Tag Archives: bank of america

Being Bankrupt

I am swiftly turning into a detestable human being.  I have admitted already on this blog that I have not only known nudists in my lifetime, but I have recently visited a nudist park and become one… for a few hours.   Today I am admitting to being a bankrupt individual.  I am taking steps to declare a Chapter 13 Bankruptcy.

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As with nudism, bankruptcy is really probably not what you think it is.  It is embarrassing and stressful to be bankrupt, at least if you are not Donald Trump and able to gleefully rob workers and creditors and investors by manipulating bankruptcy laws.  But it is not immoral.  In fact, with my Chapter 13 bankruptcy, I will end up paying back everything I owe to credit card companies and especially Bank of America whose lawsuit caused this bankruptcy.  It will just be a managed pay-off with no further interest charges, managed by a court-appointed executor over the next five years.  It will drop the bottom out of my credit rating initially, but may actually bounce it back up better than it was because my debt-to-income ratio will be dramatically improved.  I will not lose my house or my car.  I simply will have no more credit cards.  That can’t be all bad, can it?

powell

So, filing for a bankruptcy of this type has done a good job of teaching me where I fit in modern society and how the idea that you need to pay back what you owe to those you owe it to applies more to me than it does to rich folks.  I will let you in on a big secret.  I am not now, nor have I ever been, even remotely defined as rich.  I haven’t really been poor before now, either.  But I am sinking into that swamp quickly, and the crocodiles smell blood in the water.  It is expensive to become poor.  You have to pay a lawyer to help you get rid of all your money.  You have to plead with them to allow you to continue to buy food and, with luck, necessary medication.  But as long as you continue to hemorrhage money into their money-sucking vampire fangs of profit-making, the rich ones who own everything and control everything and make all the laws will allow you to continue to live… unless it becomes more profitable for them in the short term to let you die.

bankrupt-city

Now that I have driven over the bankruptcy cliff, I will probably try to enjoy the view and the exhilarating rush of air on the way down.  Maybe I will do it naked.  I could go back to the nudist park for the Labor Day weekend.  I would save on clothing budgets.  And when I get to the bottom of the cliff, there is a possibility that I will bounce back up.  After all, if I don’t the bankers and the lawyers won’t be able to get any more of my money.

 

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A Day for Battling Monsters

Long John Silver

Today I must see a lawyer about preventing Bank of America from taking all the money in my accounts and seizing some of my non-exempt assets… which may or may not include my house and car.  And all of this basically for unpaid interest payments.  Yes, I had the account maxed out for a few years, paying only minimums.  So I have basically paid back more  money than I spent, but they intend to collect more than merely the unpaid amount.  The lawyer I am going to consult says they are gambling that I won’t hire a lawyer and fight it.  So he is either going to be a great help, or another bloodsucker draining my resources.  We shall have to see.  But in this modern world where everything is about debt… debt they don’t really want you to pay off, sometimes you have to roll up your pant legs and wade through the sea of shallow cow poop.  If I fail to win this fight, I may end up bankrupt and homeless, so it is pretty important that I take on the beast.  It will be something more to laugh about in any case… in the future when the wounds heal.

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