Reply to Christian Dorsey bankrupt

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m somewhat confused by all the numbers. Article states mortgage debt around $484k. According to Zillow he bought his home in 2008 for $625 and now estimated at $797. Says he was served notice of foreclosure on 9/26. Why not just list it for $750 to try to sell and pay off debt and rent an apartment for a couple of years to get your finances in order?[/quote]

Because that is something a financially responsible person would do.   Someone who has over $80,000 in credit card and personal loans is not financially responsible.  [/quote]

I'm not too familiar with bankruptcy but I'm assuming this means he has no other assets like a 401k?  For being in his mid 40s, that just seems crazy to me! Since the house appears to be worth more than what the article says his mortgage debt is, I'm surprised the bank wouldn't allow him to refinance or something. It's not like he bought a $1 million house that's now only worth 700k. Makes me think he was never in a great position financially when he started the board gig. [/quote]

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