It would be nice to see your personal list of creditors and amounts for everyone

[Overmylimit]

So when you shut down your business, did you have to show it was closed and if so how? Just a cancelled business license or checking account?

[Overmylimit]

Sounds like a good plan. I live in Ca also, some people just don't realize how crazy it is here.

[BROKENN]

Brokenn, I saw in the other thread that your debt was almost identical to mine. If you don't mind saying were you in business and if so how long after you stopped using the credit lines till filing? Also how is it going so far..

Hi, We bought the business 4 years ago with a SBA loan. We started having problems a year ago or more due to the housing market. We fell behind in our payments so they cut us off. We worked off of cash for the year instead of paying the full amount due. We saw this coming. Our lawyer said we had to close the biz which was not hard by then as I wanted my DH to hang awhile with me and not keel over so I didn't mind. We are moving to another state to get a fresh start!

[Overmylimit]

1.4m

Brokenn, I saw in the other thread that your debt was almost identical to mine. If you don't mind saying were you in business and if so how long after you stopped using the credit lines till filing? Also how is it going so far..

[debtmonster]

Yep... $3.2M would probably take a couple lifetimes of my income to pay.

[BROKENN]

My highest case was 3.2 mil. Tons of CC, medical bills and several properties all with 2nd and 3rd mortgages. This was a personal Ch 7 not business. Discharged!

Holly smokes...... That one is new!

[BROKENN]

1.4m

[tazzy20176]

Boa $4000
amex $17000
chase $5000
citi $5000
cu $9000
cu $15000
cap 1 $3000
norsdtrom visa $5000
dell $1500
wells fargo $3000

total=$67500

plan to file chap 7 in feb 09.

[debtmonster]

Chase - 20k
Citi - 2k
BoA - 500.00
Bank card - 6,500
Various store cards - 2k

Total came out to around 30k

We also have 30k in student loans, which of course aren't dischargable. However, with the 30k in CC debt, were unmangable.

Our bills SKYROCKETED over 6 months due to medical. Put all of our bills on CC. So we have no "medical debt" because it's all CC debt.

Keep us posted of your outcome. A friend of mine has almost $30k in old debts and he's been talking to me daily about whether to file Ch. 7 or not... or make a deal with the CC companies and pay 1/2.

[biggomez777]

Chase - 20k
Citi - 2k
BoA - 500.00
Bank card - 6,500
Various store cards - 2k

Total came out to around 30k

We also have 30k in student loans, which of course aren't dischargable. However, with the 30k in CC debt, were unmangable.

Our bills SKYROCKETED over 6 months due to medical. Put all of our bills on CC. So we have no "medical debt" because it's all CC debt.

[debtmonster]

I have read two posts from OLD hack.. They both seem to be negative.

People here are trying to either find help or decide if they should file. Seeing real life examples help provide a comparative view of where people are\were when filing. Someone may be on the edge of filing and come across this post help them make the final decision on whether they should or should not file. In addition, the person may identify with one particular post\poster and may want to read all the individuals prior post(s) to see what challenges they faced and what questions they have asked. Further more, these posts listing debts will make it real for the person that may still be in the denial stage.

I concur with the above. That's why I wanted people to post their real debts.

I just added some more to my list. So far I'm up to $224,000 and counting. I have a long ways to go!! I have a ton more creditors to add to the list yet.

[Mi Bankruptcy]

Hmmm -- guess I don't see the vicarious thrill in viewing folks' failure -- and that's what bankruptcy is, whether it be ambition failure, professional failure, or a failure of financial acumen -- but I seem to be a piker compared to some of these figures, which may explain why my Chapter 13 creditors (sorry -- that's all I could qualify for!) will receive almost 80% of their claims.
In any case, I'm 6-10 weeks away from my final payment, and the trustee estimates a 4-6-week period to discharge. I'm told my chances of getting approved then for an FHA mortgage in time to take advantage of the federal $7,500 tax credit on a first home by July 1 is 50-50 or better, even today. So, I'm happy enough.

I have read two posts from OLD hack.. They both seem to be negative.

People here are trying to either find help or decide if they should file. Seeing real life examples help provide a comparative view of where people are\were when filing. Someone may be on the edge of filing and come across this post help them make the final decision on whether they should or should not file. In addition, the person may identify with one particular post\poster and may want to read all the individuals prior post(s) to see what challenges they faced and what questions they have asked. Further more, these posts listing debts will make it real for the person that may still be in the denial stage.

[Stilltheone]

I agree. Nobody said it was a "thrill", but it's nice to see that other people are in the same boat as you. It's nice to feel as if you're not alone.

I don't see bankruptcy as a failure...a mistake? Yes, but not a failure.

[debtmonster]

Hmmm -- guess I don't see the vicarious thrill in viewing folks' failure .

Nobody said it was a thrill. It's just to give the viewers an idea of real scenario's of people considering bankruptcy who have not done it.

So far I have not seen any real-life scenarios until this post. Now there's a lot here and it's growing daily. We should almost have a nice database to put together. If we could get like 1,000 people to fill it out, then we could possibly get good averages, income levels, states and all sorts of interesting information that the public has never seen before.

[hopingforsanity]

sears mastercard: 2,700
Amex: 5,400
discover: 9,800
bank of america: 2,700
Providan: 10,200
citiloan: 5,500
paypal: 190
Ge line of credit: 17,900
Discover rewards: 5,300
brylane: 36
Hsbc: 9,900
Chase:4,700

This is when they were current. Now these balances are outrageous.