There have been a lot of comments on this forum criticizing people for being on government assistance, living with parents, etc. What irks me is the people with good jobs that have totally mismanaged their finances, bought recklessly, and then bailed out. I'm going to rack up $70,000 in debt, live in a $350,000 house and then have it wiped clean when I realize I can't afford it anymore. If I learned from the experience that would be one thing, but I know people that are right back in the same position just a few years after declaring bankruptcy.  
 
Nobody deserves anything that they can't afford to pay cash for.

Stiffer consequences the second time around? I thought I heard that somewhere.

I need my medication, that I can't afford to pay cash for every month, as it is very expensive, how should I pay for it? From a person who lives paycheck to paycheck and hopes something serious does not come up, that will cost me money.

Brenda, I think you are just angry.  
 
By the way, if you can't afford your own medication then maybe you should sacrifice the computer and internet. Hardly a necessity.

I wasn't talking about people paying for necessary items, if you read my original post you will see. I was talking about living in a fancy house that you can't afford and racking up debt buying snowmobiles, plasma tvs, boats, etc. then declaring bankruptcy only to repeat the same behaviour as soon as you get credit back.

I am realistic - everybody does not have great paying jobs, lots of people struggle, you just seem to think everything is so easy, I am just looking at the other side of the coin. I have known people who were very well off and had all of that, only to have something happen (not by their doing), to force them to have to declare bankrupcy. Just like the rent thread....it is easy to say save up 5% and buy a house, well in reality you need more than 5% to get your foot in the door. Just trying to justify why it can be hard for some people.  
 
 
 
There are always different sides to opinions and I am just trying to show the other side. I wish everyone could work hard and have all they ever wanted, but it does not always work that way.  
 

that would be a different situation from the one I described. Bankruptcy needs to be available for those that really need it, but I feel it is abused in some cases. Once again I will stress.. I was talking about people that don't learn from their mistakes, and are of the misguided belief that they are entitled to everything.

in your original post you said - "Nobody deserves anything that they can't afford to pay cash for." end quote. I believe that was the point Brenda was trying to make. This could be an interesting thread without all the sniping.

Leanne D. said "in your original post you said - "Nobody deserves anything that they can't afford to pay cash for." end quote. I believe that was the point Brenda was trying to make. This could be an interesting thread without all the sniping. "

exactly what I was referring to.

stand by what I said. If you can't afford something, you don't DESERVE it. If you make the choice to buy something on credit, you had better have a plan. If you are living beyond your means, then sacrifices need to be made. Cell phones, computers, cable tv and new vehicles are not necessities of life.

Now lets not be so cruel...We ive in a country that our father/grandfather fought for these freedoms. it's not exactly billions of dollers here in this city. Please...hummm maybe Walmart...

was that nurplesque wasn't saying you don't deserve necessities, everybody deserves those. But I think the no one deserves to having things they can't pay cash for was about luxury items, which I totally agree with. If you can't afford to pay for it with cash, then don't put it on a credit card and get yourself in trouble down the road, not fair for everyone else to have to bail you out!  
 
Brenda just for you: not saying that against medication, thats a necessity and obviously if you need to go on meds you need to do what you have to in order to take it!

does it matter that much to you that they've declared bankruptsy twice? Is it taking food off your table and costing you money and effecting your credit?  
We seem to have this attitude in society now, that what anyone else does is or ought to be public buisness. Why do you see it as your job to 'educate' them on how they ought to be living? HOw about to each their own, its not harming you, if they choose to keep making mistakes its their choice.

Nurplesque said "I wasn't talking about people paying for necessary items, if you read my original post you will see. I was talking about living in a fancy house that you can't afford and racking up debt buying snowmobiles, plasma tvs, boats, etc. then declaring bankruptcy only to repeat the same behaviour as soon as you get credit back. "

It's usually the people that like to put a show on for here friends and family that go tits up...people that live within their means are pretty safe,if ya don't got it,don't spend it..  
 
When we were out at Calgary at christmas,lots of houses and trucks,boats,etc being sold by the bank..young couples living in a $500.000.00 house,two new vehicles,living high on the hog,then they find out there payments are twice as much as they make a month..Duh..

Nurplesque said "There have been a lot of comments on this forum criticizing people for being on government assistance, living with parents, etc. What irks me is the people with good jobs that have totally mismanaged their finances, bought recklessly, and then bailed out. I'm going to rack up $70,000 in debt, live in a $350,000 house and then have it wiped clean when I realize I can't afford it anymore. If I learned from the experience that would be one thing, but I know people that are right back in the same position just a few years after declaring bankruptcy.     Nobody deserves anything that they can't afford to pay cash for. "

jealous that others have the advantage to have nice houses, cars, toys etc? Just b/c someone claims bankruptcy doesn't mean that they intended for their lives to turn sour. They may have had good jobs, great credit and purchased things that was affordable to them ON CREDIT. Then life hands them a bad deal and now they are stuck and have to claim bankruptcy. If you judge a person b/c of this then I feel the person judging is either jealous or ignorant. Either way it's a horrible message to relay. PS When you claim bankruptcy, you don't get to keep the luxuries of your past and your credit is fubar for 7 years 1st time around 14 the second, and I don't believe you get a 3rd. So if you can't "pull" it together by then, your next step is a box under a bridge.

Tracy said "does it matter that much to you that they've declared bankruptsy twice? Is it taking food off your table and costing you money and effecting your credit?   We seem to have this attitude in society now, that what anyone else does is or ought to be public buisness. Why do you see it as your job to 'educate' them on how they ought to be living? HOw about to each their own, its not harming you, if they choose to keep making mistakes its their choice. "

Who do you think ends up paying? I am a taxpayer. A LOT of tax, by the way.

the government doesn't bail out your loans and finances, when you file a chapter seven bankruptcy (meaning i believe that it takes care of all if not most of your debts) your creditor has to essentially just walk away from the debt and doesn't have a very good chance of recovery (from you, not the government). So no, i really don't see how that costs tax payers much of anything. It does cause the banks to be less likely to give out loans, or they will ammend their requirements if enough people file bankruptcy under them, but the government and taxpayers don't pay off the loans.  
(and for the record, i've never file bankruptcy but i can read, and looked into it before posting)

Not for many years, honey. I have everything I could ever want, and guess what... It's ALL paid for. If something drastic happened, it can all be sold because WE OWN IT.

You say this  
 
"Nobody deserves anything that they can't afford to pay cash for"  
 
While you do make some very valid points, I do agree with you on some don't get me wrong but have you never had to get a loan for a house or a car? Can't say I know anyone who has that type of cash sitting around.

we had a mortgage. We were approved for a ridiculously high mortgage, something like $700,000. We bought an $80,000 house, which we were able to pay off in only a few years.  
 
Our vehicles have always been bought outright, because we do not buy new ones. I drive a $3,000 car that runs beautifully, and is anything but a status symbol.  
 
We live well below our means. Our children will have their education paid for, and we will not have to worry about retirement.  

We pay bankruptcy.  
http://financialdimensions.org/tax/whopays.html  
 
The Interwebs told me so, it must be true!

I wasn't going to bother arguing with her. Lol.

I guess your one of the lucky ones Nurplesque. Bravo

Not taxes, but others who take out loans from the same institutions, (as i mentioned in my previous post, the banks and such will ammend their borrowing agreements and may charge a higher interest rate, or make borrowing more difficult) But they don't get government taxpayers dollars to cover the amounts lost by bankruptcy.

I'm a tax payer, I pay interest, I pay off bankruptcy's. So a tax payer would be paying it off. See I can twist words too!  
 
I is a professional interwebber.

Bluto said "I guess your one of the lucky ones Nurplesque. Bravo "

I have worked full time since 1980, my husband has worked full time too. We have a wartime house (the bank still owns), two used vehicles (the bank owns mine), never have taken a trip anywhere outside of Canada, we don't drink, we don't have every cable channel available, we don't have the fancy phones with all the extra features, do not have cell phones. We live pay check to pay check, and it's a good thing hubby is very handy around the house and can do repairs when needed. His diabetic medication is very expensive each month, as are my meds. But we have each other and our families, and that is the most important thing in life, to have each other! Everything else is just stuff.

What are you worried about? You are not one of the people that is putting on a show and not learning from your mistakes.  
 
By the way, it has nothing to do with being fortunate or lucky. I had to fight for everything I have. I was a teenage mother with nothing. I worked full time evenings to get my degree and support my first child. I have earned everything I have.

wifes name ie Peter Puck

that's cute.

pay taxes, and you pay interest. It's not the same thing. My point is that taxes are NOT paying for bankrupcy filings, its the interest rates that do that. Being a tax payer has nothing to do with it. its not a twist of words, its kind of a fact, lol. Fine get upset about banking at a place that charges you more interest because others have filed bankruptcy, but don't claim you have a right to get after them because you are a tax payer.  
You have a choice to not deal with those banks, you don't have to take out a loan, so no i still don't think it means its your buisness if others file bankruptcy.