The Bankruptcy Ride

[fellowpoorman]

I imagine most if not all of you here are thinking of bankruptcy , trying to decide if its the right thing for you, others are in the midst of it , and others are done with it. Certainly this is something that should be thought thru completely, you need to do the homework! This is a serious thing that will affect you for years to come in ways we have not even thought of, but is a second chance, there is no feeling like starting over again, we've been through hell, finacially and emotionally, and we had better have learned a lesson. There are many reasons why people end up in a BK, some within our control and some not, I can only speak for myself on this issue, most of it was CC Debt for me, not all but most, I wasn't irresponsible most of the time , I made my mistakes for sure, but when it all started "snowballing" there was no way out, and it got totally out of control, I take most of the blame, but I also blame these CC companies, they know when we are in trouble, yet feed the fire, get the drunk a drink. I always thought I'd be able to catch up. Then came the loss of work and that was that. I'm working now, but no where near where I was before. Life happens. Deciding to take the plunge was hard, alot of sleepless nights and constant worry, I hope I did not shorten my life too much from stress. The first atty consultation really put things in a better perspective , and reenforced the idea that this is what I have to do in order to regain my life, I sure was tired of collection agencies constantly calling me , and my neighbors and relatives, thereatening lawsuits and being just plain rude, trying to break me down. Believe me when I say I was afraid to get the mail, answer the phone, and answer the door, I have heard all kinds of stories. Getting the paperwork ready for filing was also a pain, I am (was ) one of those who never saved reciepts, pay stubs etc. I was fortunate to be able to retreive what I needed though. Then Filing day finally arrived, still got a few phone calls but they gradually decreased and ended. Fear turned into just plain nervouseness, I was a wreck , my friends knew something was up , tho I didn't say what, my family knew but all were supportive. The pre 341 days had to be the worst, the worrying if the trustee was gonna take me to the cleaners , even though I am no asset, its funny the things you devise in your mind, is all the paperwork done right?, what about this? what about that? What if my car breaks down going to the 341? All that worry and stress, just to hear the trustee say "You will get a discharge, barring any objections" 30 days of hell for 5 minutes of routine questions! Why do we do this to ourselves, Then the 60 day wait, gotta admit most of it was easier than I thought, afterall there was nothing I could do but wait and talk on the "Forum", which has been great and alot of fun too, It got me through the 57 days, the last 3 were kind of a blur as the worrying started up again, but it passed and there were no objections, then finally 6 days later the discharge was posted, still waiting for closing. But I really feel like a new person and things are looking up, a new start with a better idea of finances. I hope everyone has success here, you alll have been great and I thank you, except John234, the Lightning guy, but I do hope you too can learn to be happy. Anyway just blabbing, I plan on sticking around and helping others if I can. Good luck all!!

[Minnymouth]

Nice Success Story, And Great Advice........

[aa06a47]

Thanks for that story FPM. I know you'll be successful post BK

I have went through alot of phases, blaming the cc companies for the high limits (yes, they loaned money they should not have), blaming the high interest rates (yes, changes occured which make the interest rates go sky high) but mostly it was me,not recognizing my problem and doing something about it before it got out of control.

The important thing I am taking me with through this BK is that when it is over, there will be no need for credit cards with limits of 50-60K. If/When I build my credit up, I will not allow a total credit limit greater than 20% of my yearly income. That should keep me out of trouble.

[SinkingFast]

We got a sad letter in the mail today. The notice of Foreclosure on our house. It goes on the auction block later this month.

I'd happened to call the paralegal about another matter and left a message on her voicemail. So I'd gotten the letter in the mail before she returned the call. She asked if I'd fax a copy of the letter or bring it by the office so the attny could put the Lender's attny firm on the address notice list.

I was going to be out running around anyway, so I said I'd drop it by the office. When I was there, and the receptionist was making copies, the attny came by the front desk. I was pleasantly surprised to know that he remembered me and knew who I was.

The attny said the oddest thing during our short, few minutes conversation.

The attny said he didn't believe in BK as a cure. BK is only a means of last resort to him. He won't file for anyone that comes in thinking BK is a panacea. He has to truly believe that you need the help, can't turn the corner without it, and will turn your lifestyle around, or he won't represent you.

Interesting thoughts from a lawyer that makes a living filing BK's for people.

[fellowpoorman]

Minny if i could I would close your case, you are wonderful, always informative and positive. Thanks

[aa06a47]

We got a sad letter in the mail today. The notice of Foreclosure on our house. It goes on the auction block later this month.

I'd happened to call the paralegal about another matter and left a message on her voicemail. So I'd gotten the letter in the mail before she returned the call. She asked if I'd fax a copy of the letter or bring it by the office so the attny could put the Lender's attny firm on the address notice list.

I was going to be out running around anyway, so I said I'd drop it by the office. When I was there, and the receptionist was making copies, the attny came by the front desk. I was pleasantly surprised to know that he remembered me and knew who I was.

The attny said the oddest thing during our short, few minutes conversation.

The attny said he didn't believe in BK as a cure. BK is only a means of last resort to him. He won't file for anyone that comes in thinking BK is a panacea. He has to truly believe that you need the help, can't turn the corner without it, and will turn your lifestyle around, or he won't represent you.

Interesting thoughts from a lawyer that makes a living filing BK's for people.

Attorneys just can't keep from lying can they LOL!!!! I would imagine that most attorneys don't get visits from many people who don't need it. But that is just my thoughts. I know my sorry butt would have never graced one of there offices if I truely didn't have any other option.