Obama's Economy

Have you ever declared bankruptcy? Tell me your story i’m considering it…?

How did you know u were in way over your head? how did you do it? were you able to keep anything at all? (i’d like to keep my car, phone, and possibly one card that i use only to pay tuition and pay off every quarter as soon as my tuition reimbursement check comes in) How was life after? Were you relieved? Miserable? Why?
how does it mess you up? just when you are trying to buy something like a house, car? or if you want a credit card or loan?
i dont go out anywhere now i always have to stay home. i work 2 jobs and every penny goes to these bills i barely have enough money after to put gas in my car. haven’t been to the grocery store in months. haven’t bought anything for myself in over a year and a half..

I never did, but I had two friends who did.

One friend was in $30,000 credit card debt before she got married. They chose bankruptcy and got all $30,000 removed. They were still able to buy their house and cars, but at high interest rates, which they refinanced when their credit got better. They stay away from credit cards now altogether.

The other friend filed for bankruptcy when he got sued (car accident) and his insurance didn’t pay. His credit was already screwed due to a divorce. He filed for bankruptcy, and still was able to get an 80/20 mortgage (high interest rate).

Turnaround: How Carlos Ghosn Rescued Nissan $2.98 Not since the days of Lee Iacocca at Chrysler has an auto executive captured the imagination of his industry and the broader business world as Carlos Ghosn of Nissan. Ghosn is responsible for one of the most breathtaking business turnarounds of all time – taking the near-fatally wounded Japanese car manufacturer Nissan from the brink of ruin back to profitability in just two years. His achievement…