I'm filing bankruptcy - have hit total rock bottom

toddsclowns · 01-09-23, 05:44 PM

Is this 5th shift JJ?

eidolon · 01-09-23, 05:44 PM

You don't make 200k a year, or you aren't indebt 80k.
80k indebt is nothing.
You will never be allowed bankruptcy making that much with such a low level of debt.

JIBBBY · 01-09-23, 05:45 PM

Bankruptcy is overrated unless you own assets.

Creditors can't ever come after you and put you in jail or even seize your bank account even if you have massive debt and can't pay up. Your creeditt will be screwed for 10 years though. The debt collectors will send you letters and call and harass you constantly though but they can't do anything legally.

If you do own an asset like a house the bank can foreclose though if you can't pay that mortgage and you will get evicted and need to walk.

I hope JJ Gold is not reading this

...

newton0038 · 01-09-23, 05:48 PM

Bankruptcy judge will force u into a rehab if u want the Bankruptcy discharged

Brock Landers · 01-09-23, 06:38 PM

Originally posted by JIBBBY

Bankruptcy is overrated unless you own assets.

Creditors can't ever come after you and put you in jail or even seize your bank account even if you have massive debt and can't pay up. Your creeditt will be screwed for 10 years though. The debt collectors will send you letters and call and harass you constantly though but they can't do anything legally.

If you do own an asset like a house the bank can foreclose though if you can't pay that mortgage and you will get evicted and need to walk.

I hope JJ Gold is not reading this

...

Can't do anything legally? They can and do sur people and get judgements every day. Then wage garnishments. Unless you're judgement proof, it's not nothing and you're totally wrong

mjsuax13 · 01-09-23, 06:51 PM

EGrecu, do you have access to multiple cars at the dealership? If so- get a couple bricks from the hood and chop them up and sell them. You can use different cars to move the product in different areas. Always switch cars. All right turns and no extra stops pal.

Reload · 01-09-23, 07:03 PM

It’s too soon to give up. I was maxed out a few times in my late 20’s and early 30’s. Have to just chip away at things. Take on another job for some more income. Invest anything you can for a gain here or there.

You can pull off a comeback. If you want to keep gambling a little, $500 max bets can add up.

Ian · 01-09-23, 07:11 PM

If you're betting with land based casinos see if you can get yourself on a self-exclusion list. Joining a GA group could help also. Best wishes and good luck to you.

jjgold · 01-09-23, 07:20 PM

still laughing

mjsuax13 · 01-09-23, 07:21 PM

juicername · 01-09-23, 07:22 PM

Originally posted by mama whoiscrying

She knows your a loser. Women are smart. Men think they bare dumb. She's probably rat holed some of your air money.

Plot twist.

The GF is his PPH bookie.

flyingillini · 01-09-23, 07:37 PM

God Bless, let me know if you want to be saved. I save people via zoom.

mjsuax13 · 01-09-23, 07:56 PM

Originally posted by flyingillini

God Bless, let me know if you want to be saved. I save people via zoom.

He doesn’t want to be saved by GOD, wants to be saved by a parlay. God Bless.

JIBBBY · 01-09-23, 08:10 PM

Originally posted by Brock Landers

Can't do anything legally? They can and do sur people and get judgements every day. Then wage garnishments. Unless you're judgement proof, it's not nothing and you're totally wrong

Unpaid taxes yes. Creddit carrd debt no. I'm right.

iwantcougars · 01-09-23, 08:18 PM

Originally posted by Reload

It’s too soon to give up. I was maxed out a few times in my late 20’s and early 30’s. Have to just chip away at things. Take on another job for some more income. Invest anything you can for a gain here or there.

You can pull off a comeback. If you want to keep gambling a little, $500 max bets can add up.

how you suggest that IF

Originally posted by EGrecu

I'm not gonna make my wife suffer by living a poor man's lifestyle.

iwantcougars · 01-09-23, 08:23 PM

Egrecu poor people have 2x/3x more sex than rich couples

ChuckyTheGoat · 01-09-23, 08:24 PM

Originally posted by mjsuax13

Haha. Classic scene.
1) When he won...he collected.
2) When he lost...he told the bookies to GFThemselves.

Brock Landers · 01-09-23, 08:50 PM

Originally posted by JIBBBY

Unpaid taxes yes. Creddit carrd debt no. I'm right.

You're 100% full of shit

toddsclowns · 01-09-23, 09:06 PM

Jibby and Brock arguing about who is regurgitating more bs...the stuff that keeps me coming back

play4win · 01-09-23, 09:30 PM

why worry if you got betpoints to use to pay off!!!

gauchojake · 01-09-23, 09:44 PM

I had the same thing happen and I called sunrise debt solutions. They settled all my debts for pennies on the dollar. 5 Stars!!!

gauchojake · 01-09-23, 09:45 PM

Just look at the bright side, the used car market has never been healthier.

ThaWoj · 01-09-23, 09:50 PM

A lot of wrong in this thread.

Someone said bankruptcy won't get discharged because 80k is too small? Completely false.

Ive been served, sued, and garnished several times. I know enough about debt and contract law just from my own cases that I probably could become a lawyer.

jjgold · 01-09-23, 09:51 PM

Jim, you don’t know anything about bankruptcy it’s the greatest thing since sliced bread. I did it three times against my businesses and bailed out because of gambling debt.

pavyracer · 01-09-23, 09:59 PM

Make another parlay but bet the opposite of your pick on last leg.

BlueChip1100 · 01-09-23, 09:59 PM

I got it you went on here to post your story. You probably depress as hell right now. Go get some alcohol.

You sounded similar to my situation. I don't think chapter 13 can help you. At this point, you shouldn't have to worry about the interest, fck it. Your credit is going to be affected regardless. If your debts are unsecured, the banks can't do sht about it unless the debt is big enough for them to pursue in court. Bad credit stays on report for 7 years. You are a car salesman, you should know this.

Just to make you feel better, I lost ~$1M since 2003. Hard earned-money. Believe it or not, I'm still betting. I make as much as you do as an engineer and a broke-ass. Good thing is I still have my health, my children, a decent house, and my job.

It's going to get worse before it gets better. Hang in there man.

Originally posted by EGrecu

I had a monster hot streak at the beginning of 2022 where i won back everything I ever lost and then some. After that, I hit a cold slump and lost everything chasing huge amounts and parlays

After that, I lost everything just trying to chase back and doing stupid parlays - my 401K is down to 20K. As it stands now, I'm in about 80K between personal loans and credit card debt. I'm filing chapter 13 to where at least the interest will be eliminated

I'm unbelievably frustrated with myself for ever allowing this to go so bad. I have a beautiful life - I make about 200K selling cars, my wife makes 60K a year as a nurse. She's a beautiful 24 year old girl who loves me to death. There's no reason for me to ever get involved with this

I'm 33

KnuckleHeadz · 01-09-23, 10:00 PM

Is Kraken the nurse you speak of?

BlueChip1100 · 01-09-23, 10:02 PM

Originally posted by pavyracer

Make another parlay but bet the opposite of your pick on last leg.

Not a bad idea.

BlueChip1100 · 01-09-23, 10:06 PM

Originally posted by jjgold

Jim, you don’t know anything about bankruptcy it’s the greatest thing since sliced bread. I did it three times against my businesses and bailed out because of gambling debt.

Were you rewarded chapter 7 or 13? They are a very different thing. Chapter 7 is used to be easy to get, but not anymore. Too many people took advantage of it. You are 1 of them, Corbin LOL

BlueChip1100 · 01-09-23, 10:10 PM

He probably has $80k with many banks. I think he is safe if each one is under $8k, $10k even. Just wait to see if they sue you in court or not. I had a $10K unsecured loan was written off, but they made me paid the tax on it thou.

Originally posted by ThaWoj

A lot of wrong in this thread.

Someone said bankruptcy won't get discharged because 80k is too small? Completely false.

Ive been served, sued, and garnished several times. I know enough about debt and contract law just from my own cases that I probably could become a lawyer.

JIBBBY · 01-09-23, 10:16 PM

Originally posted by Brock Landers

You're 100% full of shit

I have a friend that ran up $40,000 in creddit carrd debt and one day couldn't pay it anymore, all his card limits and cards were frozen soon after.

10 years later he has new creddit cardds now and never paid the debt off on any of the old carrds of 10 years ago. He always had collection companies calling him and sending him mailers though.

Not BS. Is what it is. Debt was forgiven in time. He didn't go to jail, he didn't have his bank or wages attached.. PERIOD! FACT!!

BlueChip1100 · 01-09-23, 10:16 PM

Originally posted by Brock Landers

You're 100% full of shit

JIBBBY is right if he lives in the state protects him from wage garnishment. Texas is one of them, plus the bank can't put a lien on a primary residence. Homestead protection act.

biggie12 · 01-09-23, 10:18 PM

i keep telling you guys if you stop entertaining his nonsense he will stop posting.

BlueChip1100 · 01-09-23, 10:18 PM

Originally posted by JIBBBY

I have a friend that ran up $40,000 in creddit carrd debt and one day couldn't pay it anymore, all his card limits and cards were frozen soon after.

10 years later he has new creddit cardds now and never paid the debt off on any of the old carrds of 10 years ago. He always had collection companies calling him and sending him mailers though.

Not BS. Is what it is. Debt was forgiven in time. He didn't go to jail, he didn't have his bank or wages attached.. PERIOD! FACT!!

Which state does your friend live in?

JIBBBY · 01-09-23, 10:19 PM

Originally posted by BlueChip1100

Which state does your friend live in?

California!