The following is a fictitious scenario:Year 2005: Jeff, Controller never thought he would settle in California, but the politics start here, the best athletes are from here, the fashions are ahead of everyone else's. Everyone knows the major cities from rap: Frisco for San Francisco, Sacto for Sacramento, Oaktown for Oakland. People judge based on area code, and if asked where they're from, they give their area code. 2 hour commute from the 831 to the 650, but the commute is an excuse when late. To some, Jeff's life is perfect. The office is walking distance from a pool, East West Bookstore, and ethnic foods (Vietnamese, Greek, Mexican...). Silicon Valley is where the money is. Save on groceries - free snacks, sodas, lunches. Save on water - free showers, gyms. Save on tickets - free parking. In other places, the best you may get is a filtered water cooler with little paper cups.
Year 2009: Jeff was shown the door when after returning from lunch. Jay, his manager, discussed ridding him all day behind closed doors, but pretended there was nothing happening when he asked Receptionist to help on one of his quarterly goals, when he expensed a training course. Jay read from a script and left on the guise that he had to take care of personal business so he would not need to say anything further to Jeff. Before the meeting, Jay instructed IT Manager to take Jeff's computer away so it would be gone by the time he returned to his desk. Facilities Manager wouldn't let him take his personal things, afraid that he would steal confidential information. She would not let him sit at his desk to read the exit paperwork. She treated Jeff like he stole something, and rushed him out the door.
One common reason for filing personal bankruptcies is unemployment. There is no need to be upset at having to file bankruptcy. The true nature of the universe is that it is undetermined. Real oppression occurs not from people who fight in courts, but unawareness that destroys peace of mind during time limited uncomfortable situations.
It is okay to file bankruptcy to get a discharge, which is a court order stating the debtor does not have to pay his/her debts. A Chapter 7 discharge may be sought once every eight years. However, not all debts can be discharged. For example, the following debts may not get discharged:
• Taxes
• Child support
• Alimony
• Student loans
• Court fines and criminal restitution
• Personal injury caused by drunk driving or drugs influence
Discharge applies to debts that arise before the date the bankruptcy petition is filed. It is important to list all debts and property in bankruptcy schedules. Do not do anything dishonest in connection with a bankruptcy case like hide property, falsify records, or lie when under oath.
Discharged debts do not need to be paid. Even if a debt can be discharged, a debtor may want to work out a plan to pay it. For example, someone may want to keep his car so he wants to pay off the loan. To promise to pay a debt, the debtor signs a reaffirmation agreement with the court. If the debtor later defaults on the reaffirmed debt, the debtor owes the debt as though there was no bankruptcy, and the debt will not be considered discharged. The creditor can take legal action to recover a judgment.
Turn to a responsive bankruptcy attorney for straight answers on discharging debt.
