Found out family is in bankruptcy?
Okay so i was really bored online and googled my last name and address for fun. Only to find my address and parents names and that they had filed for bankruptcy in July. I had no idea. I just got a ton of christmas presents and I go to a private school. I knew it wasn’t the best of times but I had no idea that things were bad enough for us to file bankruptcy, what exactly is bankruptcy and is there anything I can do to help my family?
it’s chapter 7, i dont know what that means thanks so much
I know that they paid for my presents in cash, not credit. idk if it makes a difference. They haven’t used credit cards in like 3 years but know that I think about it we always used to use them.
Posted May 16th, 2010 in When To File Bankruptcy. Tagged: 3 years, bankruptcy, chapter 7, christmas, credit cards, idk, name and address, parents names, private school.
I would not worry about it. Your parents already did the bankruptcy and their financial problems should be solved.
As long as they provide for you (and it looks like they do that just fine) you have nothing to worry about.
Bankruptcy can mean that all of their outstanding debt has been wiped out by the bankruptcy judge to give your parents a clean slot again or it means that they entered a lesser form of bankruptcy and are making partial payments to pay off some of their debt.
Either way…. your parents did not want to bother you with their financial problems.
Unless they come to you and explain the situation… don’t tell them that you know. It might be that they don’t want you to find out because it would worry you. Allow your parents to keep their "Image" and don’t pry into their business.
May 16th, 2010 at 9:50 am