Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Can you answer this question about Bankruptcy? - Hi... live in Oregon... and some years ago United Airlines went bankrupt on 376,000 dollars of company stock we had and then bankrupted on my retirement... we were OK when the retirement was whole, but going after the retirement cut our income by 1200 dollars a month and sent us into a tail spin (LOL, that's airline talk).. I went back to work.. for a while and then changed companies... worked for 3 years and then got laid off. Been on unemployment and at 63, I have been applying for jobs, but the younger ones really need the jobs, so now we are faced with the delema of bankruptcy when the unemployment runs out... We have juggled our finances for the last year and payed all the bills on time and given every extra dime of the unemployment to pay down debt, We are about to go into bankruptcy having never missed a payment. Fico score in the 600's... crazy huh... some one said we can't go into bankruptcy without late payments to show we are struggling.. but our income without unemployment is 160.00 dollars a month more than our payments... that leaves $160.00 for food, drugs, medical and gas... The question is do we have to have bad debts to claim bankruptcy or can we just claim it when it is obvious that the income is far less than the outgo... We hope to keep the house. All the dreams we had for retirement are gone... By the way did I tell ya the execs at United gave themselves 150 mill in bonuses when they came out of bankruptcy for doing a good job... god bless capitalism... lol appreciate the help... down and out. -
