think it's a reasonable thing to do to allocate some of your resources to owning a home. >> rick: patricia powelld founder of the powell financial group. always nice to have you on. >> thank you. >> rick: arthel, over to you. >> arthel: very interesting. some controversial comments from vice president joe biden. after a felon nearly win has democratic primary, why he says, quote, he doesn't blame people and what this could mean for the president's reelection effort [ mrs. hutchison ] friday night has always been all fun and games here at the hutchison household but one dark stormy evening... there were two things i could tell: she needed a good meal and a good family. so we gave her what our other cats love, rina cat chow complete. it's the best because it has something for all of our cats! and after a couple of weeks she was healthy, happy, and definitely part of the family. we're so lucky that lucy picked us. [ female announcer ] purina cat chow complete. always there for you. and i thought "i can't do this, it's just too hard." then there was a moment. when i decided to find a way to keep goin

joining us to do that, patricia powell, founder and ceo of powell financial group. she is a smarty. for those who have fofile bankruptcy, we want them to be able to take charge and do it right. so the impact isn't as devastating. when is it a good idea? >> well, when you really need that second chance. america's just a country full of second chances. so if your debt is so out of control that you just can't manage the required minimum payments, it is a red flag to say, maybe this would work for me. if the kind of debt that you have is the kind that can be dealt with in bankruptcy, not all dealt can be dealt with -- >> jamie: that's interesting. what about student loans? >> you can't get rid of your student loans, with very few exceptions. you can't get rid of court-ordered child support or alimony or a drunk driving conviction and a judgment against you, you can't get rid of that kind of thing. you can't get rid of taxes, within certain limitations. so you have to make sure that the kind of debt you have can be dealt with in the bankruptcy. >> jamie: you over-did it on your credit ca