Comments on: Post-Racial Update: Racial Bias Negatively Impacts Blacks in Bankruptcy Filings

By: Anonymous

Anonymous — Sun, 05 Feb 2012 13:05:00 +0000

I am curious, because you have failed in my opinion to address what is the reasoning behind the disparity in filing between black homeowners and white homeowners?

I could be wrong, but this is no different then how many blacks with the same or better credit score than their white counterparts were steered into sub prime and many other more hideous loans than were needed. Racism might not be the answer, but I am curious as to how you explain the disparities. If Chapter 13 is so much better, why are whites not steered to them as often as blacks? There must be some reason for this disparities, and if it has nothing to do with race, I am curious on what you think the reason for this is.

By: LearnSumfinn

LearnSumfinn — Sat, 04 Feb 2012 02:23:00 +0000

Like I said, read up on what chapter 7 versus 13 entails. You are asking me to explain it all over again with the premise that it is based on bias when that premise is false. Anyway, to try again look at it this way, lat on mortgage, late on car have other property chapter 13 allows you to keep them and restructure. If that doesnt work out they you can file chapter 7. If you file chapter 7 and just give up from the getgo they take the car , the house, any other considerable assets, property, cash over I think 3k everything, you lose it all then you can file chapter 7 and cannot file again for I think 10 years. So someone was trying to help them not lose all eqiuity in their house and car with chapter 7 from the getgo. A lawyer could care less, he gets paid wether you file the complicated 13 that you claim is racist or the simple 7. Again 7 means you have no assets, no property and no cash over 3k.

By: RiPPa

RiPPa — Fri, 03 Feb 2012 18:56:00 +0000

So, can you explain just how said racial bias as identified by the report positively impacts Black people? Because given the disparities, as explained, I don’t see how it does if white people are encouraged and assisted in wiping their slates clean, as opposed to Black people. Am I reading the report wrong?

I can’t wait for an answer….

By: LearnSumfinn

LearnSumfinn — Fri, 03 Feb 2012 18:22:00 +0000

Wow. You claim racism because Bankruptcy lawyers steer more blacks statistically to chapter 13 rather than 7. Yet you obviously do not know the difference or why that would be as evidenced by your posting a slew of disconnected qoutes that dont even touch on what the differences in chapters are. Are you trying to say that a lot of lawyers are racist and there are no minority lawyers? You probably should find out what you are writing about and include that in your articles premise next time.

Chapter 13 has several complex advantages over Chapter 7, such as you can structure your Chapter 13 to let you keep property that the Court would sell in a Chapter 7, and you can get rid of certain types of debts that cannot be discharged by a Chapter 7Read more: http://wiki.answers.com/Q/What_is_the_difference_between_Chapter_13_and_Chapter_7_bankruptcy#ixzz1lLN7Y6Zy

Chapter 13 bankruptcy:You are behind on your mortgage or car loan, and want to make up the missed payments over time and reinstate the original agreement. You cannot do this in Chapter 7 bankruptcy. You can make up missed payments only in Chapter 13 bankruptcy. Chapter 7 you forfeit the car and house. You need help repaying your debts now, but need to leave open the option of filing for Chapter 7 bankruptcy in the future. This would be the case if for some reason you can’t stop incurring new debt. – YOU CAN FILE 7 LATER.

You filed a Chapter 7 bankruptcy within the previous eight years. You cannot file for Chapter 7 again until the eight years are up.

The sun is hot, know why? It’s racist.