Posted by JD Seller on January 14, 2014 at 05:31:13 from (208.126.196.144):
In Reply to: thought for today.... posted by samn40 on January 14, 2014 at 00:34:48:
They get their cut up front.
Strikes me as funny how someone that can not pay their bills can come up with $1000-2500 to pay their lawyer.
Short term lenders like to loan to people that are just out of bankruptcy. They know they have 10 years to hassle the borrower.
My lawyer told me to file in the late 1980s. He said I would be money ahead since the land we had bought had lost value. The Chapter 12 rules where that our debts would have been written down to the current valve and then we would pay that over the same loan length.
I did not file. Many of the fellows my age that did have a new house and are better off than I am.
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