Archive for Sunday, March 23, 2008

Bankruptcies

March 23, 2008

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Douglas County residents or businesses filing for bankruptcy protection during the week ended Thursday in U.S. Bankruptcy Court in the District of Kansas, according to court records:

¢ Michael Warren Evans, 2732 Maverick Lane, Lawrence.

¢ Gary Lee Crowe and Julie Ann Crowe, 2701 Fenwick Road, Lawrence.

¢ Mark A. Johnston, 3450 Morning Dove Circle, Lawrence.

¢ Jason Matthew Brey and Jennifer Michelle Brey, formerly known as Jennifer Michelle LaTessa, 3323 Iowa, Lot 580, Lawrence.

¢ Joshua Douglas Fraser and Molly Shalaine Fraser, formerly known as Molly Shalaine Price, 1652 E. 800 Road, Lawrence.

¢ John Edson Myer and Onita Myer, 2730 Ponderosa, Lawrence.

¢ Leslie Lee Regnier and June Elizabeth Regnier, 2301 Atchison Ave., Lawrence.

¢ Gregory John Davison and Sandra Lynn Davison, 608 Easy Court, Lawrence.

¢ John Lee Gomel and Tiffany Marie Gomel, formerly known as Tiffany Marie Zacher, P.O. Box 20, Lecompton.

¢ Victor Mckinley Washburn, 1007 1/2 Mass., Apt. A, Lawrence.

¢ Virginia Eileen Sipes, 2212 Greenbrier Drive, Lawrence.

Comments

toefungus 7 years, 2 months ago

This list seems to get longer each week.

gr 7 years, 2 months ago

As if they aren't embarrassed enough for spending more than they make, for buying houses they aren't qualified to buy, let's list their names in the paper.

cowboy 7 years, 2 months ago

lose a job , have a major medical event , and yes be irresponsible and you'll be on the list too. I went thru the bust in the early 80's and knew alot of people who couldn't sell their homes and the banks wouldn't even take them back in colorado as the oil and tech sectors went down for a few years. This one seems alot deeper and broader and can only get worse. watch your food costs eat away at any extra income you have , feed costs are going up at 25% clips a week right now and that will only get passed on . Scary !

mulitdisciplinary 7 years, 2 months ago

Don't let your house insurance lapse, it bites you back long term, if you can get coverage at all.

Sigmund 7 years, 2 months ago

And don't forget, student loans are generally not discharged in Bankruptcy. You think the Government would guarantee your loan and then let you off the hook? Nope, that is for suckers like banks and credit card companies!

misseve 7 years, 2 months ago

Yes and I'm sure all this wonderful advice is coming from people who have NEVER known what it was like to "rob Peter to pay Paul". I love all some of you are quick to say get your spending under control. I know what its like to have the same funky wages and see all the basic living cost go up like crazy. its stupid to post their name so people like you can pass judgment. Shame on you...

misseve 7 years, 2 months ago

I think that most people fail to realize that its just not credit card debt or getting homes they cant afford. We don't know why these folks are filing but i KNOW what its like to put off medical procedures because your insurance wont cover it. I just think it is bad enough these folks have to go this route but to have it in the paper for others who have no clue pass judgment is terrible. I don't know about you but i really don't care to know who filed for bankruptcy.

misseve 7 years, 2 months ago

I think there is a great place for your advice off... I am sure its labeled exit only.

You offer advice and have no idea why these persons are filing... IF it were you I am sure you would be none to happy with the advice as you call it from someone like you. Just remember that before typing yet another stupid bit of advice. Not everyone is spending out of control. Not everyone is driving expensive cars and trucks.

Judgmental people suck.

mulitdisciplinary 7 years, 2 months ago

misseve (Anonymous) says:

Yes and I'm sure all this wonderful advice is coming from people who have NEVER known what it was like to "rob Peter to pay Paul". I love all some of you are quick to say get your spending under control. I know what its like to have the same funky wages and see all the basic living cost go up like crazy. its stupid to post their name so people like you can pass judgment. Shame on you:


I don't think any of the posts were meant that way.Most of them are showing feelings for those in trouble, making note that things are just going to get worse, and offering helpful hints to those facing financial problems. Being sure they know things that a bankruptcy lawyer might forget to tell them. Fallout. (PS, I forgot to point out that a bankrupcy NEVER EVER goes away. Sure it's supposed to, but the world has internet, and once you've done it nowadays, you're ON THE LIST! Forever.)

The posts all sounded good for those who are getting to the break point. I do think if people will quit posting on here, far fewer people will be drawn to read it off of the "discussions" list.

Godot 7 years, 2 months ago

Sigmund wrote: "You think the Government would guarantee your loan and then let you off the hook?"

Yes, if you are Bear Stearns or JP Morgan and if your losses are the result of your own malfeasance and outright fraud. Then .gov will let you off the hook to the tune of billions of dollars. You have to be really big to be worthy of a government bailout, big enough that you will take down others with you if you fail.

As for the little folks, they will fail, and no one will care, because, if they do, the institutions and their investors to whom they owe money will cry foul and BP (Bernanke & Paulson) will break any law to make them whole with taxpayer dollars.

Godot 7 years, 2 months ago

multidisciplinary has it right; if you ever declare BK, it will be there forever.

Big financial institutions, those dubbed "primary dealers" by the Fed, who are in much worse financial condition than the folk who declared bankruptcy, will never face bankruptcy; they will simply be "restructured" by the Fed, with their worthless debts being transferred to the taxpayers at inflated value, at nearly zero interest.

As a conservative, I am utterly flabbergasted and opposed to the way the government is managing this mortgage fiasco. The fed has created an inverse domino effect. The little dominoes, the homeowners, will be allowed to fall to the point that they threaten to tip the bigger ones, and the government will do nothing to help them because they should be responsible for their own actions. Right? But let the number of failing mortgages reach the point that they threaten the solvency of the big financial institutions who lent the money to these folks when it was crystal clear that they would not be able to pay in the first place, and the fed comes in and puts up a big taxpayer funded wedge between the bankrupt homeowners and the banks and hedge funds to protect those who engineered the fraud so that they are saved and even make more profit, while the homeowners who were unwitting participants in the fraud, are thrown to the wolves.

This stinks. This is what happens when .gov abdicates its role as limited business regulator and takes on the role of unlimited business advocate - with unlimited funding, thanks to its ability to tax all of us without end.

Godot 7 years, 2 months ago

It is not the governments place to save anyone from foreclosure unless you are a Primary Depositor. Google it.

gr 7 years, 2 months ago

I don't know about the others, but 10 to 1 that little miss eve is one who's spending is way out of control. And she is very sensitive towards anyone if she thinks they are suggesting that she curbs her desires. How dare they!

While a hospital charge would do someone in as if you don't have insurance they jack the price way up and either way, they just make up any charge they want since their spending is usually out of control, too, those with credit card debt are much like the obese people in an opposite way, but a similar problem. Their outputs are greater than their inputs.

As the obese people get all huffy if someone dares tell them to pull away from their feeding trough, so the spending people get bent out of shape if you tell them to pull away from their spending trough. And that definitely includes the government!

If you are in debt spending 18% interest, think of all that money you are completely wasting! How is that helpful? If you spend less than you make, live in a smaller house, drive a cheaper car, spend only for the bare necessities and not desires, then all that interest you are throwing down the drain and making sleaze-ball credit card companies rich would go to your desires when you get out of debt.

While people may not have respect for their finances, it doesn't mean they don't have respect for their bodies. However, I have yet to see someone who has no respect for their body who does have respect for their finances. Therefore, it's not absolute, but just a hunch that little miss eve is overweight, too.

It just comes down to, 'I have a desire. I will act upon that desire. No one should tell me to stop.' With finances, if you should curb your spending spree desire for a short time, then you will have way more for when you get your spending under control.

I'm sure some will respond back that I just don't understand, blah, blah, blah. But, just like the obese people who "say" they eat healthy but refuse to specify just what and how much they do eat, the debtors (slaves) will likewise refuse to say what they are spending on.

Godot 7 years, 2 months ago

It is a shame that our country has devolved to the point that the citizens and the corporations expect, even demand, that the government and taxpayers bail them out when they make bad choices. I do not feel sorry for people who file bankruptcy unless it is due to some catastrophe; and I definitely do not think that any business, no matter how large it is, deserves a government bail out to keep it from failing.

Ceallach 7 years, 2 months ago

Note to self, if you file for bankruptcy, do it out of town.

estespark 7 years, 2 months ago

Agreed Go. Corporations privatize their gains and socialize losses. Who can blame them - it's the system.

compmd 7 years, 2 months ago

misseve,

Bankruptcy filings are public record. Printing the names and addresses of those who have filed for bankruptcy is actually required of a newspaper local to those people.

If you don't like it reading a list of bankruptcy filings, don't read it.

hail2oldku 7 years, 2 months ago

There are various reasons that can lead to someone filing for bankruptcy and any of us could fall "victim" from just one adverse event.

Having said that, I didn't read the earlier comments as being judgemental but rather suggestions on how to save money now in order to stave off the need for bankruptcy in the future.

As for the current mortgage fiasco, there is plenty of blame to go around on this one. The pressure that originators receive from both inside and outside (see real estate agents) to get loans produced is incredible. I don't know how many times I po'ed my boss when I was a loan officer because I would actually counsel my customers to think about their options - ie your qualifications indicate that you are eligible for a loan of $$$ with a payment of $XXX/month, but only you know whether or not you are comfortable paying that monthly - or here is your initial payment amount and this is the worst case payment when your loan adjusts in three years and then again yearly after that.

Once the customer has that information, which they should take upon themselves to figure out if not discussed otherwise, it becomes their responsibility to figure out if they can handle the payments.

I could go on and on about this mess, but will pass for now at least.

In short though foreclosure while it may be the primary cause right now is not the only cause of bankruptcy.

gr 7 years, 2 months ago

"Drunk on power and high on the spirits of competition,"

Speaking of drunk, what you are saying Agnostick, is no better than drunks blaming the liquor store for their sorry state, drug users blaming Mexico, obese people blaming Nabisco. Just because something is offered, doesn't mean one must partake. (By the way, obesity is relevant and related. Find an obese person who DOESN'T also mismanage their money.)

Otherwise, one could always find someone to blame their poor choices on. Oh wait, I guess that's what many people seem to think and do!

misseve 7 years, 2 months ago

gr (Anonymous) says:

I don't know about the others, but 10 to 1 that little miss eve is one who's spending is way out of control. And she is very sensitive towards anyone if she thinks they are suggesting that she curbs her desires. How dare they!

you sir are a dumb a$$! Once again you open your mouth and have no idea what the F you are talking about. I feel for them because as a kid my mom with through this. Her ex didnt pay the bills that he was ordered and SHE got garnished, SHE was the one who barely had enough to pay the rent of feed me and my siblings. NO ONE and i mean NO ONE bothered to help her. i remember her crying at night and praying for a way to make sure we were all ok. SO once again you have NO right or reason to spout the crap you do without knowing WHY these folks are in the situation they are. As for me i don't have credit cards. Don't need them. I wonder how much spending you have out there... Are you spending money like The former Gov. Spitzer? Drive an SUV? Have a sub-prime Mortgage? Have more plastic in your wallet than cash? He who is without sin, throw the first stone.

gr 7 years, 2 months ago

"I challenge you to show me such a post."

Huh? On a rant?

================

Miss eve, I think I allowed for tragedy. I'm sorry your mom got stuck with someone else's debt. Sure, it does happen and there are those who go bankrupt because of it. But, that's not what the news is about nor is what is happening in "most" cases as has been said by others. So taking a specific instance and generalizing it, especially in the light of the present times, is dishonest. What you accuse me of is what "most" of those who are declaring bankruptcy ARE doing.

gr 7 years, 2 months ago

"News article? Anecdote? Statistics? Research?"

Yes, haven't you been following the news? It's everywhere and the reason that most people have been going bankrupt.

Follow your own advice.

BrianR 7 years, 2 months ago

The truth is, none of you "know" what happened with these people's finances, you're being judgemental and employing a lot of guesswork.

If you've never faced financial ruin, go to a mirror, look at your reflection and say, "There but for the grace of God go I" and be thankful.

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