Flames' McCarty files for bankruptcy

[djinferno 2]

wow, looks like a painfull process

[Dante2004 0]

A Hoover? What kind of baller doesn't roll with Dyson.

Do 2 Orecks make up for 1 Hoover? :P

[Dante2004 0]

wow, looks like a painfull process

...and humiliating. EVERYONE around you would know your personal business...you couldn't get away from it.

[mack 44]

Jesus, single PS2 controllers are being auctioned off. I'm sure that $5 will put a big dent in that debt. Surely this can't be everything, I mean you'd have to expect an item like "Box of assorted porn: VHS, DVD, periodicals, other."

[RadioGaGa 162]

"...Box of assorted porn"

There is one of those...

The laptop at the bottom of the list....

[sdcopp 1]

Jesus, single PS2 controllers are being auctioned off. I'm sure that $5 will put a big dent in that debt.

the creditors don't care much when they decide to start seizing items to regain any amount of money back. Bankruptcy filing freaking blows, your whole life gets the fine toothed comb approach for any little thing that the creditors can see being of value to take and sell.

[Dante2004 0]

I saw that earlier.  I'm thinking it'd be a really classy move by Illitch to buy at least one of the rings and give it back to him.

At that point it would be an asset again and have to be resold if I'm not mistaken.

You could always purchase it and then allow the other person to posses it, but not own it. That way it would never be THEIR asset, it would be yours. Slightly shady...but it would work.

[sdcopp 1]

I saw that earlier.  I'm thinking it'd be a really classy move by Illitch to buy at least one of the rings and give it back to him.

At that point it would be an asset again and have to be resold if I'm not mistaken.

You could always purchase it and then allow the other person to posses it, but not own it. That way it would never be THEIR asset, it would be yours. Slightly shady...but it would work.

once the BK is finalized it could be given freely as a gift and not touched by the court. The only after the fact things that could be touched are large sums of cash, like an inheritance or lottery winnings, etc.