Certain vehicles offer more protection than others when it comes to bankruptcy proceedings and ringfencing assets from creditors.A good CPA should be able to effectively advise on the tax and legal implications of each vehicle.

She recently filed for bankruptcy however, and Wells Fargo advised everyone of the upcoming foreclosure.

The last time the house was at auction it sold for $398K (owner filed bankruptcy and negated the sale, then ignored the court until they dismissed his case).

I also accept tenants with bankruptcies, felonies etc. as long as they don't lie about it during application process (evictions/judgements for unpaid rent are a hard no of course).

It is bankruptcy proof- if something devastating happens, your policy is between you and the insurance company.

I know a few people who filed bankruptcy to stop an HOA foreclosure when they were foreclosed for non payment of fees, fines and court costs associated with non compliance issues.  

When the “guru” fails to disclose past bankruptcy’s, lawsuits, AG actions, and cease and desist orders filed against him or his companies 5.

If you have a credit card, and cannot afford to pay your bills you declare bankruptcy.  

I believe he filed for bankruptcy in 1986.He was over-leveraged, but the bigger reason is that the bank called his loans due in 90 days.

...if you have hundreds of thousands or millions in reserve, it might not be an issue  ...but if you only have a few thousand, it will be a major problem.Now, having said all that, there definitely are scenarios where a structural issue is an easy, relatively cheap fix. ...and, there are some examples of settlement that can be ignored--for instance, minor settlement on a 100 year old house is fairly common, and might not affect the structural integrity of the house.But, again (assuming that you're not a structural engineer), you don't know what you don't know--it could be five hundred bucks and a weekend of work, or it could be a hundred thousand dollars, a year of your life, eight months of vacancy, and ultimately bankruptcy.