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Originally Posted by Z eliminator Can some body tell me . is he still open for business, are his door closed, are there any letters posted on the inside of
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09-13-2014, 11:37 AM
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#11 (permalink) | |
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A True Z Fanatic
 
Join Date: Jan 2012
Location: SoCal
Posts: 14,824
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Quote:
I don't think anyone really understands how bankruptcy works... (Not talking specifically to you Z eliminator). Anyways, filing for bankruptcy is a way for you to "restructure your debt". Honestly what it is, is protection from your stuff getting repo'd, AND you don't have to make payments on it (you should, but no one is gonna stop you). The disadvantage is that your credit goes to non existent. You need a loan to buy more turbos? No. Need to use your credit card? Ehhhhhhh... Good luck. Now, speaking as a camel jockey (Sam is one too)... He'll probably let this business tank so he doesn't have to repay any of his debts, and start a new one IMMEDIATELY under some other families name and the GTM storefront we see will never close...
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