<html><body><div style="color:#000; background-color:#fff; font-family:times new roman, new york, times, serif;font-size:18pt"><div><span>The bankruptcy trustee company handling the declaration of bankruptcy did not tell me what they would do with the money.</span></div><div style="color: rgb(0, 0, 0); font-size: 24px; font-family: 'times new roman', 'new york', times, serif; background-color: transparent; font-style: normal; "><span><br></span></div><div style="color: rgb(0, 0, 0); font-size: 24px; font-family: 'times new roman', 'new york', times, serif; background-color: transparent; font-style: normal; "><span>They have various bankruptcy trustees (maybe half a dozen), two or more receptionists, a lot of handouts about bankruptcy laws, furniture, coffee, water dispensers, paper and styrofoam cups, a building, advertisements in newspapers, radio, television, etc. They have to use legal researchers to keep up to date with government bankruptcy laws,
and train all their people on whatever changes may have been made, as well as create the revised handouts.</span></div><div style="color: rgb(0, 0, 0); font-size: 24px; font-family: 'times new roman', 'new york', times, serif; background-color: transparent; font-style: normal; "><span><br></span></div><div style="color: rgb(0, 0, 0); font-size: 24px; font-family: 'times new roman', 'new york', times, serif; background-color: transparent; font-style: normal; "><span>Their charge is less than $3,000 - something like $2,700. The price may rise with time, due to inflation.</span></div><div style="color: rgb(0, 0, 0); font-size: 24px; font-family: 'times new roman', 'new york', times, serif; background-color: transparent; font-style: normal; "><span><br></span></div><div style="color: rgb(0, 0, 0); font-size: 24px; font-family: 'times new roman', 'new york', times, serif; background-color: transparent; font-style: normal; "><span>James E.
McIntosh</span></div><div style="color: rgb(0, 0, 0); font-size: 24px; font-family: 'times new roman', 'new york', times, serif; background-color: transparent; font-style: normal; "><span>jamesemcintosh-/E1597aS9LQAvxtiuMwx3w@public.gmane.org</span></div> <div style="font-size: 18pt; font-family: 'times new roman', 'new york', times, serif; "> <div style="font-size: 12pt; font-family: 'times new roman', 'new york', times, serif; "> <div dir="ltr"> <hr size="1"> <font size="2" face="Arial"> <b><span style="font-weight:bold;">From:</span></b> William Muriithi <william.muriithi-Re5JQEeQqe8AvxtiuMwx3w@public.gmane.org><br> <b><span style="font-weight: bold;">To:</span></b> tlug-lxSQFCZeNF4@public.gmane.org <br> <b><span style="font-weight: bold;">Sent:</span></b> Wednesday, April 24, 2013 8:07:23 PM<br> <b><span style="font-weight: bold;">Subject:</span></b> Re: [TLUG]: Was Cutting the Cord, Getting rid of the monkey<br> </font> </div> <div class="y_msg_container"><br><div id="yiv3140288691"><div>James,<br>
><br>
> In my case, all except two credit cards have been cancelled, with no outstanding debt on them.<br>
> <br>
> In the two remaining cards, my credit limits have been set to zero.<br>
> <br>
> Paying a debt with a cheque when you know that you have insufficient funds is a crime, and paying a debt with a credit card with a credit limit of zero is impossible.<br>
> <br>
> Were you joking?<br>
> <br>
><br>
I don't think he was joking. He is mostly confused of the process as I am.</div>
<div>See, for you to sit and decide to declair bankruptcy, you mostly wouldn't have any money at all. So you would get to a catch 22 scenario where you need bankruptcy to exit debt but can't afford to pay for bankruptcy.</div>
<div>Who receive the $3,000? Lawyer's? Bank? Where do you go to declair bankruptcy? Just being curious here.</div>
<div>William</div></div></div> </div> </div> </div></body></html>