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The Journey Begins!!

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    The Journey Begins!!

    Hello Forum!

    I wanted to start by saying that the information that I have found on this forum is above excellent. When I finally found the attorney I was comfortable with, he was actually impressed with my level of knowledge about the process. That's me though. I research the mess out of everything so I can be best prepared for whatever. Been on the forum awhile, but never posted anything due my lack of actual experience with the whole process.

    A little bit about my me and my case:

    Married, but filed individually (all the debts in my name) and three kids. Household size of 5, and Northern VA resident.

    Totals debts came out to about $229k with about a third of that being student loan debt. 8k in secured (wife's car) but the rest unsecured (credit cards, personal loans, payday loans, lines of credit, overdrawn closed accounts). Didn't buy a house when I moved here because I knew it would be my last PCS and I knew I didn't wanted to take up roots here (boy am I glad I did that lol). Bought and sold houses throughout my time and moves in the military, but knew I wanted to be able to move if we had too without any strings tying us to the state. Plan on moving back down south (GA or SC) when we decided to settle a bit.

    Filed ch13 2/13/2020 and got my 341 coming 3/24/2020. Filed due to 9-month stretch of unemployment after my time in the Army. Initial job (along with both backup jobs) fell through after I finally got out. Was starting to think I was cursed lol. Finally got a job, but that was paying less than what I was making while I was in (miss those tax-fee benefits lol). Wasn't unprepared money wise for some period of unemployment, but things happened during that time, plus I didn't want the wife leaving grad school to get a job.

    Shout out to my awesome attorney who not only came up with a great plan (hopefully it doesn't change lol), but also kept pushing me to make sure I was getting everything done he needed paperwork wise. I did drag my feet a bit a couple times, but he hung in there with me. Plan payment is $605 each month for 60 months, but doesn't include the car ($370/month). Plan says creditors will get 16%.

    Attorney even worked it to keep my tax refund (this year) and getting my money back from garnishments as well. I think the 13 is perfect as we never had issues working a budget before, and I grew up an inner city Atlanta have not, so I know about doing a lot with a little . Trying to be a + in that successful ch13 plans percentage column.

    My wife and I both work full-time. Have a decent income for where we live because I commute up north near DC for work everyday. Had my clearance already, but made sure and list everything I had going on finance wise on my SF86 and security questionnaires. Actually got the bankruptcy idea during my re-investigation interview. I was part of the bunch that thought bankruptcy was a security clearance killer. But she assured me it wasn't and even said she had recently interviewed quite a few people in active bankruptcies that were doing fine, albeit making sure all their finances were in order after they filed. Honesty seems to have helped me along the way as I never tried to hide my situation, nor my intentions once I knew I would file.

    All in all, I am extremely happy, relieved, and feeling good about the whole process. I never been so stressed about finances as I have the past couple years, but really got a positive outlook about everything, and I wanted to share that with everyone here. Know not everyone has a positive experience with it, or stays stressed out even while its going on, but to those I say, look at the big picture. Every day forward in bankruptcy is a step closer to financial freedom and breaking of the chains that drug you into the process in the first place. At least that's how I am choosing to view it. Already had my PACER account set up, and got my NDC account going now to keep track of everything.

    Looking forward to the journey and I will continue looking through forums to be of help and use those that I can, if I can.
    Last edited by Macc404; 02-18-2020, 11:51 AM.

    #2
    Macc404 - congratulations for taking the first step to financial freedom. We look forward to hearing about your journey and helping you with any questions you may have.
    Filed Chapter 13 - 07/20/12
    Discharged 8/2/16

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      #3
      Macc404 - Wishing you the best. Looks like we are going to be in this ride together. I filed my Chapter 13 with 60 month plan January 29, 2020. Also Agree this forum is really good providing great information.

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