So having no job and making no money to pay bills and make mortgage payments isn't necessarily a factor in having to file bankruptcy? What state you live in? State of Confusion?
I said it's not necessarily a factor, it does happen. Having no job to pay for your mortgage payments causes reposession by the bank, not paying your bills means you get cut off. Bankruptcy is caused by accumulated debt; when all of your assets are liquidated and you still owe money, that is a sure sign of bankruptcy. For example, you borrow $100,000 from the bank to buy a house. Your mortgage payments are set in a fixed rate of 4.07% with payments of $1043.57 per month. If you ever lose your job and can't make the payments you will get an eviction notice from the bank, since your collateral is the house. If it's still worth a $100,000 you're fine, the bank recuperates her investment and everybody goes home happy, except you. If the house is worth less due to a declining market, you're fucked. That is bankruptcy, you have an accumulated debt worth the difference between current value and initial value plus interest. It's easy to make assumptions if you don't understand the issues. So to recap, not paying bills does not get you bankrupt; it gets you cut-off, not making mortgage payments does not necessarily get you bankrupt; altough it can depending on the situation and the market.
You obviously don't read real well, fucknuts. If you have no income and you have bills to pay (mortgage, car payment among others). you are more then likely going to have to file for bankruptcy protection. You're pretty confident that you know it all aren't you. From Webster's Main Entry: bank·rupt Pronunciation: \ˈbaŋk-(ˌ)rəpt\ Function: noun Etymology: modification of Middle French & Old Italian; Middle French banqueroute bankruptcy, from Old Italian bancarotta, from banca bank + rotta broken, from Latin rupta, feminine of ruptus, past participle of rumpere to break — more at bank, reave Date: 1533 1 a : a person who has done any of the acts that by law entitle creditors to have his or her estate administered for their benefit b : a person judicially declared subject to having his or her estate administered under the bankrupt laws for the benefit of creditors c : a person who becomes insolvent Main Entry: in·sol·vent Pronunciation: \(ˌ)in-ˈsäl-vənt, -ˈsȯl-\ Function: adjective Date: 1591 1 a (1) : unable to pay debts as they fall due in the usual course of business (2) : having liabilities in excess of a reasonable market value of assets held b : insufficient to pay all debts <an insolvent estate> c : not up to a normal standard or complement Haven't you know figured out that most people's houses aren't worth what they paid for them because of the downturn. excuse me for not going into an overly long diatribe like you. I figured (incorrectly) that you would understand what was being written without going into the minute detail you so obviously need to comprehend things. Also, most medical institutes are willing to set up a payment plan so that they get at least some of their money before your dumb ass dies. dipshit.
Resorting to insults when unprovoked only weakens your position. In your definition it says that "unable to pay debts as they fall due in the usual course of business", which is exactly what I have been saying all along: accumulated debt is what causes bankruptcies, not necessarily unemployment; you can be unemployed and not have any debt, do homeless people go bankrupt? If a guy that rents an apartment, has no other financial obligations other than rent, power bill, gas bill, and phone bill; loses his job. He doesn't go bankrupt, he just gets evicted or cut-off from his utilities. That's what I've been trying to say all along, I said that sometimes unemployment is a factor but not always. So where do your attacks come from?
Yep Bull and the worse it gets the more liberals will scream for more government to fix the problem. They never step back to see that government IS the problem.
Oh right, right. The good 'ol "government is out to git ya" crowd. In Joe's utopia there is no government, people just do what's right out of the goodness of their heart. Isn't that right Joe? Your naivety is laughable, you really think that an industry such as banking where the sole motivating factor is greed, doesn't need oversight? I guess that an godless dog like yourself would prefer worshiping a dollar bill rather than God. But hey, even the Bible isn't good enough for conservatives is it not? Conservapedia is trying to change it. Can you believe it?!! Changing the Bible to fit your political purposes?!!! You scum deserve to burn in Hell for eternity. You fucking heathen traitor. Another quote from the Bible that favorises government: Select capable men from all the people--men who fear God, trustworthy men who hate dishonest gain--and appoint them as officials over thousands, hundreds, fifties and tens. (Exod 18.21, NIV) But you don't believe that do you? The Bible is bad is it not? You fucking scum.
