Announcement

Collapse

Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as BKForum.com and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do:
BKFORUM.com (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BKForum.com you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.


Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of BKforum.com.

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on BKForum.com are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

Any other new filers having a hard time feeling "wealthier" than before filing?

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Any other new filers having a hard time feeling "wealthier" than before filing?

    I realize with the amount of debt I had (well still have as I have yet to file) my net worth was severely negative.

    Yet with credit cards if I had a car repair, pet emergency, emergency housing repair - I would have been able to pay for it.

    I decided to file awhile ago and stopped paying/using my credit cards. After the BK, this terrible debt I will be in will be gone.

    Not having the cards, and my net worth now being zero with the most minimal money in my bank account (no savings even, just what I can hang onto in my savings account) I am always worried about the next emergency.

    I actually still feel greatly in debt because it is such slowing going trying to save up to pay my attorney fee.

    I realize when the BK is done, a net worth of zero is infinitely better than being in the red with credit card debt.

    Yet I don't know when I will fell true relief financially - things keep happening that deplete what little I am able to put away. I am truly living paycheck to paycheck.

    I've gone from one worry that was constantly on my mind for years (CC debt), to another (no rainy day money).

    Tips on coping?

  • #2
    I am feeling the same way especially if i do not get a chap 7. stopped paying my bill a long time ago. Even if a chap 13 i have no money.

    Comment


    • #3
      We are in the planning/stragey stage of chp 7, husband only filing as he has majority of debt in his name including an out of state rental that is upside down and we subsidize monthly. We are just starting to stop making payments to his CC and missed our first 2nd mtg payment on the rental yesterday. This part is killing us even though it is freeing up some money as we go along. We do not feel any wealthier because we feel so horrible about not paying. But then if we look at the reality of the situation we really were not paying the debt with our own money but actually paying/moving money from account to account to keep up. Once we retain our attorney (some time after September) I think it will get better, I hope anyway...

      Comment


      • #4
        I so hear you. I HATE feeling so poor. We are having a lot of trouble saving for the atty. Had hoped to use tax refund but of course my ancient beater needed a ton of fixing. Need to scrounge up cash to pay tuition so we can continue to get health insurance. Already living pretty low maintenance and not much fat to cut. We've been lucky so far that everyone is well and pray daily for continued miracles.

        I know it's heresy, but really miss my cc's...

        Keep On Smilin'

        Comment


        • #5
          Thanks for all the replies, I thought I would get flamed for missing the "safety" of my CCs. Of course, I do know no debt is the right way and learned to late that credit cards and their interest rates are evil.

          If by some miracle i can make it until my next tax refund, I will be ok. It's a long wait though. The one I just received a few months ago - I stupidly, STUPIDLY used it all towards CC minimum payments. I regret it every day.

          Comment


          • #6
            You're learning something about preplanning your bk. You want to time your filing for when it'll give you the most benefit.
            Simply put, if you can't support yourself on your income, it's hard to see how bk is going to help. You don't want to live paycheck to paycheck post bk.
            Budgeting is a must but, at the end of the day you have to increase your income. Were I you, I'd start looking for a better paying job or, start looking for a pt/weekend job.

            Comment


            • #7
              keepmine is right. You may have felt more wealthy when you could rely on the credit cards. But, it was all an illusion. Kind of like drugs that make you feel better without resolving the real problem. Once you stop the drugs, you still have to face the problem.
              LadyInTheRed is in the black!
              Filed Chap 13 April 2010. Discharged May 2015.
              $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

              Comment


              • #8
                I have a hard time seeing the "Fresh Start" theory for most people. Since we are moving, and can use Fed Exemptions, we are allowed to have a lot of cash. If I couldn't go into bk with a safety net of cash, I don't think I could do it.....not sure what my alternative would be. But since most filers can't have much cash on hand, and then DMI has to be so low .... what do you do when you get an extra large utility bill, or an unforeseen car repair is needed? I don't know about the exemptions for most states, but i think Ohio only allows $425 cash. How can you get that "Fresh Start" when you are only one emergency away from being in the red? I feel like everyone should be allowed at least $5000 in cash, if they can accumulate it.

                Comment


                • #9
                  I'm with the OP and strawberry - we didn't have time to pre-plan...soooo things are VERY VERY tight. I just had to fork out $70 for a USED tire for spouse's car. By payday we'll be down to zero...I'tll be a long time to Sept :-)

                  Comment


                  • #10
                    It IS tough but I, for one, am finally starting to see the benefits. I'm still unemployed but not giving my money to the mortgage company, home loan and cc's, I have been able to seep most of my money in the bank. I did what everyone suggested here and stocked up on 6 months of necessities prior to filing so cash looked dismal but I knew I could at least survive for 6 months. That was an allowable expense.

                    Once my attorney was paid and my case filed, the rest basically now just sits in the bank and I use it as I need it. Sometimes I would say to myself, WHY don't you have more moeny, but then I realize that I had paid the attorney so had to calculate that into my thinking.

                    You learn how to live down when you are so broke - thrift stores, the dollar store, etc.

                    Just hang in there - it does get better.

                    Comment


                    • #11
                      Bankruptcy is the front lines of the class war between the ultra rich and the middle class.
                      filed chapter 13..confirmed...converted to chapter 7...DISCHARGED!

                      Comment


                      • #12
                        I still don't have much money, but it sure is nice not owing several million dollars.
                        All information contained in this post is for informational and amusement purposes only.
                        Bankruptcy is a process, not an event.......

                        Comment


                        • #13
                          peace of mind is priceless. Your "worth" shouldnt be measured by how much money you have or what you "thought" you had by using credit..... but instead by your health, family and true friends in your life.

                          Comment


                          • #14
                            It takes time...The main reason people get into debt is the "need/want it now" mentality (I don't mean that in a judgmental, but it is a reality for most, not all, but most filers) and that psychological addiction isn't going to break just because of filing BK. So the same sort of "want it now" mentality lingers for the relief BK ultimately brings, but that relief takes time.

                            Comment


                            • #15
                              Except the whole economy is based on "need it/want it/now!". If people started saving it would be an immediate depression (not that it isn't already).
                              filed chapter 13..confirmed...converted to chapter 7...DISCHARGED!

                              Comment

                              Unconfigured Ad Widget

                              Collapse
                              Working...
                              X