u/CoolCalmCollected65

TurboDebt has almost 8000 reviews and a 4.9 rating, and one ad stated that it’s not a loan and it’s not bankruptcy and you don’t have to pay it back. Sounds great. 

I looked at some reviews as well. Some of the glowing reviews loved that the salesperson had just walked through the process with them the previous night and many seem to be about the enrollment process, but not the actual day-to-day with the program. 

That said, some of the negative reviews were quite negative.

Is Turbo Debt legit? Has anyone here worked with Turbo Debt and care to review how does it work? Any advice?

Ideally, bankruptcy is a one time thing and the debt does not come back again. However, with the unstable economy and job market, I am sure there has been an increase in people filing a few times throughout their life based on job loss, medical hardships, divorce, etc…

Are there legal limits with how many times you can file Chapter 7 or 13?

At what point do courts push back or limit relief?

On a psychological side:

Does having bankruptcy as an option lead to repeated cycles and spending behavior?

For those who have experienced multiple filings, what typically leads to that outcome and did any questions arise during your case from the trustees?

How common is filing bankruptcy multiple times?

Curious to learn more about the financial and behavioral aspect of filing.

A lot of discussions around Chapter 7 are positive and most people wish they filed sooner. It’s harder to find the clear breakdowns of trade-offs compared to other paths.

When comparing these scenarios:

Option A:

Carry a large amount of unsecured debt with damaged credit, but being able to pay the minimum payments.

Option B:

File Chapter 7 and discharge the debt in about 5 months.

What does financial life look like 1-2 years after?

What are the actual downsides of filing beyond credit impact?

How are things like cash in a bank account treated?

Would appreciate any insights from people who have compared both paths in detail.