7 months in.....

[DUMBAGAIN]

Just wanted to give an update. We are 7 months post filing. Things are going pretty well. The budget is tight at times but we are learning to live within it.

Reality has began to set in, like we need a new car for my husband, but the interest rates quoted to us and the terms, will make it near impossible for us to make the payments, not to mention the red tape we have to go through with the court to get permission to purchase.

For the past 5 years we had hoped to move into a house in a different area once our son finishes school next June, but the more we look around for a BK friendly deal, I'm thinking that may not happen.

However, on the bright side, we have a roof over our heads, food in the fridge and we are healthy!

I really believe this is the best thing to ever happen to us. you see we've been down this road before, a Chapter 7 a few years back....(Ok pick you jaw up off the floor), But for us the Chapter 7 was to easy, wiped out all our debt and learned NOTHING.......

I know many of you are in this due to very bad situations, but for us it was just not handling our money correctly, never making a budget, just buying stuff when we wanted it, not matter if we had the cash or not.

Another bright side is we didn't do as much "damage" this time as we had before, we realized what was happening and but the breaks on. We are paying almost everything back, which I'm glad about that to. Again, good lessons learned.

We'll make it, some day we will have a new car and a house, but we will carry this experience with us forever!

Dumbagain

[Universal]

Good for you. Sounds like a good and bright outlook. I think, like most things, the anticipation is worse and more worrisome than the actual event and the adjustment afterwards.

[andysmom]

hi! it's great to hear that you feel good with your new plan and that things are going well. It's actually quite inspiring for those of us just starting out & scared as can be. After hearing so much negativity & what can go wrong with a 13, it's nice to hear some good things.
We're filing chapter 13 the end of this month; we see no other way out of our mess. It's very scary & disheartening after a lifetime of perfect credit & never a missed bill/payment. But, I guess life happens....
Yes, we did have waaaay too much on credit (whole part of the "well I can make the payments" mentality) coupled with some rather large medical bills-all put on credit cards and 3 years of going from 2 incomes to 1 income & a new baby- , then credit cards uping interest to nearly 30% for no reason just because they could & doubling & tripling minimum payments- well, again, life happens...
I'm hoping that this will teach us to budget better and help us dig out of this hole we got ourselves into. I just hope we're lucky enough to get a workable/doable plan and everything works out well. I guess it will have to!

[Universal]

hi! it's great to hear that you feel good with your new plan and that things are going well. It's actually quite inspiring for those of us just starting out & scared as can be. After hearing so much negativity & what can go wrong with a 13, it's nice to hear some good things.
We're filing chapter 13 the end of this month; we see no other way out of our mess. It's very scary & disheartening after a lifetime of perfect credit & never a missed bill/payment. But, I guess life happens....
Yes, we did have waaaay too much on credit (whole part of the "well I can make the payments" mentality) coupled with some rather large medical bills-all put on credit cards and 3 years of going from 2 incomes to 1 income & a new baby- , then credit cards uping interest to nearly 30% for no reason just because they could & doubling & tripling minimum payments- well, again, life happens...
I'm hoping that this will teach us to budget better and help us dig out of this hole we got ourselves into. I just hope we're lucky enough to get a workable/doable plan and everything works out well. I guess it will have to!

I identify completely with you. So far we are doing okay and I hope everything stays that way. I have calmed down so much from reading the posts here, and especially the positive ones. I was truly one hot mess before that. Good luck.

[BKchapter13]

Very realistic post... I believe being in a chapter 13 regardless how we all got here will develope many positive things in our life during/after its completed, it shows plenty of hard responsibilty to finish it up and pay back our debts, (you have to proud of yourselves for that) and not only that it teaches us many creative coping/budget strategies it also tests our relationships making them stronger, durable and much closer. (staying on the same page) There's going to be bumps on the road with a few mountians to climb but that is apart of life. Those times will pass.. Make the best of the situation in the mean time.. Good luck to all