When filing bankruptcy in CA, is it OK to make big purchases?
Q. My friend is planning on filing bankruptcy and she wanted to make big purchases using her credit card prior to filing. How safe is it? What are the contingencies? please... objective responses only. thank you.
Asked by beautiful bird - Sun Oct 19 23:25:06 2008 - - 5 Answers - 0 Comments

A. It means the judge at the bankruptcy court is going to be a lot harder on her. And the court will likely not discharge any debts run up since about 6 months before the filing. That is, she will have to pay for those items anyway and the amount she has to still pay on the old debts will be a lot higher. Someday she will be very sorry she made those purchases.
Answered by chuckles951 - Sun Oct 19 23:48:15 2008

What are the consequences of filing for bankruptcy?
Q. I recently found out that when I was about 5, my parents had to file for bankruptcy. My parents are now divorced. Since I am only 15, I don't fully understand the concept of bankruptcy. What are the consequences of filing for bankruptcy? What are the benefits? And, What are the benefits of not filing for bankruptcy?
Asked by ashley. - Wed Oct 8 22:22:55 2008 - - 3 Answers - 2 Comments

A. Depending on what chapter the bankruptcy was filed under, I'm assuming Chapter 7, liquidation, the bankruptcy court appoints a trustee to break up the assets owned by your parents and distribute it to creditors. Aside from essential assets such as tools of the trade, home, etc. you lose everything to pay off any delinquencies. There are almost no benefits to bankruptcy as it ruins your credit score and makes it almost impossible to receive a loan in the future. Bankruptcy is only a last resort, if all other choices have been exhausted. There are much more implications to bankruptcy I probably left out, but that's the general stuff.
Answered by heyguy - Wed Oct 8 22:30:35 2008

What is the consequence of filing bankruptcy protection to avoid harassment from creditors?
Q. believe it or not, i just cannot find any job. I have hunted for job a lot but there is no luck. Now i'm being frustrated by creditors who call 40 times a day. So to get rid of such harassment, i decided to file bankruptcy protection. What will be the consequence of filing bankruptcy?
Asked by sx24 - Tue Mar 10 23:31:15 2009 - - 4 Answers - 0 Comments

A. Good luck. You might want to wait till the last minute. Maybe just before you do get a job, then you have a chance to rebuild your life and finances. If you do it now and are still falling further behind and still no job you will never get out of the hole and bankruptcy will not be an option Have no shame as long as your trying. As to abc: The CEO of one of the wall street co. got 100 million dollars for 3 weeks of "work". That is stealing!
Answered by x x - Tue Mar 10 23:43:18 2009