Caryn McKinney, an attorney from Atlanta Georgia, presented the topic at the NW REIA meeting, "Finding people who are being kicked out of bankruptcy." This is sometimes an overlooked group of people. 87 per cent of people who declare bankrupty are kicked out, the court will tell them they are not longer eligible for the bankruptcy protection.
The main reason for being "kicked out of bankruptcy" is they fail to comply with the reorganization structure the court has given them.
The reason why? If a person can't make all their payments on 100 percent of their income, they are not likely going to be able to keep up with their expenses when the courts allocates a portion of their income to pay off the bankruptcy.
It's an unfortuate situation, but a reality, and property buyers should look at this group of people.
1 comment:
Did you buy the software and books they were selling or did you figure out how to do it on your own?
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