Business Bankruptcy Law | Small Business Bankruptcy Laws

For lack of a better term i was forced to take out a mortgage last year on my home that was paid for. The terms and percentages were awful but thats besides the point.

My income at the time was sufficent to pay my bills and the mortgage.

I ran a successful business for a little over two years until 4 months ago when things went downhill. My mortgage payment is more than most people make in my area in 2-3 paychecks and now im unemployed with a SMALL list of other monthly bills besides the mortgage. I do have about k in other unsecured debt from the business and other unsecured creditors from when i was young that i never took care of.

I have thought about bankruptcy, chapter 13 is a no-go mostly because i cant afford the mortgage payments now so why would i waste my time with a 13?Otherwise it could work,but otherwise i dont really need a bankruptcy if were not including the house mortgage because i could just set up monthly payments with my creditors at a small payment.
7 minutes ago – 3 days left to answer.
my monthly expenses are slim so im not worried about that.

My problem seems to stem from my home, i have about 40k worth of equity in a 117k home.

With that kind of equity, it really does not make sense to file a chapter 7 because in my state you lose all equity besides 5k no matter what.

It really doesnt make sense to do a 13 because as already stated i cant afford the payments now,much less the payments to all my creditors plus the mortgage.

And the only other options are selling, of which is not really an option because foreclosure has already been initiated.

Or a deed in lieu of foreclosure, but then im giving them all of my equity for "free" although the foreclosure would likely not show up on my credit report and i could begin to repair the other damage.It would be faster to do this than to wait 10 years for a BK to come off the credit or 7 years for a foreclosure to come off.

OR just let it be foreclosed on……thats not appealing at all ofcourse.
ADVICE?

For the first time, I find myself at a crossroads I have never experienced before. Any thoughts or opinions would be greatly appreciated. (The story will be long…so thanks in advance for your time in reading it).

I am currently a Residential Property Manager, living and working in the Philadelphia suburbs. I have been in Property Management for 13 years (10 years in Los Angeles and 3 years in PA). I have been with my current employer just over 3 yrs. I work for a small company, basically it’s me and the owner. Lets call the owner "B". My FT salary is not enough to cover all of my monthly expenses, so I’ve been bleeding money every month, since I got here.

I’ve stayed with "B" for a few reasons: First, "B" is self-made millionaire and I am learning how he did it and how he maintains it, which I believe to be an invaluable experience that could not be had anywhere else. Second, I have a strong sense of loyalty and do not want to walk out and leave him in a bad spot.

The first change "B" made (and it was done with no warning what-so-ever) was to cut my hours in-half (from FT to 20 hrs a week). Because of this, instead of the minimal amount of bleeding, that I have been putting up with, it is now substantial and un-sustainable. At this rate I will completely broke in 3 months. Also because of this change, extremely important tasks are not getting done, due to the lack of time. Many facets of the company are already in complete dis-array and it’s only a matter of time before things get even worse. I really hate to see this happening and both of these items bother me equally as much.

About a week after "B" made that shocking change, there was suddenly someone new in the office. A long time friend of my boss’, who is the COO is a software company (currently). Lets call him "A". "A" immediately took over all the leasing activities and is slowly making other procedural changes to the company, not only to what I do, but with the maintenance guys, as well. "A" stays here for a week, than goes "home" to his other job/family for 4 days, then returns again.

Just this last week, now there is another new person in the office. Lets call her "M". "M" was presented to me as someone who was there to "help with the filing and administrative tasks". However, "M" seems to be doing more than that. On Friday I was asked to teach "M" how to do the payables and "A" took her on an all-day tour of all the properties. On a side note: "M" is as sweet a pie to "B" and "A", but has been abrasive, rude and full of attitude with me.

So, my first question is: What is going on here? None of these changes make any sense. Everything was running smoothly and efficiently before these changes and all these changes have done is create chaos and disaster. (I’m the type of person that would recognize/admit if there was something wrong with my performance. There wasn’t. Everything was in good order, just as it has been for the last 3 yrs).

So, now I’m presented with a cross-roads, as to what I should do now. Obviously, I cannot continue like this and allow myself to spiral into bankruptcy!

But, before you answer that questions, I need add some more information.

In February, I got my license and become a REALTOR. My only real client at this point, is "B". Who, despite what is going on, is still making offers on new properties (which means commissions for me). Trying to get new clients (other than "B" has been very difficult and has not gone well).

A little about my background:

I have a BS in Business Administration and a BS in Information Technology.

Despite that training, one thing I have always wanted to do is be a truck driver (don’t ask — just something I always thought I would like). I should mention that I have never liked Property Management, nor have I ever been truly happy doing it. I came very close to becoming a trucker years ago, but due to family circumstances I got shuffled into the being a Property Manager and have just stayed with it.

What is available to me right now:

My best friend (and godson) live in Gainesville, FL. Whenever I want to leave, I have a home waiting for me there.

Unfortunately, from what I can tell looking at job boards, Gainesville does not seem to be a hot bed of great jobs and I haven’t the slightest idea of the condition of the RE market there.

On the plus side: I have a home waiting for me, people that are closer to me than my family waiting for me and the cost of living in Gainesville is almost half of what it is here (e.g. most things are half the cost there, versus here in Philly).

With all this being said: If it were you, what would you think and do? Should I try to secure a job

My closest friend just phoned me to pick him up because his car has been repossessed. I’ve tried to help with organizing his finances by consolidating but he didn’t listen. Now his 1 car has been repossessed. He has 3 other cars, one he’s behind by many payments & is upside down & owes more than it’s worth. He had total 4 cars, 2 he owns – 1 isn’t worth much (old) & the other IS worth a LOT. The other 2, one is now repossessed & the other will likely also be repossessed. He’s upside down on both & has not made payments on either in several months & isn’t likely to come up with the money to get caught up. Even if he did get caught up, he would need minimum of k on EACH of the 2 cars to be even with the value of them. (He can’t sell them unless he comes up with k per car)

He asked if he should voluntarily have this one repossessed also. He’s considering filing BK now. He’s asking me about what’s going to happen. I told him it’s possible they will win a judgment against him & may have the right to cease assets to pay his debt for the money he will owe after they sell his car at auction (the difference of costs from the loss to them).
Can they cease his other assets? (I told him to sell the valuable car asap to keep them from ceasing it – just in case)
I also told him to consider a bankruptcy filing.

Please tell me, does anyone know what rights they will have now?
Is filing for BK the best way out of this mess to start new & fresh & remove old habits? Or is there another way? He knows this would remain on his credit for 10-years if he files. He isn’t likely to have the money to get the payments caught up, also since he’s so upside down, why be prisoner to all of this if there’s a legal way to start new?

Someone with legal knowledge, please help me with this, I’d like to advise him with facts that will really help him. He’s a mess & very stressed from late notices, phone calls & now they are taking away from him these things. How much worse could it get? What is the wisest solution?

P.S. – He also owns a small business (suffering)

Please someone explain this to me. I am having a divorce. All the equity that was in the house was used to pay my for my husbands business. I know I need to sell the house to get out from under this mound of debt. Is bankruptcy the best solution? My husband wants to pay me back the 100,000.00 back over a period of 10 years.

There are no Children in our relationship. I recently found out that my wife of 10 years committed adultery with a roommate we had living with us. I want for us to overcome this problem and other smaller problems within our marriage. I already forgave her for her intercession. After I found out about her infidelity, I went to a men’s retreat, and have become a reborn Christian. I have never cheated on my marriage vows and still hold these vows sacred even after all that has happened, I Love my wife and want her back. I have written to her 5 pages of my faults in our marriage, and have asked for forgiveness for my faults. She says that I am forgiven from her lips but her heart says otherwise. I know that I have the biblical right to divorce her, but this is not what I want, I want to work with her in mending our marriage. However, she will not stop taking phone calls from her lover, we have been separated for a month now (not my decision) and I believe that she (although I don’t have proof) living with him. Because she will not talk to me, I don’t even know where she is living. (Don’t judge me here I have my reasons). She insists that she is going to file for divorce… so if the bible says I have the right to divorce her, I can, but this is not what I want. The bible also says that God hates divorce, and to do all things possible to mend the marriage. This is what I want but she does not want any part of it. I have forgiven her, and have treated her with respect as my family has, and she continues to treat us like garbage. So I ask again how do you help an unrepentant adulteress find Gods Light and Love????? Should I divorce her, or should I let her file for the divorce? When do you take off your wedding band, when the vow is broken, or when the divorce is finalized? Since we are not living together at the moment and I have lost everything in my life and yes I do mean everything, my wife, my home, my job, my business, having to declare bankruptcy, and some serious medical problems. I have found that God did not turn his back on me rather I turned my back on him for many years. I am now rediscovering who I am and I am taking steps to better myself. But what do I do about her???????

For lack of a better term i was forced to take out a mortgage last year on my home that was paid for. The terms and percentages were awful but thats besides the point.

My income at the time was sufficent to pay my bills and the mortgage.

I ran a successful business for a little over two years until 4 months ago when things went downhill. My mortgage payment is more than most people make in my area in 2-3 paychecks and now im unemployed with a SMALL list of other monthly bills besides the mortgage. I do have about k in other unsecured debt from the business and other unsecured creditors from when i was young that i never took care of.

I have thought about bankruptcy, chapter 13 is a no-go mostly because i cant afford the mortgage payments now so why would i waste my time with a 13?Otherwise it could work,but otherwise i dont really need a bankruptcy if were not including the house mortgage because i could just set up monthly payments with my creditors at a small payment.
7 minutes ago – 3 days left to answer.
my monthly expenses are slim so im not worried about that.

My problem seems to stem from my home, i have about 40k worth of equity in a 117k home.

With that kind of equity, it really does not make sense to file a chapter 7 because in my state you lose all equity besides 5k no matter what.

It really doesnt make sense to do a 13 because as already stated i cant afford the payments now,much less the payments to all my creditors plus the mortgage.

And the only other options are selling, of which is not really an option because foreclosure has already been initiated.

Or a deed in lieu of foreclosure, but then im giving them all of my equity for "free" although the foreclosure would likely not show up on my credit report and i could begin to repair the other damage.It would be faster to do this than to wait 10 years for a BK to come off the credit or 7 years for a foreclosure to come off.

OR just let it be foreclosed on……thats not appealing at all ofcourse.
ADVICE?

I knew my Girlfriend for 10 years and I was married for 5 years, we have 2 kids (9 and 4.5 years old). We are bi-racial couple she is white and I am asian. We had differences of opinion always, but since last couple of years she started taking knife out on me. Then few weeks ago she did the same, to protect my self I held on to her wrist. She got bruised on the wrist, she took the photos of those bruises.

Whenever she is in a angry mood and looking to fight, I stay away at work or hang around in my friends restaurant to go home after she slept to try to avoid escalation of conflict. If I go home after office she fights with me, If I go late, to avoid issues, she accuses me of having an affair.

Recently we had some disagreements, I was quite and calm, she called cops and they suggested to me that I might want to leave to avoid escalation. I left. To protect her, I never told the cops she tried to stab me. But the next day she went to court and got a PPO against me based on the photos of bruises. Now, she says I cannot see my kids without an police escort and I cannot get an escort unless I sign up for serious counseling. I loved my family a lot, I never cheated on her. Now my kids don’t want to speak to me and she is trying to control my relationship with my kids.

I am very upset, sad and angry. She says she still loves me and they all miss me and I should work hard and make sure I pay the mortgage and all expenses of the house pplus child support but I am not allowed into my home.

I want to do the exact opposite. Quite my 6 figure paying job, file for bankruptcy, and work a small job in my friends restaurant. She doesn’t work, she never worked, she don’t like to work. Our primary disagreements were relating to she expecting/wanting me to do chores around the house, plus start and do business and do my full time job.

The other option I am contemplating is going back to my country. My heart and soul is torn. I love them all a lot, I dont’t want to live yet at the same time I feel betrayed and just disappear from their life. I know their life will be hard once I leave. On top of that she claims she is sick.

What do I do?
Response to Kel:

Kel, I am not seeking sympathy or trying to be "Poor Me". I am honestly confused about the whole situation. I have never seen or been in a situation like this before. From where I come, the responsibilities are divided between the partners. A house-wife or house-husband doing/maintaining the house don’t make them "housemaid". It is just they are playing their part in managing the household.

Well I tried to beat the economy with a great product and friendly service but I failed to keep up with the declining business. I closed up shop and have a few outstanding debts. Electric bill, Cable and thier rediculous 2 year contract, a food vendor and a 5k loan from a company that leveraged credit card sales. My partners have bailed and changed numbers, i still answer the phone but I have no money to answer these people with. I lost my house in this whole process and had not had a pay check in several months. I just landed a decent job which I am thankful for but I cant afford to pay business debts when I have personal debts that need paid. I am curious about personal guaranty with the credit card loan people and if that would be exempt from a bankruptcy. Also would I just file for the chapter 11 on the LLC? Or do I have to file personally as well? I dont want to ruin the next 10 years of my life with a bankruptcy on my credit report but then again I have a foreclosure so what can I do?

I am confused on how providing services will decrease the deficit. Here is the quote that I need desperate clarification for:

"Lie #5: Obama’s health care plan will bankrupt America!!!

The truth: We need health care reform now in order to prevent bankruptcy—to control spiraling costs that affect individuals, families, small businesses, and the American economy.

Right now, we spend more than trillion dollars a year on health care. The average family premium is projected to rise to over ,000 in the next decade (presently averaging ,500)—and each year, nearly a million people face bankruptcy because of medical expenses. Reform, with an affordable, high-quality public option that can spur competition, is necessary to bring down skyrocketing costs. Also, President Obama’s reform plans would be fully paid for over 10 years and not add a penny to the deficit."

For lack of a better term i was forced to take out a mortgage last year on my home that was paid for. The terms and percentages were awful but thats besides the point.

My income at the time was sufficent to pay my bills and the mortgage.

I ran a successful business for a little over two years until 4 months ago when things went downhill. My mortgage payment is more than most people make in my area in 2-3 paychecks and now im unemployed with a SMALL list of other monthly bills besides the mortgage. I do have about k in other unsecured debt from the business and other unsecured creditors from when i was young that i never took care of.

I have thought about bankruptcy, chapter 13 is a no-go mostly because i cant afford the mortgage payments now so why would i waste my time with a 13?Otherwise it could work,but otherwise i dont really need a bankruptcy if were not including the house mortgage because i could just set up monthly payments with my creditors at a small payment.
my monthly expenses are slim so im not worried about that.

My problem seems to stem from my home, i have about 40k worth of equity in a 117k home.

With that kind of equity, it really does not make sense to file a chapter 7 because in my state you lose all equity besides 5k no matter what.

It really doesnt make sense to do a 13 because as already stated i cant afford the payments now,much less the payments to all my creditors plus the mortgage.

And the only other options are selling, of which is not really an option because foreclosure has already been initiated.

Or a deed in lieu of foreclosure, but then im giving them all of my equity for "free" although the foreclosure would likely not show up on my credit report and i could begin to repair the other damage.It would be faster to do this than to wait 10 years for a BK to come off the credit or 7 years for a foreclosure to come off.

OR just let it be foreclosed on……thats not appealing at all ofcourse.
ADVICE?
Ok i dont think you guys are reading everything.

Selling the home is pretty much out of the question because of the mediocre or slow real estate market combined with the foreclosure that has already been initiated and would most likely only take 3-4 weeks to be final.

OK any other advice?

in the divorce decree it states that I am responsible for all debts incurred by my former business and that she is relieved from them. I sold her the truck because I didn’t need it in jail and I owed her money as well for paying my child support current last year. Here’s where it gets confusing, i am in jail in Texas and looking at a felony revocation where I would be spending 2-10 years in prison. Alabama and Mississippi is where most of my debts are and one has even filed small claims three days after I left alabama. I need to act on this fast. Can I do this myself with the correct forms? Which state should I file in? Texas allows you to keep property in which you need for work. But all the divorce decree said that I would be allowed my personal property only and it didn’t stipulate what was personal property. my ex seems to think its just my clothes. Any suggestions would be greatly appreciated.

We had a business in California for 10 years, after 9-11-2001 we started losing our customers due to economics and we had to file bankruptcy in 2002 on both personal and business. We filed chapter 7. We moved to Florida, did not start a business and now my husband’s job has taken a turn for the worst, he is a salesman and the commission is not the the same to be able to make the payments that we have. There is no equity in the home to be able get a line of credit due to the real estate market and we are just barely keeping afloat making minimum payments on unsecured cards. We have exhausted all the savings and my husband cashed out his 401-k, our stimulus package payment went to our mortgage. Now I am considering the Chapter 7 but how long before I could file for this?

We started a business recently, and I received a request from the IRS to pay back taxes and penalties from 1995/1996. I knew he hadn’t paid last year, though he said he’d paid estimated taxes — it turns out he is having the least amount possible taken out of his paycheck. I did his taxes this year, and he owes a LOT. I gave him an ultimatum to fix the IRS issue or we won’t be married in September. Yet he seems to be in denial (he doesn’t know that I know about the full 10 years of not filing). He half-heartedly wants to fix it (!) — to the extent of what I know. I don’t think he understands the extent of the financial burden this will be to BOTH of us. I want to protect myself — I’m squeaky clean. My name is the only name on the house, etc, so nothing can be taken away. We are about to relocate and buy another house in Texas, a common-law state (6 months). Am thinking he needs to file for bankruptcy before we’re married. But he doesn’t want to ruin is good credit. Sigh.

It’s ok this is just a example, Been living with a woman that I don’t really love; not married and unemployed. She has been working 2 jobs making good money that she spends the hell outa of once she does get paid and comming to me asking for more money I don’t have. I havn’t been able to find a good job or career. Did manage to save the house without bankruptcy by using up credit cards and giving her son a car to go to college plus, still making the house payments and paying for food. Now that the housing market has made a huge crack with falling prices, my house is worthless. Won’t sell the house for nothing cause I know you can’t go build a house for less. Been trying to get her to sell the house now going on over 2 years. She finally agrees that we should sell the house now that I’m ,000 in debt. Phones at my house rings off the hook from crediters morning, day and night. Spoke to several lawyers that can handle my case for credit bankrupty chapter 7 for erasing my debt but, they say it will take 10 years to restore my dept and cost me 00 in legal fees. Not to mention if I’m found guity during the case for perjury as all people face during bankruptcies.
It’s a huge mess and it just keeps getting worse since credit card companies keep charging for higher interest rates and finance charges cost of living keeps going up too. Before, I can get the money needed for the lawyers the amount will grow to over 100 thanusand dollars by the end of the year from not having a job. Had the creditors left me alone and stop calling, my woman would have stop spending and would’ve got the job. Would have made 00 on AOG since I had 50000 shares at .05 and went to .20 last year with a local invested brokage company. I’ve made lots of money in my time even doing 4 for 1 stock splits making 0000 off of 00 investments and keeping a job. If I had it to do all over again, would have never sign my name on a contract to buy a house for investment with my lady friend. The plan totally failed when the woman fail in love with the house…The same thing is going on all across this nation of ours as the government continues to help the banks, car companies and finanial companies. They should be giving billions of dollars to the people to spend on paying back debt. Shame on America! If the people had the money to put back into the system this would create jobs, stop forclosures, payoff credit cards and end the worse crises in history. Tax payers could pay back money they owe to the IRS or Federal Government and it is very important to pay back those taxes that build our bridges, roads and highways. Thou we continue in the wrong path with hardship and with new leaders "God Bless Thy" to lead this country. So, look for more of the same and worsier times. Anybody that can lead me in the right path is welcome, I’m here to help you anwser these questions.

1. Does it make since to give money to a failing president or CEO of a company?

2. How can giving money to Corporate America solve the problems using bailout money if noone, buys cars, houses and theirs no jobs in the job market to drive our economy?

3. Should the adults or people rich and poor recieve Ten’s of billions of dollars each with equal 50 to 100 thausand dollars in bailout money which could pay off some mortages and save thousands of people from being homeless?

Note: This money should be required to pay back only bills or debts that are outstanding if owed. If no money is owed the adult can use the money for anything such as food, cars, to buy houses, business and ect to recycle throughout our economy.

Remember, everthing that is purchase, ever 1 cent that is spent and saved goes back into the system to create jobs, pay bills and pay taxes that build america and the United States of America…

Sincerely,
The Invincible Charlie

I have a small trucking business that I have ran for a bout a year, but because of very high overhead and slow shipping, I am underwater and do not see any way of even breaking even if business doubled for the next several years. I am 29 and have worked since high school and I really want to go to college and get a good job. Will the bankruptcy kill any chance of that. I had excellent credit for the past 10 years prior to this. Will that matter? Please help, I am in a really bad situation.

I have a small trucking business that I have ran for a bout a year, but because of very high overhead and slow shipping, I am underwater and do not see any way of even breaking even if business doubled for the next several years. I am 29 and have worked since high school and I really want to go to college and get a good job. Will the bankruptcy kill any chance of that. I had excellent credit for the past 10 years prior to this. Will that matter? Please help, I am in a really bad situation.

For the past 4 months, I have been trying to collect on invoices for work performed for a general contractor doing business in my state. He resides in the same state, but out of town. My business partner and I have been hired by the contractor on three separate jobs and in each case, collecting is next to impossible. He refused to sign a work contract with us and would not give us the down payment we normally require. Unfortunately, we did the work anyway. My sister is an employee of the company and that is probably the reason we continued with the work.

I recently performed a online court records search on this man and was amazed at my findings. He has no less than 60 judgments against him and in one case he was convicted of Theft in the 1st Degree, was sentenced to 10 years in prison and ordered to pay restitution in the amount of approximately 2,000. That was approximately 10 years ago. He served a few days of his sentence on two separate occasions and was bailed out with ,000 in bonds. A partial restitution was made. Of the remaining cases, he still owes in excess of 0,000. It is my understanding that he has filed bankruptcy, but have not confirmed that yet.

His pattern continues. On the jobs I worked on recently, he still owes subcontractors. On the first job for which he was paid in full in September, he still owes approximately ,000. Yesterday, we collected from the homeowner on the 2nd job. On the final job, we ceased work on December 23, 2008 and filed a mechanics lien. We spoke with the homeowner and explained our concerns. The owner had already paid the general ,000 with a balance due of approximately ,000 based on the building permit information filed with the city. The job was started the end of September and to date, we have received nothing. The general contractor has promised payment by the 10th and 25th of each month if we provide invoices by the 25th and 10th, respectively. He has promised payment but neglected to write the checks.

I visited with the owner of his last business operation. He had convinced her to let him put the business in her name and make him an employee. Most of his clients and vendors are unaware of this. He has the same arrangement with the bookkeeper of his current business. It appears that he then collects money from the clients and then either spends it or diverts it elsewhere, thus leaving the unsuspecting owner with a series of bounced checks, lawsuits and irate vendors. He is eventually brought to court, a judgment is ruled against him and he walks away. The plaintiff, in most cases, receives little or nothing in restitution. It also appears that he may have forged signatures on credit applications and possibly be involved in a check kiting. Again, he is not the owner of the business, but it appears that he is directly involved in its financial operations.

The previous owner has contacted the local authorities, but they basically say they can’t do anything. One vendor has contacted the Attorney General of the State and is awaiting a response.

My question is this: With his 20 year legal track record of nonpayment and theft, what can be done to stop him from continuing his practice/scam? He is brilliant in the execution of this "scam", but needs to be stopped for the protection of unsuspecting clients, vendors and subcontractors. What can be done? Does a class action against him apply?

Read below.. thoughts?

College is worthless, and the average person has no common sense

Unless you major in law, med, finance, or computers…there really is no point to college.

Heck, even computers you dont really need much education. These hackers who, well, hack…most of them never went to college, they just play with computers all day and theyre SMARTER than the people who work for the government with Masters! The government guys make anti-hacking software, then the hackers always find ways to get through it! So….do you really need college for computers either?

Or law, all you need is common sense to be a lawyer, and most lawyers dont have common sense. The law these days is a joke, a 17 year old guy goes to jail for 10 years for getting head by a 15 year old girl??? Innocent people go to jail all the time, innocent people get executed. Lawyers only defend you because you’re paying them too. If the other guy paid your lawyer double to go against you, he’d do it. And bankruptcy lawyers…do I even need to explain? If you wanna file for bankruptcy, you have no money! So why do they charge you 00 to file?

Business, do you really need a Masters to know how to manage a business, when there are people who barely graduated high school and own their own business? Finance…do you really need a Bachelors to know how to manage money?

So many people are going to graduate college, forget everything they learned, and decide to change their career paths. So many people opt to go to graduate school, get their masters, PhD….for what? When you graduate, you’re gonna have so much money in college debt to payoff, and unless you majored in law, med, or computers, u probably wont make anywhere near enough to pay it off. You’ll end up working 9-5, Monday through Friday sitting at a desk all day, and then go home and be to stressed to do anything. And on Fridays, you’ll get drunk off your ass because that’s all you know how to do.

Look at the amount of people being laid off. 3 million were laid off last year, and of those 3 million, i guarantee at least half had college degrees, maybe Masters, PhDs. NOW those people are fighting to work at places like mcdonalds. Theres no such thing as job security, NO SUCH THING. Within 20 years, when all these immigrants who cant speak English, start to speak better english, theyll take your jobs. Those people work 100x as hard as you do, and will do YOUR job for HALF of what you make, AND be 100x more productive.

The majority of these jobs, all you need is a month of on-the-job training, and you’re set. These hispanics who cant even speak English, go and cut someones lawn and make 30 dollars for the 45 minutes it takes them to cut it. Meanwhile, you’re making 25 an hour to sit at a computer wearing a suit and tie for 40-60 hours a week.

In this economy…you all think its BAD to live at home??? Quit dissing people who live at home, theyre SAVING their money.

Companies want you to think they wont hire you unless you go to college and study a bunch of courses you’ll never need. Sara graduated with a 99%, and Joe graduated with a 72%, and they both got the same degree, whats the difference? No employer is ever going to ask for your grades, and they also wont ever call your college to make sure you graduated. Ive seen ads for jobs that a monkey could do, and the company says "must have a BA in…", and im like "why?!…a monkey could do that!". They think that by going to college, you become a better all around person…when in reality, you probably become an alcoholic and party slut or party jerk. My cousin is married to a girl with a Doctorate, and shes had 6 reckless driving tickets in the past 7 years, and all she talks about is how her and her lawyer friends get together and get smashed…..wow, smart people.

You the employees are much more superior than your bosses. Theres 2-3 bosses, and 4000 employees, so who do you think would win in an argument? If you want a pay raise and you’re sick of kissing ass, simply STOP WORKING and go on strike til you’re CEO decides to give you a pay raise. Why is it that airline pilots, lawyers, doctors all go on strike to get higher pay raises (yet they make ENOUGH), yet the people who make shit money, never go on strike? Continue kissing ass, hating your job, and not standing up for yourself and i promise you, you’ll suffer for life. EVERYWHERE i go, 80% of people HATE their jobs and job life. Thats sad. Ok actually, they LOVE their jobs…when its 5pm and theyre ready to leave, lol. But when its 6am and they gotta get up, they HATE it. When its payday, they LOVE it. When its the weekend, they LOVE it. But during the work day, they hate it.

Supervisors, bosses, executives, managers, etc…are full of crap. I used to have a job where I worked at 7am, and one time I had to work at 4am. My boss complained that I wasnt doing much and being too quiet and lazy……at 4am. Hmm, I wonder why someone would seem lazy a
at 4am?! I mean, were these bosses born yesterday? ITS 4AM!!

One thing thats pathetic about employers, is they expect hard work for little pay. In high school I made .50 an hour at UPS, .50 an hour at an ice cream shop. I also made an hour at a grocery store, and all 3 jobs expected me to work like a dog. ….for how much per hour? No, you get what you pay for! If you want an HVAC technician to come install a new system in your house, and he offers to do it for 0, you WONT get a good system. Same goes with people. You DO NOT pay someone .50 an hour and expect hard work. YOU.GET.WHAT.YOU.PAY.FOR. Another thing thats funny is, companies expect you to give them 2 weeks notice before you quit…YET, if they fire you, they dont give you ANY notice, and your finances will be ruined. If you just leave, they’ll replace you in a day.

You wanna know why so many of you work too much? Because you’re materialistic. You have to have the top of the line car, the best apartment, you part
you party constantly, you gotta have the best HDTV, or spend 9 dollars on a drink….wtf?!

Book smarts will only take you so far. Street smarts is what you need to survive life. And common sense. Most people ive learned, have none of that.

All a degree says is, you went to college and took courses you’ll never need, and spent the money which youll now need to pay back…and ur job doesnt pay enough to let you pay it off comfortably. (Especially if you go to GW and pay 65K a year). Go look up online, the best doctors and lawyers in this country, they didnt go to Harvard, Yale, or Princeton.

Companies dont lay off workers because theyre losing money, they lay off workers because the CEO is making 2 million instead of 20 million, and that makes him sad.

I have about 25k in credit card debt. Use to be about 9500 but after 10 years they are all judgments and with all the interest and fees its about 25k now. About a year and a half ago i had a really nice job was making decent money. I saved about 9000$ so i can try to pay my debt off. Originally on average i owed about 2500 to each of the credit cards i had. I got all my info together and called each of them to try to set up a plan so i could pay them off. Right now discover says i owe about 7k originally 3k, and city says i owe 6.5k originally 2.4k, washington is now about 4.5k originally 1.8k those 3 are my highest and all three wouldn’t agree for nothing lower then what they say i owe. all others agreed to a very nice settlement. I offered discover 4.5k , city 4k, and Washington about 2.5k to settle. Washington accepted 3k. but city and discover gave me a no and said that if i didn’t have the full amount they would just garnish my checks till its paid in full. At the time i was off work because my back started to give in. I had the doctor take some x rays and she told me that i had to take physical therapy for my back and should stay away from heavy lifting. Which means i cant do my job no more. So now i am unemployed and well luckily i still had that 9k i saved. Well now i am just fed up with them. I already ran out of money and my brothers and sisters are supporting me and i want to just file for bankruptcy and go to school and get my self a degree in business. Does anyone have any advise you can give me. Thanks in advance.

I also forgot to put this in. My brother was going to help me before when i was working he was willing to put in about 3k on top of my 9k so i could get out of debt. But now hes also low on funds and well i just decided to file for bankruptcy and hes willing to help me pay a lawyer for the process.

Also I am not really worried about the credit score part, i have 6 sisters and 3 brothers and well i learned my lesson and i made sure they learned from my mistakes and they are really thankful for my advise about credit cards lol and bank loans. They all have almost perfect credit scores and i had a big hand in getting them there. My sister offered me a position in a business she is opening and all i have to do is go to school for the position. She was actually the one that tried to negotiate with the credit card company’s on my behalf and she just told me to file since they wont accept a settlement.

I just want to see how many options are available for a situation like this. So i am open for any suggestions, advise, ect… from respectful people who can understand the situation. If you want to criticize, go right ahead too lol I want to here all your opinions.

The funniest part about this is they all want to settle now that i have no money. LOL I just think thats really funny.
hehe ya i already knew about that but i am safe from that too because my sister owns about 3 businesses and she is willing to offer me a marketing position. I am really good at it too i have been helping her with allot so i just want to get a degree in that field and go work for her.

(Advice for a close friend)
No major Assets.
Self employed – Would this effect his Corporation?
If he goes chapter 11 – (he can qualify) he doesn’t owe anything
but would have to wait 10 years before he can earn credit.

My thought. Wait it out. If his business does really well. He can pay off the debt at a reduced rate which would look alot better.
Or wait 3 years less… Because I think that goes off in 7 years right?