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Bankruptcy Quotes

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Bankruptcy Quotes

“That abominable and sensual act called reading the newspaper, thanks to which all the misfortunes and cataclysms in the universe over the last twenty-four hours, the battles which cost the lives of fifty-thousand men, the murders, the strikes, the bankruptcies, the fires, the poisonings, the suicides, the divorces, the cruel emotions of statesmen and actors, are transformed for us, who don't even care, into a morning treat, blending in wonderfully, in a particularly exciting and tonic way, with the recommended ingestion of a few sips of cafe au lait.”

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Author:Marcel Proust
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“The story of Detroit's bankruptcy was simple enough: Allow capitalism to grow the city, campaign against income inequality, tax the job creators until they flee, increase government spending in order to boost employment, promise generous pension plans to keep people voting for failure. Rinse, wash and repeat.”

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Author:Ben Shapiro
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“In my very first term there was an issue that brought us [George Mitchell, Ted Kennedy, Chris Dodd] together in a very deep, emotional, and personal level.It was called 'spousal impoverishment' and it meant that for one person [to go into] a nursing home, the family [ ], could go near bankruptcy, and then they'd end up with a lien on the family farm or the home. And so I wanted to change that.”

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Author:Barbara Mikulski
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“The Bankruptcy Reform Act of 2005 made it harder for individuals to file bankruptcy, which is always the last resort. Unfortunately, simultaneously consumers racked up so much debt that counseling companies - which are higher up on my list if you need help managing your debt - are sometimes unable to help. So if you fall into this camp, debt settlement may be something to consider.”

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Author:Jean Chatzky
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“You settled a debt instead of paying in full will stay on your credit report for as long as the individual accounts are reported, which is typically seven years from the date that the account was settled. Unlike with bankruptcy, there isn't a separate line on your credit report dedicated to debt settlement, so each account settled will be listed as a charge-off.”

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Author:Jean Chatzky
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“You need a clear, legitimate excuse for why you're behind [the bankruptcy], such as a layoff, divorce, or medical emergency. Be prepared to back up the circumstances with supporting documents. Anything you have to substantiate your story - including proof that you have, for instance, been actively looking for a new job - will help.”

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Author:Jean Chatzky
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“Once the settlement is completed, the credit card company will report it to the credit bureaus, which will then make a notation on your credit report that that account was paid by settlement. That's going to signal to future lenders that you left the last guy hanging. That's why, as with bankruptcy, debt settlement is an extreme option, one you shouldn't take lightly. It's not just an easy, cheap way to eliminate debt.”

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Author:Jean Chatzky
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“Puerto Rico is a government that is spending money that it doesn't have. What's coming in and what's going out don't match. That is, what they are receiving in taxes is not sufficient to cover the spending that they are taking on. And any entity that does that, whether a family, a business, a government, is going to go broke and bankrupt. They are asking to be given the right to declare bankruptcy, which I think should be an option, as a last resort, if there is no other resource.”

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Author:Marco Rubio
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“They [ the government of Puerto Rico] are asking to be given the right to declare bankruptcy, which I think should be an option, as a last resort, if there is no other resource. But there also need to be measures, changes within the government of Puerto Rico, in the ways that the island's funds are administered, not just to deal with this budget issue, but also to have, to attract the economic growth that is necessary for Puerto Rico to begin to grow economically. They are losing population, and they are losing economically.”

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Author:Marco Rubio
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“In England, all the English car companies were beginning to circle the drain in a series of well-deserved failures and bankruptcies, earned by making lousy products with very poor production at high prices. So, the government, back in the '70s, nationalized all the British car companies. The result was British Leyland, a name that perhaps doesn't resonate much with you.”

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Author:P. J. O'Rourke
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“As a businessman, Donald Trump has been associated with some of the worst excesses of a particular style of value-extracting and asset stripping capitalism: set up businesses, let them fail, avoid paying suppliers, use bankruptcy laws to avoid taxes for decades, then set up another business somewhere else. It is this model that is the cause of many problems we see today.”

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Author:Mariana Mazzucato
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“During a time of surplus, a time of peace before 2001, it was much easier to try and find middle ground. We were running surpluses. But during a time when we're careening into bankruptcy and failing miserably on our foreign policy it's just not the same old "find consensus, go along to get along, be pragmatic, come together" place that it was. I think that some very hard decisions and very hard choices have to be made. They won't be popular, but they're necessary.”

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Author:Dan Coats
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“Donald Trump was tainted every kind of way you could imagine. I mean, no way in the world that Donald Trump is a champion of working people. He has hurt workers in Las Vegas, Atlantic City, Florida, multiple bankruptcies, never showed his taxes. I don't know any good thing this guy's ever done. And yet, because he was able to throw hate and poison on Hillary Clinton, he was able to somehow prevail at least until the Electoral College. I think he was skilled at just sort of, like, keeping the attention on anyone but himself. He is the most outrageous person ever to win a presidential election.”

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Author:Keith Ellison
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“I would say the 1980s, most importantly, there's been a witnessing of the bankruptcy of the liberal philosophy and the anti-moral and amoral philosophies that were so prevalent in the 1960s and '70s, the rebellion of young people, which brought about the drug epidemic in so many to break down the family. Particularly during this decade, the spiritual rebirth. I'm an evangelical, and I've watched the evangelical church here and around the world preaching Christ, the death, burial, resurrection of the savior, receiving more receptivity everywhere, and that growth.”

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Author:Jerry Falwell
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