Is there a link to this story or is it old? I could not find it on the “Housing Bubble Blog.”
It sounds like the wife is a compulsive spender. How do you wrack up $80K in credit card debt? Who’s going to loan them the money? None of my credit cards has an $80K limit! Maybe this woman was buying gold and silver coins and burying them somewhere? After bankruptcy, she can always dig them up and start fresh.
The banks, credit card companies, realtors, and retailers don’t want people to save any money. Better to have all the people, who are employed, in the country being debt slaves. That’s what consumer culture is. The culture of debt promoted by advertisers and other shills. Don’t participate!
