But I Want More Stuff!

It never ceases to amaze me how many of my bankruptcy clients ask, "How soon can I get a credit card/car loan/mortgage."  Geez, kids, cool your jets.  First, one of your problems coming out of bankruptcy will be that you'll start receiving credit card offers right away because they know you're stuck with the bankruptcy waiting period and can't stiff them any time soon.  Are you really so eager to feed the vultures?  Second, incurring debt you couldn't service is what brought you to my office in the first place.  You may think you're flush, but you're still just one job loss or medical emergency from being back in the tank.  Try this thing called "saving" for awhile.  Ask your grandparents; they can probably tell you all about it.


Look, we all want things.  I want a new car and house, too, but here's a news flash: Tomorrow will come, and if you spent it all today, tomorrow is going to hurt.  Badly.  So I maintain my cars (Memo to me: Get that front end looked at.), and I keep renting.  When we moved from Washington to Utah seven years ago, My Dear Wife wanted to buy another house.  I said, "No dear, this market is whack."  She was incensed that I would do something so un-American as fail to incur consumer debt.  But guess what?  I was right.  And we'll keep renting, too, much to her chagrin, because in less than 10 years, we'll have an empty nest, so why do I want to go buy extra bedrooms and baths?


It's called "thinking," people.  Do it or pay the price.