I have to agree with BOLO, Instead of teaching our kids how to protect themselves if you have same sex sexual activity, teach them how to balance a checkbook ans save for the future of course my 201K isn't a very good example but thats another topic.

Now as for the Cox's it is unfortunate and you people that are just one paycheck away from being in financial dire straits don't be to quick to judge anyone's misfortunes. Folks it hasn't begun to get bad, we're in for a rough ride in the very near future and beyond...

I would kill for a 201! Our plan got replaced with IOUs a long time ago, and now the company managing them isn't taking our calls

Chapter 13 is for personal debt. Looks to me like most of the debt was business related. Chapter 11 is for business reorganization if the business has an income stream to pay the debt. But it appears the business had no income stream to pay the debt. I'm guessing this is why they filed Chapter 7. Don't be so quick to judge people when you don't know all the facts.

What you're basically saying is that Mr. and Mrs. Cox put their personal debts under their business. That's just a shameless way to stiff your creditors by saying, "Oh, those were business debts" while preserving personal assets so you can live well.

If there had been some tragic illness, I could understand. If there had been some family catastrophe, I could understand. Those reasons are why we even have bankruptcy relief and not debtors' prison.

This was just poor business management and working the bankruptcy system to their benefit. How many half-built homes were left in the wake of this? How many neighborhoods were left with a barely-begun subdivision that will now sit as an eyesore, rapidly reducing home values? You don't sound very sympathetic to those situations or the small-business creditors (who really suffer in these situations).

Again, I'm sorry the business fizzled but don't be so quick to assume that this isn't a case of gaming the system. People use bankruptcy as a tool to maintain a lifestyle; there's no reason to believe that it isn't possible in this case.

What happens when you give a lumber salesman turned builder and a school teacher turned government official 2.9 million dollars in unsecured debt. Answer bankrupcy - this is why America is the way it is today. Also I am sure the 2008 vehicles were purchased knowing bankrupcy was on the way - 7 years with no credit they will be driving them for a while - another judgement error - Will a Ford last 7 years?

You don't get it! You just don't understand anyone giving away substantial money! I suspect you would have kept the winnings and not paid the banks either one! I don't think she could keep it due to contract to give it away by the TV show!

Anyway, think a little, will you?
The one million would not have paid 15%. after taxes, of their debts!
They would still have filed bankruptcy!
It was just a thumbing of their nose at the banks and others they owed.
Afraid that is the mentality of today's leaders. It has got to change.

You said it, J-girl! I happen to live in one of the homes that John Cox built, and I can personally attest to John's integrity, his honesty, and the pride with which he built his homes. He bent over backwards to make sure we were happy with the quality of everything that went into our custom-built home, and he was very cautious and frugal when I wanted to go above the budget we had originally set. Knowing how he runs his business, I am confident his declaring bankruptcy had nothing to do with anything other than this awful economy. How many builders do you know these days who have fallen on hard times? Just about all of them! Give these people a break! My gosh, Kathy Cox could have bailed herself out with a million dollars and yet chose to donate the money to charity! I can't think of two people of finer character than John & Kathy Cox. You who are so quick to attack should be ashamed of yourselves! And that goes for the media as well!

Does it not matter to you that she may have had nothing to do with being required to donate the money, or that she preferred to NOT pay her bills and give it away instead?

She knew that they were broke when the "donation" was made.

Character is proven by debt paying, meeting obligations, and a lack of pretense, not society prominence.
There will be many others going broke, but not so many avoiding payment while still spending like crazy.

And how do you know all these things that you are stating as facts? There but for the grace of God go any of us. I hope that if you or any member of your family find yourself in a similar circumstance, that you will be shown more compassion than you have shown others.

If you know for a fact something different than what I said, then please state it! Many have had opportunities to over-borrow and try to get rich, but didn't. They had that right but why is pity necessary when they fail due to bad judgement? I don't buy that everyone has a chance to go broke unless God stops it!
They are still alive, even Don Trump has gone broke more than once!!
He didn't pay his bills either.

I'm not talking about this person anyway, I'm commenting on the current lifestyle is what got the nation in such dire straights.
No frugality, no meekness, living on excess credit, overbuying everything, not knowing their business, cutting things off before out of control.

I was building homes and subdivisions during the boom period from 1998-2006. By 2004, it was obvious to me that irrational exuberance had taken over the real estate market. So I sold all my real estate investments in expectation of a market collapse and told everyone I knew to do the same. No one listened. By 2006, I was sold out. Then, I took the proceeds and paid off my home mortgage, car loan, credit cards and all other debts. I stayed out of the market for 2 years, waiting for the bubble to burst. So your statement that John Cox just was a victim of the down market defies common sense. When my property values doubled in a few years, and other people were buying homes one day and flipping for a profit in a few months, it was obvious that the end was near. The same thing happened in the 1920’s, 60’s & 70’s. Bonkers & Nitpickers are right also.

Well because he has been blogging since about 1930 and has seen this before.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

jgirl2000 you really tug my heartstring....ya, I'm really upset about Kathy Cox I've been crying all day. (tongueincheek).

Spare us the drama, jgirl. The Citizen is not telling us anything we couldn't already read in the Atlanta Journal Constitution's front page article last Sunday.

jgirl2000 reminds me of snell/shaquita. Always wanted us to try on their shoes.

You obviously have never owned your own business. You do not think home builders have been hit hard by the downturn in the economy? Ohh, I know, the evil builders and developers...

This is AMERICA, a country where people take chances in business to try and have the AMERICAN dream. I do not know the specifics of this builder and how good of a home they built, but I can assure you many very good buliders are in very big trouble.

This has nothing to do with her job with the state and is really a shame the paper thinks this is news. I would be one thing to report that she filed, but to put the details of her filing out there is pretty low.

I expect nothing less from Cal Beverly. God forbid, you ever fall on hard times.

She should resign immediately and focus her efforts on selling the two 2008 vehicles that she owns. Blaming a failed business on the economy is getting old. I don't know Mrs. Cox and I thought it was a nice gesture at the time when she gave her winnings away. I bet the folks at these banks that are owed this massive amount of money wish she would have paid her obligations first. Now it is left to those who work two jobs and are trying to do the right thing that are responsible to bail someone else out. It's getting old!