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Had my bankruptcy consultation today

Posted: Sep 23, 2014

I asked for advice on here a few months back. I was terrified but soooo glad I went!! I think I am going to file chapter 7 alone. My husband owns property from an inheretence so we want to avoid that being taken. It is like a huge weight has been lifted off my shoulders. I will admit I was addicted to credit card use. Then I had an accident in 2011 and medical bills started piling up. It will be nice to start over and NOT be dependent on credit cards. I will be glad to be free of them finally. My advice to anyone else is that you aren't alone and this isn't the worst thing that can happen to you. I had suicidal thoughts enter my mind because of this tremendous burden (over 50K in debt with medical bills). I kept putting it off because I thought money would miraculously fall from the sky or my husband's side projects would take off. Facing the music and taking responsibility for my mistakes was incredibly liberating. I will be starting the process in a few months and am actually looking forward to it.

;

good for you. - nana7

[ In Reply To ..]
Here's my take on it. If corporations can file bankrupcy to screw the workers out of pensions, cities file bankrupcy (I live in a suburb of Detroit) because of a crooked mayor who bled the city dry and to screw pension holders out of money why can't we.

I filed 2 years ago and it was the best thing I did. What ended up helping me out was my husband has his own credit cards and I am authorized user on 3 of them. Because of those cards being reported to the credit bureau within 1 year of the bankrupcy my credit score went from 550 to 710. So if your husband has credit cards of his own have him get you cards and as he pays on them it helps your credit score, but you are an authorized user and you are not responsible for the bills. Technically those cards are not supposed to be on my credit report but since they report it I will benefit off of them. Playing by their rules.

Just a suggestion that helped me out tremendously.

Thanks Nana7! I think I will do that too - East MT

[ In Reply To ..]
x

Just because others do it, it does not make it right - see message

[ In Reply To ..]
It isn't right when corporations do it and I do not think it is right when people are irresponsible and do not take care of their personal business. I understand that in some cases it may be the only legitimate option.

If the person was out buying trendy handbags, fancy lunches on credit cards instead of paying for health insurance, they should not be allowed to get off without paying for their debts.

If a person was using credit to pay for food or other necessities of daily living that would be different. Or if a person got cancer and the bills stacked up so high it was the only way out, then I think that would be different.

However, there is someone who is left holding the bag and not getting paid for their services. It may be the doctor and hospital who will now charge more to everyone to cover for an irresponsible person with a very pretty handbag.

When you start over - sm

[ In Reply To ..]
Will you have health insurance going forward?

Yes I am on my husbands account - Happy coder

[ In Reply To ..]
x

COST - Effie

[ In Reply To ..]
How much does a BK cost? With work so slow I may be needing to do this..

chapter 13 started at $68, chapter 7 is 1300 but - Happy coder

[ In Reply To ..]
you are really paying about $3000 for 13. That $68 is kind of like a down payment. What happens with 13 is you agree to pay a set amount for 5 years back to your creditors. The lawyer's fees are rolled into that 5 year settlement. In that time, you cannot open new accounts, take out loans, etc. However if you pay the $1300 up front that's it, it's all over. You begin rebuilding your credit asap. That's one reason I am going with 7. The only upside I saw was being able to roll my car payment into the 13 and have a lower payment every month BUT I am only paying on my car 2 more years and then I would own it. So I would much rather own my car outright and not have any payments due.

Just a warning to keep on top of things--sm - anon

[ In Reply To ..]
My sister was doing a 13 and it is now being converted to a 7. On the 13 they were not paying the car payment as they should and they are worried about repossession until they get it straightened out. The trustee is being sued for misappropriation of funds. Just like everything else, do not assume everything is being taken care of they way it should, always investigate.

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