Are JWs allowed to declare bankruptcy?? (page 2)

little witch

Now listen Kids, There are only so many windows to wash, and the price of windex is at an all time high! LW

changeling

While blondie posted the "official party line", here is my experience:

I know of people who declared banckrupcy "sticking it" to all their creditors, flaunted it openly in the congregation and thanked Jehovvah because this gave them the opportunity to be regular pioneers.

I know another couple who made a bad real estate deal, were unable to sell over a period of seven years so they declared banckrupcy. They only squelched on the real estate, they took back all their other debts. They did not make the desicion openly known but told the elders to ease their conscience. They husband was not even allowed to handle the mics in the meetings from that point on.

So, as with so many othere things, it depends on the person and the BOE.

changeling :)

WTWizard

They had better be. There is soon going to be a record surge in witless bankruptcy. With the gas prices what they are, renewed waste of paper distribution campaigns, admonition to quit full time work, no college, and the incessant demands to put money into the Worldwide Pedophile Defense Fund and into other theocraptic articles, there is going to be insufficient funds in their accounts.

And more debts.

StAnn

My ex-husband, an elder, and his wife, a pioneer, made a mistake and refinanced their home into a 10-year mortgage with very high payments when interests rates were really low. Then he lost his job and the new job he found paid only half of what his old job paid. They struggled for some time and finally filed bankruptcy. It was stupid of him to refinance into a 10-year mortgage when he could have refinanced into a 20-year and just paid extra on the principle, but hindsight is 20/20. It has not affected their standing at the KH and I don't think it should. It's not like 1975, when people were going massively into debt with no intention of ever paying it off.

StAnn

wha happened?

I agree that it's up to the BOE. My Partner is an elder and when we both filed, no one was even asked about details and everything carried on as usual

hillbilly

Yep.

While some folks "stick" it to creditors the Law makes it hard to do it often.

If you cant meet the means test for Chapter 7 the court will allow Chapter 13. Condensed... whatever disposable income you have will get paid to your creditors for 5 years. If the formula finds that you have $165 or more disposable income per month that money goes to your debts.

If you cant meet the $165 rule you may file Ch 7... your debts go away. You may affirm debts you wish to pay off.

You can file a 7 but if you file again it will be a 13... and you have to wait 5 (7?) years to do that.

People who really want to stick it ... they set up LLC ... title stuff in kids names ... using all sorts of tricks , they have a plan to steal.

For the rest of us it's a good way to work out of the hole when the best of plans go wrong.

Jeff

wha happened?

I did a chapter 7 right b4 the laws changed. I had to give up all rights to the remainder of the estate the ex and I were battling over. If I didn't, I would not be protected as my income had increased and I would have paid out in a chapter 13 anyways. This way it just cleared alot of drama out of my life.

It's 8 years now to file again. Not that I ever hope to be in that position again

navytownroger

Thanks for all the great comments. I agree that there can be legitimate reasons for people to file for bankruptcy, Chapter 11, etc, But I can't see why the WTBTS allows Witnesses to do so. The fact remains, the creditors loan money in good faith, expecting it to be repaid. Regardless of the 'personal circuumstances', when a Witness declares bankruptcy, the creditors get stiffed. Their money has been legally 'stolen'. How do Witnesses justify legalized stealing when they are always bragging about being much more honest than Worldly people? I'd like to see them explain their hypocricy.

choosing life

I knew an elder whose wife constantly took on additional mortgages on their house to remodel and add additions. When they had a chance to buy another house in a good deal, they "let their house go back to the bank" and somehow acquired the other house. They owed much more than the house was worth, but had no legitimate reason to not pay off their debt as the elder made a good salary.

They are sitting pretty in the newer house and he is still an elder. They talked about it openly, so the body of elders had to be aware. I have a difficult time with the idea of not paying your legitimate debts, if you are able. The bankrupcy laws are there for those who, through no fault of their own, fall on difficult times.

Not repaying your debts, when you are financially able, is stealing.

Octarine Prince

NavyTownRoger, do you work for the evil empire, Capital One?

Are JWs allowed to declare bankruptcy??

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