Re:Zynga stock plummets below value of its cash and real estate
by bdcravens on Thursday October 11, 2012 @08:59PM
(#4643484)
I know we've heard over and over about medical bankruptcies, I don't think that's the issue in most filings.
It's typical for a family of 4 to have 2 new car payments, tens (if not hundreds) of thousands in student loan debt, a $300K mortgage, $20K or more in credit card debt, and all the costs of kids (soccer dues, etc). How long can a family like that do without income or at best lose half? Probably 2-3 months, tops. That's what causes bankruptcy.
It's typical for a family of 4 to have 2 new car payments, tens (if not hundreds) of thousands in student loan debt, a $300K mortgage, $20K or more in credit card debt, and all the costs of kids (soccer dues, etc). How long can a family like that do without income or at best lose half? Probably 2-3 months, tops. That's what causes bankruptcy.