thats how it used to be, now the BK laws have changed bigtime.
yes i am one of the ones who filed for BK. no i wasnt living beyond our means at all. my wife and i both had our own businesses and were doing outstanding. I owned a computer sales and repair business she owned a home daycare. she brought in over 5k per month in 1999 (for that year that is really good) and when people found out we were transfering (i was in the navy stationed in maryland) the following year they didnt want to put their kids with her because they wanted someone who was going to be there for a few years. so she went from making over 5k per month to us operating in the red for the last year of her daycare. well i was also thrown for a loop with my business. i was selling out of a flea market... shut the hell up i made some serious money. anyway, the owners son in law also sold computer stuff but his was second and third hand. mine was brand new and i backed up everything i sold. well after i used my personal credit i built up my inventory in anticipation of the great sales i was making just to be told by the owner i had to leave because they were shutting down the area i had my store at and there was no longer room for me. yes very slick but anyway so here i am with almost 100k of inventory that i should have been able to sell at the flea market which ended up sitting losing value and losing value fast. anyone who knows the computer industry it changes extremely fast so you have to sell what you have quick or you wont make a thing. anyway, after i lost all the value and basically had to give the stuff away i was forced to use my navy income to make the payments on the credit i owed for the inventory. no problem since i figured out the payments before i bought the inventory i knew with what i made in the navy i could make the payments. well i got hurt and got hurt bad. the navy let me go and i had no choice but to claim BK. does this make me a shitty person? was i living beyond my means? no, i did everything right which is what ended up being what hurt me because the owner of the flea markets son in law was ripping people off selling them broken crap and not honoring it while i sold brand new stuff and honored any problems that came up. i spent many hours at peoples houses fixing computer problems they self inflicted and dint charge them anything because i backed up what i sold.
you tell me, was my filing BK my fault or just a victim of bad things happening to good people?
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