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SVTPerformance's Chain of Restaurants
Road Side Pub
Storm Area 51, They Can't Stop All of Us Event
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<blockquote data-quote="tt335ci03cobra" data-source="post: 16245575" data-attributes="member: 68944"><p><a href="https://www.credit.com/debt/filing-for-bankruptcy-difference-between-chapters-7-11-13/" target="_blank">Filing for Bankruptcy: Chapter 7 vs. Chapter 11 vs. Chapter 13</a></p><p></p><p>First so we are on the same page, review 7/11/13 filings.</p><p></p><p>You can file for bankruptcy basically until you die. It will be ugly living.</p><p></p><p>1. 2nd bankruptcy is much harder to go through because you are limited to full asset forfeiture and basically horrible credit. House cars et all gone. (In proper accordance of the law). Where this goes wrong is people scamming it by transferring titles and so on. Bridge deals. It does tend to catch up with them and easily results in jail time for scamming the courts.</p><p></p><p>2. If everyone did it all at once, the people who don’t have debt would buy up the vacuum in the market and the market would largely sustain, but a lot of citizens would basically become a quasi criminal underclass with very little means beyond theft to sustain themselves. I don’t see it happening but I wanted to accurately answer the question to the best of my conscious.</p><p></p><p>People are selfish, they don’t want to live on Raman soup vs just work at their debt and keep the luxaries</p></blockquote><p></p>
[QUOTE="tt335ci03cobra, post: 16245575, member: 68944"] [URL='https://www.credit.com/debt/filing-for-bankruptcy-difference-between-chapters-7-11-13/']Filing for Bankruptcy: Chapter 7 vs. Chapter 11 vs. Chapter 13[/URL] First so we are on the same page, review 7/11/13 filings. You can file for bankruptcy basically until you die. It will be ugly living. 1. 2nd bankruptcy is much harder to go through because you are limited to full asset forfeiture and basically horrible credit. House cars et all gone. (In proper accordance of the law). Where this goes wrong is people scamming it by transferring titles and so on. Bridge deals. It does tend to catch up with them and easily results in jail time for scamming the courts. 2. If everyone did it all at once, the people who don’t have debt would buy up the vacuum in the market and the market would largely sustain, but a lot of citizens would basically become a quasi criminal underclass with very little means beyond theft to sustain themselves. I don’t see it happening but I wanted to accurately answer the question to the best of my conscious. People are selfish, they don’t want to live on Raman soup vs just work at their debt and keep the luxaries [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Storm Area 51, They Can't Stop All of Us Event
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