this post was submitted on 02 Apr 2025
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I mean, sure... but you'd actually have to reasonably liquidate most of your assets at that point. You can't just "claim" bankruptcy and do literally nothing to sate your debts. Of course this is different on a jurisdictional basis... but overall, you have to sell a lot of your stuff in order to do a proper bankruptcy.
https://www.financestrategists.com/financial-advisor/bankruptcy/what-can-you-keep-after-filing-bankruptcy
It can decimate any savings you have for retirement.
What assets?🤣
Fair enough if you don't actually have any... but the courts will still make that decision for you. Some things might count that you don't expect.