
Join Date: Oct 2007
Location: Vancouver BC
Posts: 22,111
Thanked 9,871 Times in 3,926 Posts
Failed 881 Times in 421 Posts
i have no clue how old you are and where you are in life but:
stop gambling.
bankruptcy is hell that you have to live with for a very long time. Even if you become a very responsible individual years down the road your decision to delcare bankruptcy will come back and haunt you.
twitchyzero is offline   Reply With Quote
This post FAILED by:
Old 07-31-2010, 01:26 AM   #3
HELP ME PLS!!!
 
sexyaccord's Avatar
 
Join Date: Oct 2005
Location: Death Star
Posts: 5,707
Thanked 854 Times in 175 Posts
Failed 49 Times in 21 Posts
why don't you start working places mcdonalds?
gotta at least make 30k in 2 years full time
__________________
Last edited by sexyaccord on 69-69-6969 at 69:69 PM
sexyaccord is offline   Reply With Quote
Old 07-31-2010, 02:42 AM   #4
Rs has made me the man i am today!
 
snowball's Avatar
 
Join Date: Jan 2005
Location: North Vancouver
Posts: 3,012
Thanked 1,690 Times in 588 Posts
Failed 50 Times in 22 Posts
30k is nothing, you don't have any assets for them to seize but you'll never have anything in the near future if you declare bankruptcy
snowball is offline   Reply With Quote
This post FAILED by:
Old 07-31-2010, 08:57 AM   #5
I Will not Admit my Addiction to RS
 
Join Date: Feb 2004
Location: Burnaby
Posts: 577
Thanked 20 Times in 13 Posts
Failed 9 Times in 4 Posts
if this is the situation you are in the first thing you should do is speak to an actual advisor (google credit consuellor). asking revscene for help really isn't going to give you the objective advice you need at this point.
Bankruptcy is a very difficult situation to overcome. the cons are that you are deemed uncreditworthy for up to 7 years. and any creditor that had ever taken a loss from you will likely choose to never lend to you ever again. bankrupts are also considered of being without the capacity to enter contracts. meaning that there may be situations that you will require a lawyer signing off on any commitments you make during this period. Is 30,000 a lot of money to make ? No. Is 30,000 a lot to pay off ? Yes. Is 30,000 a lot to pay off with interest accumulating? YES. For those saying 30,000 isn't a lot, try saving 30,000. Even with steady income you will have other expenses that must be met, rent, food etc.

Where I suggest you start, get a credit counselling company involved. and make a proposal to your creditors. meaning they will act as your agent and attempt to cut you a deal ie 20,000 instead of 30,000. your creditors can potentially take this deal as they will see that the 30,000 is at risk. but be aware if any one of the creditors rejects this proposal you will be put into bankruptcy as a result.

My advice. Call the experts and get real advice.
woooo is offline   Reply With Quote
This post thanked by:
Old 07-31-2010, 10:50 AM   #6
Need my Daily Fix of RS
 
Join Date: Sep 2009
Location: vancouver, bc
Posts: 282
Thanked 130 Times in 34 Posts
Failed 174 Times in 24 Posts
I have a friend that went thru bankruptcy. She was in debt for $40k, and it was just getting bigger with all the interest. She was a full time student and has a part-time job, when and spoke to the credit counselor then conclude that it’s best to go thru bankruptcy. The process was pretty simple; she paid the bankruptcy lawyer $200 out front and $160 per month for the next 9 months. After she was discharged from bankruptcy she was debt free and the stress was gone. She applied for a $200 prepaid credit card to rebuild her credit. She now has to wait 7 years to be back at zero. But at least she is not stressing over money and she looks happier now.

Last edited by turb0fr3ak; 08-03-2010 at 01:45 AM.
turb0fr3ak is offline   Reply With Quote
Old 07-31-2010, 11:29 AM   #7
Banned (ABWS)
 
LG Hunter's Avatar
 
Join Date: Jun 2010
Location: vancouver
Posts: 349
Thanked 0 Times in 0 Posts
Failed 74 Times in 46 Posts
wow $200 out front for a $40 debt, seems harsh.
LG Hunter is offline   Reply With Quote
Old 07-31-2010, 12:21 PM   #8
RS.net Licensed Sponsor
 
Join Date: Jun 2006
Location: Vancouver
Posts: 2,808
Thanked 155 Times in 137 Posts
Failed 2 Times in 2 Posts
probably $40k
__________________
Overseas Auto

210 E 4th at Main
Vancouver BC V5T 1G5
Telephone - 604 879 6288
Email jim@overseas-auto.com
Toll Free - 1 800 665 5031


Text 604-836-7278

http://www.overseas-auto.com
http://www.piaalights.com
http://www.weberjets.com
http://www.brightsourcehid.com

MSN Messenger z5551212@hotmail.com

We take Interac, Cash, Visa, MC, Amex,

Open 8-5 Monday to Friday, 11-1 Saturday


We have been supplying quality accessories, parts, tires, wheels for 51 years.
Overseas Auto1 is offline   Reply With Quote
Old 07-31-2010, 12:29 PM   #9
I told him no, what y'all do?
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 10,163
Thanked 6,023 Times in 2,615 Posts
Failed 105 Times in 67 Posts
personally i would try to avoid bankrupcy b/c it's $ you owe and you're screwing someone over by not paying it, but things happen in life & sometimes you gotta do what you gotta do.

but like others said, speak to a credit counselor. i have a friend who's in the business & he tells me he helps ppl in your situation all the time.
__________________
Feedback
http://www.revscene.net/forums/showthread.php?t=611711

Quote:
Greenstoner
1 rat shit ruins the whole congee
originalhypa
You cannot live the life of a whore and expect a monument to your chastity
Quote:
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat

GLOW is offline   Reply With Quote
Old 07-31-2010, 12:32 PM   #10
Old School RS
 
lowside67's Avatar
 
Join Date: May 2004
Location: Port Moody
Posts: 4,599
Thanked 4,045 Times in 1,233 Posts
Failed 129 Times in 79 Posts
Quote:
Originally Posted by LG Hunter View Post
wow $200 out front for a $40 debt, seems harsh.
Please please PLEASE tell me that is sarcastic?
__________________
I'm old now - boring street cars and sweet race cars.
lowside67 is offline   Reply With Quote
Old 07-31-2010, 01:38 PM   #11
I told him no, what y'all do?
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 10,163
Thanked 6,023 Times in 2,615 Posts
Failed 105 Times in 67 Posts
Quote:
Originally Posted by lowside67 View Post
Please please PLEASE tell me that is sarcastic?
i just assumed it was a typo and he meant $40k
__________________
Feedback
http://www.revscene.net/forums/showthread.php?t=611711

Quote:
Greenstoner
1 rat shit ruins the whole congee
originalhypa
You cannot live the life of a whore and expect a monument to your chastity
Quote:
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat

GLOW is offline   Reply With Quote
Old 07-31-2010, 01:46 PM   #12
Old School RS
 
lowside67's Avatar
 
Join Date: May 2004
Location: Port Moody
Posts: 4,599
Thanked 4,045 Times in 1,233 Posts
Failed 129 Times in 79 Posts
Quote:
Originally Posted by GLOW View Post
i just assumed it was a typo and he meant $40k
$200 to erase a $40,000 debt is harsh?
__________________
I'm old now - boring street cars and sweet race cars.
lowside67 is offline   Reply With Quote
Old 07-31-2010, 02:27 PM   #13
I Will not Admit my Addiction to RS
 
Join Date: Feb 2004
Location: Burnaby
Posts: 577
Thanked 20 Times in 13 Posts
Failed 9 Times in 4 Posts
he meant $200 was the fee the credit counselling company charged for their services. They are generally non-profit organizations.

he also stated that it was a $40 debt that it all started with. so with additional debts + interest/ fees, who knows what the real amount of discharge was.
woooo is offline   Reply With Quote
Old 07-31-2010, 03:33 PM   #14
Banned (ABWS)
 
LG Hunter's Avatar
 
Join Date: Jun 2010
Location: vancouver
Posts: 349
Thanked 0 Times in 0 Posts
Failed 74 Times in 46 Posts
Quote:
Originally Posted by lowside67 View Post
$200 to erase a $40,000 debt is harsh?
learn to read
LG Hunter is offline   Reply With Quote
Old 07-31-2010, 04:42 PM   #15
I *heart* Revscene.net very Muchie
 
J____'s Avatar
 
Join Date: Dec 2007
Location: Shanghai
Posts: 3,561
Thanked 888 Times in 350 Posts
Failed 356 Times in 87 Posts
if you plan on leaving the country and never coming back, or never plan on loaning any money in the future from the bank, including mortgage, financing cars, leasing, etc, until you die. Then go for it. But if you do ever want to get a house.... you're going to screw urself.
__________________
yolo
J____ is offline   Reply With Quote
Old 07-31-2010, 04:46 PM   #16
Old School RS
 
lowside67's Avatar
 
Join Date: May 2004
Location: Port Moody
Posts: 4,599
Thanked 4,045 Times in 1,233 Posts
Failed 129 Times in 79 Posts
Quote:
Originally Posted by LG Hunter View Post
learn to read
Excuse me?

What part did I misread?

Perhaps you should learn to make your points a little more concisely. What you wrote could mean any one of three things depending on what part we assume you screwed up in your writing.

-Mark
__________________
I'm old now - boring street cars and sweet race cars.
lowside67 is offline   Reply With Quote
Old 07-31-2010, 05:27 PM   #17
Banned (ABWS)
 
LG Hunter's Avatar
 
Join Date: Jun 2010
Location: vancouver
Posts: 349
Thanked 0 Times in 0 Posts
Failed 74 Times in 46 Posts
Quote:
Originally Posted by lowside67 View Post
Excuse me?

What part did I misread?

Perhaps you should learn to make your points a little more concisely. What you wrote could mean any one of three things depending on what part we assume you screwed up in your writing.

-Mark
Read to learn


-James Dr No From Russia With Love Goldfinger Thunderball You Only Live Twice On Her Majesty's Secret Service Diamonds Are Forever Live And Let Die The Man With The Golden Gun The Spy Who Loved Me Moonraker For Your Eyes Only Octopussy A View To A Kill The Living Daylights Licence To Kill Golden Eye Tomorrow Never Dies The World Is Not Enough Die Another Day Casino Royale Bond
LG Hunter is offline   Reply With Quote
Old 07-31-2010, 05:28 PM   #18
HELP ME PLS!!!
 
johny's Avatar
 
Join Date: Jan 2004
Location: here
Posts: 5,793
Thanked 146 Times in 67 Posts
Failed 208 Times in 42 Posts
^ poster put debt was $40. so yes paying $200 to wipe out a $40 debt would be harsh... and really stupid

they probably ment $40k. but that is not what they wrote. they wrote $40 so that is what you read.
johny is offline   Reply With Quote
Old 07-31-2010, 06:34 PM   #19
I answer every Emotion with an emoticon
 
TRDood's Avatar
 
Join Date: Jul 2006
Location: V
Posts: 7,849
Thanked 656 Times in 326 Posts
Failed 190 Times in 91 Posts
STOP GAMBLING

dumb shit.
TRDood is offline   Reply With Quote
Old 08-01-2010, 07:43 PM   #20
Banned (ABWS)
 
Join Date: Feb 2009
Location: Kits/Richmond
Posts: 4,409
Thanked 1,105 Times in 540 Posts
Failed 555 Times in 222 Posts
Bankruptcy haunts you for 7 years afterwards. My parents went bankrupt and couldn't get a CC or loan for years. Its been 15 years now and they don't have any more problems with credit.

Bankruptcy can be very good as long as you plan to live off cash for the next 7 years. No credit (mortgage, car loan, CC, LOC, ...) and renting places that don't require a credit check.

Bankruptcy can also be very good if you leave the country. Your bad credit does not follow you, yet you do have to start over with zero credit history in the new country.

RRSPs are protected in bankruptcy, just make sure you don't liquidate everything to put it into your RRSP, or they will not be protected.

I do not advocate bankruptcy, since it screws good people like me that invest in people paying off their credit... yet I do appreciate and understand the merits of bankruptcy.
taylor192 is offline   Reply With Quote
Old 08-02-2010, 02:34 AM   #21
Banned (ABWS)
 
Join Date: Mar 2007
Location: burnaby
Posts: 255
Thanked 37 Times in 14 Posts
Failed 54 Times in 16 Posts
Is there no way to recover money the money for a creditor in bankruptcy? My gf lent 25,000 to a friend and they paid very minimal if anything back. You gotta jump through hoops to get the guy to pay a couple of hundred back.

I told her to just sue his ass and garnish his wages, but what happens if he quits his job when I sue him? And she's worried she's gonna lose all her chances of any money back if he declares bankruptcy. Any ideas?
Posted via RS Mobile
dimsum119 is offline   Reply With Quote
This post FAILED by:
Old 08-02-2010, 08:32 AM   #22
I don't get it
 
tacobell's Avatar
 
Join Date: Nov 2006
Location: vancouver
Posts: 429
Thanked 162 Times in 71 Posts
Failed 6 Times in 4 Posts
diesel test - sign yourself up for the self exclusion program and get some counseling, you don't want this cycle to continue in the future.

Last edited by tacobell; 08-02-2010 at 08:37 AM.
tacobell is offline   Reply With Quote
Old 08-02-2010, 08:13 PM   #23
I Will not Admit my Addiction to RS
 
Join Date: Feb 2004
Location: Burnaby
Posts: 577
Thanked 20 Times in 13 Posts
Failed 9 Times in 4 Posts
are people just assuming that the poster has a gambling issue?

if every person with 30,000 of debt is a gambler then the united states would have a few on every block.

important question as well, are gov't student loans involved? as these are not included in bankruptcy.
woooo is offline   Reply With Quote
Old 08-03-2010, 01:42 AM   #24
I contribute to threads in the offtopic forum
 
What_the?'s Avatar
 
Join Date: Nov 2001
Location: Vancouver
Posts: 2,746
Thanked 70 Times in 17 Posts
Failed 3 Times in 2 Posts
^ if memory serves me correctly, i think diesel_test has posted about his gambling issues before, which is why people seem to be referring to that...

i could be wrong, but i sort of recall that
__________________
My Buy/Sell Feedback 37-0-0
What_the? is offline   Reply With Quote
Old 08-03-2010, 07:35 AM   #25
Willing to sell body for a few minutes on RS
 
quasi's Avatar
 
Join Date: Jul 2001
Location: Cloverdale
Posts: 11,580
Thanked 3,789 Times in 1,349 Posts
Failed 83 Times in 42 Posts
Quote:
Originally Posted by What_the? View Post
^ if memory serves me correctly, i think diesel_test has posted about his gambling issues before, which is why people seem to be referring to that...

i could be wrong, but i sort of recall that
Ya he does, just search casino losses thread and it's pretty evident.
__________________



“The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth.” - Rocky Balboa
quasi is offline   Reply With Quote
Reply


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 01:23 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net