I went bankrupt today

[NineOfClubs]

Corporate bankruptcies, 2008.

2008
A.F.C. Bournemouth
Allco Finance Group
Aloha Airlines
Amtrak Express Parcels
Apex Aircraft
ATA Airlines
Australian School of Business and Technology[55]
Bennigan's
Bill Heard Enterprises
Buffets, Inc.
Circuit City[note 20][56][57]
Coast Air
Commander Communications
Countrywide Financial
Dawahares
Dolcis
eos Airlines
FreshXpress
Frontier Airlines
Glitnir[note 21]
Gretna F.C.
Halifax Town A.F.C.
Harold's
Holley Performance Products[58]
IndyMac Bank
International Race of Champions
iQon Technologies
Kaupthing Bank[note 22]
Kaupthing Singer & Friedlander[note 23]
Krispy Kreme Hong Kong[59]
Landsbanki[note 24]
Lehman Brothers[note 25]
Lenox
Levitz Furniture[60]
Lillian Vernon
Linens 'n Things[61]
Luton Town F.C.
Madoff Investment Securities
Mattress Discounters[44]
Mervyns[57]
Meguro Sushi[62]
MFI Group
Montres Villemont[63][note 26]
Morgan UK[64]
Motorworld[65]
Nationwide Airlines
Oasis Hong Kong Airlines
The Officers Club[66][67]
Olan Mills[68]
Opes Prime
Peau Vavaʻu
Photo-Optix[69][note 27]
Pilgrim's Pride
RC Developments[70]
Rosebys
Rotherham United F.C.
Sanlu Group
Sharper Image[71]
Shoe Pavilion[72]
Silver State Helicopters
Silverjet
Skybus Airlines
Super Aguri F1[73]
Tai Lin Radio Service[74]
Tribune Company
Tropicana Resort & Casino
Tuctuc Ltd[75]
Tweeter[76]
U-Right[77][note 28]
USC[78]
Value City
VeraSun Energy
Vivitar
Wachovia
Washington Mutual
WCI Communities
Wickes Furniture
Wilsons Leather
WiQuest Communications
Woolworths Group
XL Airways UK
Yamato Life Insurance Company
Zavvi[79]
Ziff-Davis
Zoom Airlines
[edit]2009
3D Realms
A1 Grand Prix Operations[80]
AbitibiBowater
Allied Carpets
Apex Silver Mines
Arcandor
Babcock & Brown
Bashas'
BearingPoint
Berkhamsted Town F.C.
Borders UK
CIT Group
Boater's World
Colonial Bancgroup
Central Park Media
Charter Communications
Christian Lacroix[81]
Crabtree & Evelyn
Darlington F.C.
Denver Newspaper Agency
Empire Direct
Extended Stay Hotels
Escada
Filene's Basement
Fisher Athletic F.C.
Fleetwood Enterprises
FlyLAL
Fortunoff
General Growth Properties
Goody's Family Clothing
Gottschalks
Hartmarx
Idearc
Joe's
Journal Register Company
Karmann[82]
KB Toys
Land of Leather[83]
LDV Group Limited
FC Lyn Oslo
LyondellBasell
Märklin
Magna Entertainment Corp.
Merisant
Midway Games
Monaco Coach Corporation
Nortel Networks
Peanut Corporation of America
Philadelphia Media Holdings[84]
Qimonda
R. H. Donnelley
The Reader's Digest Association
Ritz Camera
SeeqPod
Setanta Sports
SETA Corporation
SFCG Co.
Silicon Graphics
Smurfit-Stone Container
Spansion
Spectrum Brands
SPV GmbH
SsangYong Motor Company [note 29][85]
Stanford Financial Group
Station Casinos
Steve & Barry's
Strathfield[86]
Stylo
Sun-Times Media Group
Taylor, Bean & Whitaker
Tronox
Trump Entertainment Resorts
Viyella
Cincinnati auto costoms
Waterford Wedgwood[87]
Young Broadcasting

 

[rareboy]

^ Yes.

And some of these losses showed up on my balance sheet as well.

And now boys.

Settle.

Back to topic.

I have to say that having come from a family where non-constructive (consumer) debt was anathema, I have to say that personal bankruptcy was always held over our heads as the worst type of failure you could experience.

I think there are many reasons why individuals can find themselves underwater, but poor choices in spending, spending beyond means and self-gratification seem to generally figure into the equation where catastrophic expenses aren't the reason.

 

[NineOfClubs]

But you haven't been there.

So what do you know about it?

 

[rareboy]

You obviously didn't read the earlier posts about being on the other side of someone's bankruptcy.

And it isn't the only one that I've seen or been a party to.

So yeah. I think I know something about it.

And, in fact it was the personal bankruptcy of a family friend when I was growing up that was used as a teaching moment about how not to use personal gratification and sloppy budgeting as an acceptable approach to life.

It was having someone in our office who was addicted to charging everything on cards because he had to have it now...and then walked away from a mountain of consumer debt that made me realize how easy it is for some people to think that everything is there for the taking.

It was a case of someone refusing to set aside a little money each month as a cushion for possible loss of income, but had monthly payments to make for rent, car, groceries and credit card debt....but who just had to have two weeks in the Caribbean every year and had to go to Europe and New York at least once a year that made me realize how optomistic some folks are.

It was a case of someone getting married and thinking that their incomes would surely buy them everything they wanted and that their parents would be there to help them that made me understand that some people really do deserve poverty.

And then there was the case of an American friend, whose savings and equity were obliterated by the staggering costs of health care for one of his kids. But who railed against socialized medicine and didn't have insurance to cover the costs.

And some of these people rebounded and became responsible and one that I can think of is heading toward his third personal bankruptcy when his restaurant goes tits up while he's spending like a whore on a holiday.

So yeah. Seen it.

I hope that Station gets it and is truly sobered by the experience. And I wish him the best of luck in the future.

 

[bluedragon4]

Says the guy who initiated the thread derailment by attempting to spread misinformation about me, making it about me, continuing to make it about me, and is still trying to make it about me.

It's all there for everyone to read, this is where you began:



Do everyone a favor and keep your obsession-fueled love-hate crush on me in MY threads, where it won't annoy the hell out of everybody.

The only thing you've managed to do here is demonstrate that you don't just suffer from financial immaturity...

WOW, lol. Let me get my shovel. And you were kicked off JUB. You came back. That isn't misinformation about you. It's fact. I am sure you will keep posting to me. You did start this not me. Guess that's how you have over 9,000 post since you joined THIS March. That alone is a huge LOL.

 

[Telstra]

illgetbi are you maryisalegend or karenwalker ?

 

[rareboy]

^ Nope. Illgetbi is quite unique.

 

[figjam]

I filed for bankruptcy last month, and today I went in with my attorney to attend the hearing. I'm now officially bankrupt.

I was a minor nervous nut going to the courthouse, but luckily I got to hear about 40 minutes of dialogue from other bankruptcy clients before my case was presented. It actually calmed me down, to hear other people's stories and reasons of why someone might go bankrupt.

My attorney was so awesome, and gave me the details as far as to compose and handle myself since general questions would come from the trustee. In the end all of my debts are now gone, and I'm justing for the final ok from the clerk.

It feels great to be debt free, get a second chance at starting over, and knowing all the money I'm making will be mine. I have learned to live on cash, establish a steady work history, and I only have the future ahead of me.

The sad thing is that this is going to happen to more and more companies and people. My own company has been laying off people and cutting salaries. The doom-and-gloom gang says we are already f#$ked - the financial bailouts around the wolrd just bought us some artificial time since the same bad financial decision makers are still in charge. Let's hope not. I hope 2011 will be better...

 

[star-warrior]

We had plenty of telly programs in the UK about the effects of getting increasingly into debt several years ago. One notable one was the series "The Bank of Mum & Dad".

The BBC has a site where there is good advice about managing debt for this series - worth looking at.

http://www.bbc.co.uk/entertainment/bankofmumanddad/

 

[frankfrank]

The sad thing is that this is going to happen to more and more companies and people.

the financial bailouts around the wolrd just bought us some artificial time since the same bad financial decision makers are still in charge.

Actually, MORE of the people who tend to make the bad-and-worse decisions will be in charge in 2011. Complete laissez-faire deregulation is the worst of all possible worlds.

I actually know somebody who WANTS **ALL FIFTY** OF THESE LIBERTARIAN THINGS TO HAPPEN:

* I promise to end the war on drugs.
* I promise to abolish the Department of Energy.
* I promise to abolish all anti-trust laws.
* I promise to abolish the Federal Housing Administration.
* I promise to abolish the Federal National Mortgage Association (Fannie Mae).
* I promise to abolish the Federal Home Loan Mortgage Corporation (Freddy Mac).
* I promise to abolish the Government National Mortgage Association (Ginnie Mae).
* I promise to repeal the Fair Housing Act.
* I promise to abolish the Department of Housing and Urban Development.
* I promise to abolish the Federal Trade Commission.


* I promise to abolish the EPA.
* I promise to abolish the Corporation for Public Broadcasting.
* I promise to abolish the Department of Education.
* I promise to end federal funding and control of education.
* I promise to cease funding Head Start.
* I promise to cease funding the National School Lunch Program.
* I promise to repeal the federal minimum wage.
* I promise to repeal the National Labor Relations Act.
* I promise to repeal the PATRIOT ACT.
* I promise to abolish the Department of Homeland Security.

* I promise to abolish the TSA and return airport security to airports and airlines.
* I promise to repeal all federal gun regulations.
* I promise to abolish NASA.
* I promise to abolish the National Endowment for the Arts.
* I promise to abolish the National Endowment for the Humanities.
* I promise to end the wars in Iraq and Afghanistan.
* I promise to cease all drone attacks and covert activities.
* I promise to bring all U.S. troops home from foreign soil.
* I promise to close all foreign military bases.
* I promise to stop meddling in the affairs of other countries.

* I promise to limit the Department of Defense to actual defense.
* I promise to end all federal bailouts.
* I promise to stop funding the UN, World Bank, and IMF.
* I promise to end all foreign aid.
* I promise to end all farm subsidies.
* I promise to repeal all trade restrictions, import quotas, anti-dumping laws, and trade agreements.
* I promise to abolish the Equal Employment Opportunities Commission.
* I promise to repeal the Americans with Disabilities Act.
* I promise to repeal all Affirmative Action, minority set-asides, and public accommodations laws.
* I promise to repeal the Family and Medical Leave Act.

* I promise to cease funding Planned Parenthood.
* I promise to abolish the Department of Health and Human Services.
* I promise to repeal the Patient Protection and Affordable Care Act.
* I promise to end Medicare and Medicaid.
* I promise to end all federal funding and control of medicine and medical research.
* I promise to abolish the FDA.
* I promise to abolish NPR.
* I promise to abolish the Department of Labor.
* I promise to cease funding any scientific research on climate change.
* I promise to end the FED.

I went through the list, and I can see agreeing with SIXTEEN of these things. But to do all fifty? I don't even want to think about living in the HELLHOLE that would be created, if everything that he wants were to come true. I would rather live in Somalia, I think.

 

[vulgar_newcomer]

So.....instead of getting another job and working on payment arrangements you chose to go bankrupt.

I really hope the people who lent you the money don't do the same.

And I hope you have learned a lesson.

This is the kind of asshole shit I was talking about. No shortage of these pompous know it all holier than thou types scumbags in the world.

 

[vulgar_newcomer]

As someone who took a $30,000 loss from someone going bankrupt, allow me to say that it hurts on the other side of the equation too.

Hopefully you will remember this the next time around.

Ah, this is very true as well. Thats a hard hit!

 

[vulgar_newcomer]

people should learn not to use credit cards if they don't have any savings.

Or smell between a mans toes and wonder what shit smells like on a person after they die.
Or need to know about smegma other than their own

 

[StationToStation]

thanks for all the support guys. it makes feel like you guys do care about me and or have empathy for me. thanks again.

i wanted to share a personal experience in my life, some are good, some are bad, and some i'm just glad they're over.

i'm not perfect, i'm flawed and working my way back up . . .hope to see you there

 

[LilBit]

thanks for all the support guys. it makes feel like you guys do care about me and or have empathy for me. thanks again.

i wanted to share a personal experience in my life, some are good, some are bad, and some i'm just glad they're over.

i'm not perfect, i'm flawed and working my way back up . . .hope to see you there

Aww, Bobbi. Li'l Bit doesn't give two shits about you.