Funny thing about life is that once you're a bankrupt, life becomes very difficult even if you've paid it all. Can't get a loan, can't get a job. It's like being a criminal. It's like bankruptcy is a crime

You can't. That's why I say, make one mistake, and your life is over. CTOS does not create reports, they just list the facts, that you defaulted, and you have repaid. When I was in the CC dept of a bank, we used to routinely decline anyone who turned up in the database. Doesn't matter who or why or what, as long as you're there you got no loans. If you apply for a job, some will ask you whether you have ever defaulted, whether you have ever been a bankrupt. If you have they won't hire you.

It's the same with criminals. If you have a criminal record, you will not get hired. If you get arrested for petty theft or trespassing or whatever when you're young and don't know any better, your entire life is shot.

This post has been edited by wodenus: Jun 3 2010, 03:17 PM