Sharing Daily Discoveries About Personal Finance And Business Topics

Seeing Someone Bankrupt With Expensive Items

I had this funny conversation the other day as a result of encountering a person who claimed to be pretty rich and has items like a very expensive car. Of course, my mentality is always if people are truly wealthy they usually don’t try to show it off so bluntly. Sure enough, if you did a little research you could see that this person filed for bankruptcy not too long ago.

I’m sure everyone is probably thinking the same and wondering how the heck can someone who recently went bankrupt afford such luxurious things? Maybe this isn’t fair to say as every case is different, but my first thought would be to stay away from the person as my assumption would be they are a very good talker. It’s almost like the type of person who would purposely try and wrack up debts and loans as they know they are going to file for bankruptcy.

Nowadays, this type of information is so easy to get too. It’s just like if a person is bragging that they own so much property you could easily do a title search on it. Seeing these records aren’t just for people who are interested in things like credit scores. I think for business deals too it’s valuable information to cross check if people are flaunting their wealth to you as a reason to do business with them.

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