Active Users:347 Time:19/04/2025 10:14:08 AM
bankruptcy is hardly a bailout moondog Send a noteboard - 19/02/2010 06:48:02 AM
Taxpayers have a bail out. Its called bankruptcy. You can go through the process and walk away from hundreds of thousands of dollars in debt without paying a dime. You can do it once every 4-7 years. That is a bail out, people just don't like to think of it as such.


not since the bankruptcy act which does not allow you to declare bankruptcy and get out of your credit card debt from doing so. so, you're still on the hook for those credit cards, even if most of the rest of your debt is erased (or close to it). not only are you still liable for credit cards, but in some cases, your credit card debt takes precedent over things like child support/alimony. i would hardly call consumer bankruptcy a bailout, but i guess it's probably the closest thing the average person has...
"The RIAA has shown a certain disregard for the creative people of the industry in their eagerness to protect the revenues of the record companies." -- Frank Zappa

"That's the trouble with political jokes in this country... they get elected!" -- Dave Lippman
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