Bankruptcy

From CaseyPedia

Bankruptcy is the legal state where an individual or organization is declared financially insolvent and unable to pay their creditors. In most cases, bankruptcy proceedings are initiated by the debtor.

When Casey Serin first started his blog, he was advised by numerous people to declare bankruptcy in an effort to discharge at least a portion of his virtually unmanagable half-million dollar debt. Serin acknowledged the advice, but proceeded to waver and waffle over contacting a bankruptcy lawyer. Almost a year after starting the blog, Serin still has not declared bankruptcy, while the interest payments on his outstanding debt have likely increased by five figures in the intervening time.

Speculation among the Haterz™ is that Serin refuses to declare bankruptcy, because doing so would open his shady financial dealings to the public record, and he would undoubtedly be prosecuted for mortgage fraud, among other felony charges.