Quote:
Originally Posted by Borderwatch
Did you see the bankruptcy documents? It is sad but I dont see why they went bankrupt.
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If you mean, why did they file BK, the answer most likely lies in the manner in which they live. Not that they live extravagantly, but because Chelene lives in a narrowly focused world of her own. They got behind in the house payment, and tried to delay the inevitable by filing chapter 13 BK in a short sighted effort to stop or delay forclosure. Without the means to support the chapter 13 payments though, it was a fools pursuit. It may have worked had Chelene actually went to work and helped the income side of the equation, but alas, she must run for governor. With only her husbands fledgling business on the supply side, there's little way the chapter 13 plan would work.
So then they took the next step and converted it to a chapter 7.
My thought is that this was a very foolish move given her plan to be governor, and a limited amount of debt in comparison to many BK parties. With her husband in self-employment and her not bringing in income, they could have rented and kept a low profile for awhile. Their creditors would have initially tried to collect, but would have more than likely backed off after some time. Now they are still incurring debt, still have only one or less incomes, and are running the risk of something going awry legally with her campaign that will cost money, and they have no possibility of filing another BK to discharge it for nearly a decade.