I went to Circuit City and thought I might find a bargain considering their liquidating for their bankruptcy.

Bankruptcy Court in Manhattan makes it one of the largest nonfinancial companies to succumb to the global financial crisis and is the biggest bankruptcy of a U.S. real estate company, according to BankruptcyData.com.General Growth had previously put several of its flagship properties, including all three of its Las Vegas malls, up for sale.

As I mentioned, death, tax liens, bankruptcy, law suits, divorce and qualification for government benefits can expose your deal and termination of the deal is possible.

Once you have ownership, you are responsible for the hazard insurance, property taxes, maintenance, any code violations and of course, the property is exposed to your creditors if you are sued or file bankruptcy.

I would be very surprised if BP had to file for bankruptcy unless governments interfered and imposed harsh costs on it.

The culture needs to accept risk taking and not cast aspersions on people that have a bankruptcy or other have other bi-products from taking risk.

That is, if you're having a beef with a creditor--as I am at this very moment over a $244 Verizon bill I don't owe--one's FICO score can be as compromised as if I filed bankruptcy and skipped out on ALL my debts!

Keith Lutz If you look at California, which has been Democrat controlled for over 60 years (having a Republican governor without having at least the Assembly or Senate is worthless) We have Cities and Counties filing bankruptcy.

Me thinks at this stage of the game that there are some global rational minds that will rise up and declare a kind of global blanket bankruptcy of sorts, wipe the slate clean and start this whole global economic thing from scratch with an internationally accepted currency based on some form of real collateral be it GOLD or KRIPTONITE from an alien source. 

Yes, I filed bankruptcy when I was 22.