So many families have filed bankruptcy under the Biden administration. My family being one of them. Going from a thriving family in 2019, planning for a new baby, planning to buy a home, to, as soon as Biden stepped in, only being able to provide food for our children with credit cards we knew we couldn’t afford to pay off. Choosing to buy groceries or pay rent, pay for electricity or gas in the car. With our ever-growing debt looming over us, bankruptcy was our only option. Now with Trump’s second term on the horizon, we have hope again. Hope for the affordability of things we had to give up in bankruptcy. Only now, we won’t be able to take advantage of the economic changes under Trump due to the derogatory marks we now have on our credit reports. I want to propose that any family who filed for bankruptcy under Biden’s administration, should be fully forgiven, no negative marks against our credit, so we can build our lives back, have a chance to purchase a home for the very first time, have the ability again to purchase reliable means of transportation that we had to give up during bankruptcy. I know this would make a huge difference in my family’s lives. I’m certain it would do the same for many others.
Big companies get bailouts. Countries and organizations from all over the world get funds. And my question is, how about us, the USA citizens? It cost less than 1% compared to the entire world and companies bailouts!!
I’d love to see a clean slate program. Get rid of the credit score system altogether and let everyone start over with the ability to buy homes, vehicles, etc. and put caps on loan and credit card interest thereafter.
I had to file bankruptcy because my business couldn’t survive. I had maxed out credit cards and had to finally throw in the towel.
Going through the process was very depressing and I ended up in a mental hospital 3 times. At the end of the process I had to pay 20,000 or they would force the sale of my husbands home that he had before we got married. I had to borrow that money from my parents.
When I got the final paperwork it turns out that not one penny went to pay creditors!! The only person who received money was the trustee. This process needs to be fixed. I am still paying my parents back.