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[OhNo-Really]

This message was self-deleted by its author (OhNo-Really) on Sat Dec 10, 2022, 09:36 PM. When the original post in a discussion thread is self-deleted, the entire discussion thread is automatically locked so new replies cannot be posted.

[KPN]

1. Thx. Bookmarked for later.

[Xandric77]

2. Very informative

Recommended.

[corbettkroehler]

3. Warren And Sanders Rightly Decry Medical Bankruptcies - Let's Shove These Videos Down Cynics' Throat

Thanks for posting!

[Pepsidog]

4. As a consumer bankruptcy attorney, I recall Warren fighting hard against the Bankruptcy Reform Act

that was quite literally written by MBNA bank. I knew the fight was lost when the bills most ardent opponent Sen. Wellstone died in a plane crash. What a horrible night. I am seeing a significant increase in calls from clients seeking bankruptcy relief at the present time.

[OhNo-Really]

5. Oh dear. Not surprising.

The huge rise in Housing & automobiles costs alone are an attack on Americans.

Greed requires legislation to tame the worst instincts of humankind.

Shameful that tax lawyers & accountants are enriched by crafting schemes to rob America. I’ve worked with both.

Tax law is written by special interests period!

[Pepsidog]

7. Very true. I have the same feeling now as I did in 2006-2007. People are coming in with multiple

cards all maxed out using one to pay the other.

[blm]

8. I've been seeing signs, too.

Seems like a lot of older people are struggling. And young rural families.

[Skittles]

6. I am curious

what are the main reasons for the "significant increase" you are seeing now

I am betting medical costs is one of them?

[Pepsidog]

9. While medical costs are a major cause for filing bankruptcy, the uptick I am seeing is

irresponsible lending the banks. Clients are trying to carry $60-$70k in credit card debit and their incomes simply aren’t sufficient to cover the minimum payments. Then they are car repair or unpaid missed week of work from disaster. I will see filing related to medical costs later on due to lay-offs or job loss and people lose their medical coverage. The main reasons for filing I see at the moment are divorce, job lose and over-extended credit. The cost of living in NJ is high and most people live paycheck to paycheck. Even higher income earners over $250 a year are having difficulty. Lastly, the cost of medical insurance is outrageous. Most decent family plans in NJ will cost about $2,300 a month. For people who aren’t on employer sponsored plans it’s like a mortgage payment. Middle class needs immediate tax relief. I pay $17,000 just in property taxes to the State of NJ but because of Trump’s tax plan can only deduct $10k. Sorry for rambling but the tax system is a sham.

[Skittles]

10. aw no, ramble away

wasn't irresponsible lending a big factor in our recent great recession? And I hear you about medical insurance -and that cost doesn't even include the deductibles and co-pays - it is outrageous

[Pepsidog]

11. Banks did not learn their lesson from 2008. I'm sure we will see liar mortgage loans soon.

[OhNo-Really]

12. Um. Taxpayers Bailed Out The Banks

Lesson learned

The USA is about to be IMF’d

Can you say austerity?

[OhNo-Really]

13. Liar Loans. Is MERS still operating?

In my area, huge post-war like housing complexes have & continue to be built. Where does all that $$ come from? Chunks of the developments are for sale and listed on the MLS.

Your insights are very helpful Pepsidog

Thank you

[progressoid]

14. Bankruptcy Reform Act. Is that the shinning turd that Biden promoted?