When Should I File Bankruptcy? - Dave Ramsey Rant

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[myballsitch]

A guy that filed for bankruptcy 2 times telling people not to do it. Filing for bankruptcy works which is why he filed twice

[jewlsfbarbie]

Filing for bankruptcy was the best move I made by a long shot. I wasnt about to pay $55, 000 worth of debt plus interest. I now see the fruits of my labor, able to work one job and actually enjoy the house I reaffirmed.

[jplmnoqrs]

I am 48 yrs old and deliver pizza for a living and have 20, 000 in debt. I am filing bankruptcy. I can't take this anymore.

[brando]

As an attorney practicing bankruptcy I have to say this is really bad advice. If you simply "not pay your debts for a little while longer" they will snowball and can end up as liens on your house which will kill your equity if/when you try to sell. There are plenty of really good reasons to file bankruptcy. The comparison with divorce is completely irrelevant and he gives no real reason for making the comparison. Sorry Dave, I like alot of your advice but this is terrible advice. Please talk to a bankruptcy attorney and then give people a real answer.

[markbrooksii]

I think why Dave is so against bankruptcy is because it's not part of his business model. Think about it... He sells and preaches get yourself out of debt using the baby steps. If everyone just did bankruptcy, he wouldn't be in business.

[jessegarcia]

If millionaires can several times way can’t we?

[TheRealAngelGrace]

Glad this video was about divorce rather than when to look at filing bankruptcy....

[emdf]

What a hypocrite. A supposed financial expert who filed bankruptcy. I’ve lost all respect for this joker.

[TheLuckyShepherd]

I now know more about when to file for divorce than bankruptcy after watching this video lol.

[mellowyellow]

Bad advice Dave
Everyones journey is different
I filed chapter 7
One of the best decision I made

[jcrowley]

Also, bankrupcy only works if you learn from it. Even if you are able to discharge everything, that means nothing if you go back to your old habits

[abseconPC]

I had one credit card which got out of hand I let it stew for about two-and-a-half years. In court I settled it for $1, 000 instead of 10, 000 and deletion from my credit report

[nicolestanford]

Dave filed bankruptcy. And then wrote a bunch of books and got boat loads of money. Think about how he got wealthy... he has used his failure testimony to make money. Theres nothing wrong with that at all but not everyone can do that. Just a point.

[ThisTall]

Unless I missed it, I don’t think he said he wishes he never filed bankruptcy himself.

[beerbreakfastman]

I just sat through four minutes and learned absolutely nothing

[narupickles]

I went for a BK 13. Best move in my life. I still end up doing 90 hour pay for two weeks but most of that pay went into my future and savings and being a landlord verse paying off my debt of $40k. I had $300 monthly for 3 years. Paid around $15k cause they also took my tax returns for 3 years.

I would tell everyone to go bankrupt and just be better with your money and start fresh. Work extra hours, spend less, make more and save what you don't use. I have no plan to have a credit card. Never used one since 2009 when I just stopped paying them. And my credit score went from 512 to 690 in 6 months with a secured loan of $2k. I put extra to cover the interest. Then the moment my credit score was enough to meet the qualifications to refinance for FHA loan, I paid it off. But I didn't get the loan, just to meet the requirements.

[TymerNetwork]

He never said Don’t file bankruptcy, he said “I am NOT going to tell you to file” be sure to do everything & some before you even think about doing it.

[Cahluvca]

He is spot on talking about keeping all the same debt and only getting rid of a small credit card debt

[abseconPC]

My friend got student loans discharged in bankruptcy by changing them over to another form of debt; a credit card and person loan

[danka]

Irs debt is dischargable as long as it's income taxes and it meets 3 basic time rules. Same goes for state income tax.