We had to declare chapter 7 after caring for my mother in law for nearly 4 yrs. I could not work the entire time as she required 24/7 personal care, and it ate through all our 401k savings and we got into debt on top of it. With a clean slate 8 yrs ago we now stick very strictly to the 50/30/20 plan. I’m grateful bankruptcy exists in our country. We saved the gov’t over $325k by not admitting her to a nursing home for that time. We wrote off $85k. Seems like a fair trade.
BE THIS GUY over 1 year ago
Learn to budget.
James Deveney Premium Member over 1 year ago
I use it but I don’t pay any interest.
Grace Premium Member over 1 year ago
We had to declare chapter 7 after caring for my mother in law for nearly 4 yrs. I could not work the entire time as she required 24/7 personal care, and it ate through all our 401k savings and we got into debt on top of it. With a clean slate 8 yrs ago we now stick very strictly to the 50/30/20 plan. I’m grateful bankruptcy exists in our country. We saved the gov’t over $325k by not admitting her to a nursing home for that time. We wrote off $85k. Seems like a fair trade.