I`m so glad I found this web site. It`s nice to be able to learn from other people who are in the same boat as I am.I don`t feel like I could talk to anyone around me for fear of being looked down upon.We filed a chapter 13 1 year ago after racking up massive credit card debt and erasing it with equity loans on our house three different times. Finally we had a mortgage 190,000 equity 86,000 and believe it or not 129,000 in cc debt. Although my wife and I make very good money, 116,000 yearly at the time. When I sat down and realized where our finances were at, I realized we made just enough money to pay all the minimum payments but would never actually pay any balances off. I also was aware of the new law which allowed cc companies to increase your interest rate if they saw a late payment to any other account on your credit report. When we filed we were`nt late on any payments but I new it was just a matter of time. We filed in december of 06 and even though we have a 75% payback over 60 months, 415 weekly. Short of winning the lottery,I knew it was our best option if we were ever going to have a clean slate again. I have already forgotten what question I initially had for this forum, but thanks for letting get that off my chest. We will look forward to reading more stories and sharing in the future. Again thanks to the originator of this site.
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