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If you file bankruptcy to "wipe" out your debt dont they liquidate all your assets? You would have nothing then. Right? Or?
They can't take your house, so supposing one were to finance a Demon, sell it and use the cash to buy a house, then run into tough times and have to declare bankruptcy, one could keep one's house.
 

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Keep in mind, they can loan out infinite money. They don't have to have ten dollars on deposit for any dollar they loan out. They used to until they completely took over the government. Then it just became a free money orgy.

Free money for them. So, a bank has one dollar on deposit. It loans out seventy million at ten percent interest, money that doesn't actually exist. It's getting seven million per year on its one dollar on deposit. Occasionally someone doesn't pay. Most do. They rake in millions per year by selling decimal places. Billions, trillions, actually.
 

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They can't take your house, so supposing one were to finance a Demon, sell it and use the cash to buy a house, then run into tough times and have to declare bankruptcy, one could keep one's house.
Have you ever heard of something called a lien?
 

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Sure. Not sure how it applies. Can they kick you OUT of your house with a lien?
Do you work for the banks, er, a bank?
 

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Can’t sell the car without paying the lien off


Sent from my iPhone using Tapatalk
 

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Sure. Not sure how it applies. Can they kick you OUT of your house with a lien?
Do you work for the banks, er, a bank?
Yes, they can kick you out of your house or your car when they hold a lien. With the house, it's called foreclosure and with the car, it's called repossession. Typically common knowledge. Your insistence on posting about subjects where you clearly have no knowledge or understanding would be embarrassing to most people.
 

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Ad hominem attack earns you the eternal ignore. Dismissed.

Please keep in mind that this discussion no longer includes you. In fact, just ignore me, too. Peace.

Homestead exemptions vary widely by state. For example:
  • A few states allow you to exempt all of your home equity, no matter how large. Others protect only a small amount of equity.
  • Some states allow married couples filing joint bankruptcy to double the homestead exemption amount. Others do not.
  • Some states require you to file a homestead declaration in order to take advantage of the homestead exemption in bankruptcy.
  • Most states require you to use the state homestead exemption amount. A few allow you to choose between your state and the federal homestead exemption.
To learn about the homestead exemption in your state, start with our overview articles and then read the article about your state in particular. Each state article has information about the state's homestead exemption amount, what types of property it applies to, whether married filers can double the exemption, where you can find the state's homestead exemption laws (so you can go right to the source if necessary), and more.
 

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They can't take your house, so supposing one were to finance a Demon, sell it and use the cash to buy a house, then run into tough times and have to declare bankruptcy, one could keep one's house.
You can't possibly be as clueless as you're pretending. If you finance the Demon you mentioned, the bank gets the title until you have fully paid off the loan. You can't sale that car without a title.

You must be trolling everyone. Because theres no way any half way intelligent adult would not know that.
 

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Seems like a nerve has been struck.

The debt overlords are not as high and mighty as they pretend to be. Don't let their shills here convince you they are. Bankruptcy and asset protection have many avenues. Take advantage of them as you will and as you must. Multinational corporations do this all the time. You, too, can take advantage of laws specifically written to keep owners of debt from becoming the owners of the people.

Do research for your locale and use every available avenue to escape life-crushing debt. So you can't pay because the US government is leaning towards full commie? That was not your choice. Do everything in your power to protect what you value.

If this leaves a creditor or two holding the bag, so be it. Have as much mercy on them as you know they would have on you. You aren't putting anyone out of their home. You aren't devouring widows' houses like they do. I know that most people prefer to pay everything they owe, but, consider who you are paying. They aren't exactly angels come to do any good whatsoever in the world. Your credit rating can come back. It's not the be-all and end-all of your life.

Be responsible for whatever you can. If things go outside your ability to control or anticipate, then don't feel guilty. Save yourself and your family.
 

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Maybe I should hold off for a while. I think I still owe around 55k for the car. I agree, realistically, I’d be lucky to see $65k for the car. Once I pay it off, that leaves me with 10 grand. Ten grand isn’t gonna do anything for the business. The only thing selling will do is make me feel lousy for the incredible financial loss in 1 year of ownership. Thanks everyone for helping me dissect different optIons as well as ways of looking at this. Stay safe and stay healthy everyone!
I am sure that 572Savoy was being facetious. However, the car is only going to continue to depreciate more the longer you sit on it. Unless you are going to keep it and love it for 25 years, get what you can now.
 

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love Your car, that was the one I was looking to buy. Just to give you some feedback, I bought a brand new Widebody Redeye last week that stickered for $90k for $75k. It pretty much has everything but suade, which I didn’t want, and the Pirelli summer tires, which I did. I love black but so hard to keep clean, but the deal was too good too pass up. There was a white one by me with 1500 miles that was for sale for $70 but the guy told me he would take $67. shame to sell it man. Beautiful car and you will take a beating.
555013
 

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I can definitely do a small business disaster relief loan. The loan is 100% forgivable providing 80 % of the money is used to pay employees. the reminder must be used for utilities, rent, etc. If the funds aren’t utilized properly, the business will be respon for the loan. No such thing as a free lunch! Just glad the feds are willing to provide me with the funds to keep employees paid in full
I have my own business and got the loan. Super easy to get but you should do it ASAP. They told me funds were running out
 

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You can't possibly be as clueless as you're pretending. If you finance the Demon you mentioned, the bank gets the title until you have fully paid off the loan. You can't sale that car without a title.

You must be trolling everyone. Because theres no way any half way intelligent adult would not know that.
Himmelkat drives a Prius and missing a few brain cells, don’t worry your dismissed too lmao.. guys pathetic
 

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Man you guys are harsh. How about educate instead of obliterate?
 
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