More Debtors Choose Personal Bankruptcy

Full story: Hartford Courant

Maryann Hagberg has five little dogs and a house full of plants, yet there's hardly a stray hair or withered leaf on the floors of her home on a steep hill overlooking the city.Still, life can get messy, even ...
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Jim

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#1
Mar 15, 2009
 

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Get rid of four of the dogs. Sounds like these people for their ages were too deep in debt. $2,400 a month sounds high given the low rates. Maybe instead of being OCD about dog hairs, she should have watched her pennies.
Fleetwood Fan

Newington, CT

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#2
Mar 15, 2009
 

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This was a poorly written article to gain sympathy for a family in need. Referencing 5 dogs in the opening paragraph set the tone for a family despite illness that was living on the bleeding edge of financial disaster. I'm guessing they have cell phones, cable tv and two cars. Suggestion: cancel cable, cancel newspaper/magazine subcriptions, ditch the cell phones, own only one car (sell the other) and find new homes for the dogs. Concentrate on "needs" not "wants".
Joe Citizen

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#3
Mar 15, 2009
 

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Where is your sympathy for this obvious victim of the Bush/Channey Presidency. Eight years of Republican Greed caused this !

It's all the fault of the greedy Republicans in Washington that allowed credit card rates soar !

It was Republicans like Joe Biden that fought to tighten up Bankrupcy Laws and raise credit card interest rates. It got his son a Vice Presidency in the Bank of America.

Dont worry Obama will give you a bailout! He will print more money and you will have your house free of all debt! The Obama will save us all from ourselves !

I for one have grown sick and tired of hearing about people that over extend themselves. There are no more hard choices to make. Ask and ye shall receive a government bailout at the expense of people like myself that work hard and live with in my means !This is another reason why more people use the Courant to line their catboxes than any other publication.
Tirerd Taxpayer

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#4
Mar 15, 2009
 

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Please I am sick of hearing about people scamming the system.

I pay my taxes !

I pay my bills !

I live within my means !

These people make me sick !
Richard

Lincoln, NE

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#5
Mar 15, 2009
 

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According to an article in The Wall Street Journal, the mood in Congress has turned against these 'cramdown' provisions that would allow bankruptcy judges to revise the terms of mortgages at their will.

I think the idea is unconstitutional in any case, and shudder at the potential for abuse of power if this comes to pass.

Imagine the potential for corruption on the part of our politicians and the other high-and-mighty characters in the public world.

I hope that this lady and her ailing husband can come to terms with their creditors, and it seems that she sincerely wants to do "the right thing," but it might be that their changed circumstances simply don't justify their staying in the house.
HC Here

Arlington, VA

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#6
Mar 15, 2009
 

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It's up to her to find a job with health insurance. She has a college education, but makes little as a nutritionaist. She needs to find a decent job with benefits to take care of both of them. People need to take car of themselves - not look for ways to get off the hook and raise the cost of doing business for everyone to make up for writing down her obligations which will not be honored.

It's up to them to honor their debts. The people who sold them goods can't write off every transaction as a loss. It's not fair to the banks for these people evade their obligations. If they can't honor their obligations, they deserve to lose the house.

That may not sound nice, but life is not fair. I honor my obligations, why can't other people.

Let's all just stop paying our bills.
HC Here

Arlington, VA

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#7
Mar 15, 2009
 

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Thes epeople are at least in their late 40's. How much do they have in savings? They have had a good 20+ years to save so they could pay their debts as debts arise. If they haven't saved anything, they deserve to be on the street. If they haven'st saved squat, they are irresponsible.
Empathy

Glastonbury, CT

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#9
Mar 15, 2009
 

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Certainly we all have empathy for his medical condition. However, it is time to step up to the real problem. You spent more than you could afford. Sell the house, cut your losses and do not expect another free ride. You have already bilked the system with that second mortgage. No life is not fair, we all have to do our best and not expect the system to clean up your mess.
Responsible Reader

North Granby, CT

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#10
Mar 15, 2009
 

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The Hagberg's have $54k in unsecured debt, yet took out their second mortgage to pay, among other things, other existing debt? When they paid off their debt the first time around that didn't give them free reign to rack up the bills again.

I'm getting tired of all these stories begging for my sympathy. They already have my tax dollars.
HartfordResident

Hartford, CT

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#11
Mar 15, 2009
 

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I agree, these people make me sick!
I pay my taxes!
These people are gaming the system!

The main problem is that people feel they are ENTITLED to a certain standard of living. A 300K house(at 6% interest 1750 monthly payment means a 30 yr loan on 300K, not including taxes),(and from the article, did these people have 2 houses?) 4 Dogs!? Cell phones, cable TV, eating out.

These people should move into an apartment, they can find one for 900/month. Sell their house and cut back on spending. This is BullSh@$!

These are the idiots that contributed to the current crisis.
Why do we have to pay for it?
Janies Last IOU

Branford, CT

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#12
Mar 15, 2009
 

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Have you noticed the common theme in these HC sob story articles? No matter what the circumstances, even though common sense dictates otherwise, "I want to keep my house."

Not one of the people profiled in these articles has taken the bull by the horns and decided to cut their losses, get out from under the house and start over from scratch.

Thanks, HC, for continuing to feed the entitlement mentality and demonstrating that personal responsibility isn't about making tough decisions - it's about finding someone to fund your irresponsibility.
Beyond me

Wallingford, CT

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#13
Mar 15, 2009
 

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To the people who are so critical of others, hope you don't find yourself in a similar situation.
PAY YOUR TAXES

Wilmington, NC

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#14
Mar 15, 2009
 

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she probably goes out to eat 3 times a week.
1. Never go out to eat
2. No TV,Cell Phones,Newspaper/Magazines
3. Hang Clothes on the clothesline
4. Cut back energy by keeping house temperature at 65 degrees.
5. get a second and third job.
6. pay your bills like everyone else. if you want a bailout from the government you WILL BE considered a second class citizen.

i swear the HC had an article just like this last week
HC Here

Arlington, VA

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#16
Mar 15, 2009
 

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Beyond me wrote:
To the people who are so critical of others, hope you don't find yourself in a similar situation.
Maybe it's becasue those of us who have lived within our means and met enery payment are sickened by those who didn't plan, didn't save, and want the easy way out avoiding their creditors.

When one person doesn't live up to all of their financial obligations, it raises the prices for the rest of us. Don't ruin my life because you messed your own up.
No sympathy

United States

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#17
Mar 15, 2009
 

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Here we go again. Is this article supposed to be a joke? What is it with these people that live beyond their means and then look to the rest of us to bail them out? You're supposed to plan for unexpected expenses like illness in your life. They had 2 incomes. You don't do major home improvement work if you can't afford it. If you can't afford your bills get a 2nd job. And how much are they spending for veterinary care each year with that many dogs. I'm so tired of the latest disease in our society called "entitlement". All of this at the expense of those who live within their means and make responsible decisions about their lifestyle and spending. These entitiled people should be ashamed but like psychopaths who lack remorse these people lack shame.
driverdan

Tolland, CT

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Mar 15, 2009
 

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wow, i too had a house, 2 mortgages due to home improvements, then got hurt on the job. but i had long-term illness ins., mortgage ins., learned lesson the hard way yrs. ago so NO credit cards, sold the p/u & mustang, used fireplace for major heat source, closed off half of upstairs, and got thru it. just when we turned finances around to good place, gold-digging wife keeps 3 mortgage payments takes off. so now i live in apt. no bankruptcy paid all bills, and feel real good about myself
just cause

Newington, CT

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#19
Mar 15, 2009
 
The cost of discharging those debts will be passed onto all future borrowers regardless.

That being said, if she gave her dogs to a shelter, the dogs would have already been gone, and PETA would be paying the bill to put them down because PETA determined they were unsuitable. PETA puts down 6,000 dogs a day.

So while she still has her dogs, I am sure she did not get them when she was in the boat, and she knows the consequences of giving them up better than you folks do.

Since: Jan 09

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#20
Mar 15, 2009
 
My sympathy for mr.hagbergs illness.Medical issues can strike any of us at any time.Having proper health insurance in place with a two income couple should be priority #one. Now that it is what it is a career change is in order train to be a RN at the hospital.Also a course in economics. If not then take advice from blogs above.
Enoch

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#21
Mar 15, 2009
 

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Story reminds me of the fable regarding the ants and the grasshopper. Seems the ants planned for the future and saved and the grasshopper "fiddled" to the tune "The World Owes Me a Living." Come winter, the ill prepared grasshopper was left out in the cold and guess who had to help bail him out? Yep, you and me...the ants!

Since: Jan 09

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#22
Mar 15, 2009
 
driverdan wrote:
wow, i too had a house, 2 mortgages due to home improvements, then got hurt on the job. but i had long-term illness ins., mortgage ins., learned lesson the hard way yrs. ago so NO credit cards, sold the p/u & mustang, used fireplace for major heat source, closed off half of upstairs, and got thru it. just when we turned finances around to good place, gold-digging wife keeps 3 mortgage payments takes off. so now i live in apt. no bankruptcy paid all bills, and feel real good about myself
kudos man

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