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

[debtmonster]

I am not going to list each one, but the total was 162k, CC's and SUV.

1. How much money was the average household income per year at the time you incurred the debt. mid 6 figs

2. How much was the household income at the time of discharge. lower 6 figs

3. What state you live in. California

Debtmonster - no one made you apply for the credit, so I don't see how you can hold the banks responsible for what you did.
As for the high CLs, most people have the income to support them. My highest cards were 50k(had a few of them) and my lowest was 10k.

The median income in California is about $60k. How were you able to qualify the means test with $40k+ above the median?

[Cali]

dup

[Cali]

dup

[Cali]

I am not going to list each one, but the total was 162k, CC's and SUV.

1. How much money was the average household income per year at the time you incurred the debt. mid 6 figs

2. How much was the household income at the time of discharge. lower 6 figs

3. What state you live in. California

Debtmonster - no one made you apply for the credit, so I don't see how you can hold the banks responsible for what you did.
As for the high CLs, most people have the income to support them. My highest cards were 50k(had a few of them) and my lowest was 10k.

[Lajazz947]

When did you stop paying you Cc's (how many months) and did any file garnishments etc. Working on a timeline for my eventual filing.

Thanks

I stopped paying my CC's and revolving lines in March '08 (approx).

It has taken about 6 months to charge them off. I have a few letters from collection agencies and a couple of law firms but nothing more.

I have a host of issues to work with. I will post as soon as I get going.

[albacore44]

Our attorney says we file next Monday, possibly sooner:

Keeping home: $772,000 owed, no equity
Keeping car: $18,000 owed
CC debt: $150,000 owed
Medical bills: $5,000 owed
Revolving lines: $70,000 owed

We are way over ther median in California but my attorney feels confident that we can get to in his words " the promised land of chapter 7".

If for no other resaon I like him for that attitude.

The filing could not come at a better time with both my in laws sick and my wife worrying about them. We need to get this overwith to restore some sanity to the house and salvage the holidays.

Most of the debt has been charfed off but Chase calls a good 15 times a day for the remaining accounts that are ready to be charged off.

When did you stop paying you Cc's (how many months) and did any file garnishments etc. Working on a timeline for my eventual filing.

Thanks

[Lajazz947]

Our attorney says we file next Monday, possibly sooner:

Keeping home: $772,000 owed, no equity
Keeping car: $18,000 owed
CC debt: $150,000 owed
Medical bills: $5,000 owed
Revolving lines: $70,000 owed

We are way over ther median in California but my attorney feels confident that we can get to in his words " the promised land of chapter 7".

If for no other resaon I like him for that attitude.

The filing could not come at a better time with both my in laws sick and my wife worrying about them. We need to get this overwith to restore some sanity to the house and salvage the holidays.

Most of the debt has been charfed off but Chase calls a good 15 times a day for the remaining accounts that are ready to be charged off.

[hnhlvr]

My debt which I've defaulted on:

Citicard #1 = $9,000
Citicard #2 = $2,500
Home Depot = $2,000
Bank of America = $8500
WAMU = $10,000
Target = $9,400
total = $41,000

*** CAR LOAN which I'm paying on $6,000 (so I don't include in total defaulted amount)

These are the amounts I owed BEFORE I defaulted. Now, each month, each card goes up $2-500 w/interest & fees.

Other debt in Dh's name $40,000
INDY MAC $412,000
Wells Fargo HELOC $128,000

[hnhlvr]

Amex - $150,000
Capital One - $6,200
Chase - $13,000
Citi - $14,000
Discover - $30,000
Wells Fargo - $75,000
Wamu - $15,000

First $550,000
Second $150,000

$1,003,200 ............DOH!!!!

How did you end up with $150K on Amex? Was that a business loan?

[WoodSprite]

...there's NO WAY to live on $37k anymore.

I'm raking in the princely sum of $23,920 - before taxes. I was fairly amazed to find this statement from our local "living wage" advocacy center:

"A living wage is the amount of income and resources (such as health insurance) needed for an individual or family to meet its basic needs without public or private assistance. According to a study done for 2007 by the [local credit union], a single individual without children needs $20,450.21 for the year ($9.83/hour for a 40-hour week). "

No, this is not Arkansas - this is in NEW YORK. Upstate NY, but NY. These are kind, idealistic folks who give generously of their time and talent because they want to help those less fortunate, and they think I'm making a living wage. It must be true, though, since I'm ineligible for HEAP or any other sort of assistance.

I'm not complaining...I'm doing okay. I've made choices that put me here, rather than in the city where I was making good money - and I've never regretted those choices. I've got a tiny roof over my head, all the firewood I can split, reliable transportation, food to eat, and NO DEBT. And I ride our rural bus route with people who do qualify, so I'm reminded of how fortunate I am every day. I'm happy, and I'm grateful.

But man...how bad does it have to get before it hits the radar?

[debtmonster]

I've been working in I.T. my whole life. In I.T., you are considered a dinosaur at 40.
My career is done. I have to do early retirement. I need my money now to last me until I die. I can't wait until I am 67. I will most likely die from cancer long before then.

[Flamingo]

I just feel like the "American Dream" is crap.

I come from a working class family, busted my neck to get to college

I got great grades in college and won awards even...


I got out of school and wanted to give back so I took a job helping people.

Helping people does not pay well and here I am as poor as my clients...

This feels unfair!!

Depending on your age, you can always go back to school and change careers or better your degree. Lots of people have to do this throughout their careers as demand may change for certain positions or you will have to possibly consider relocating. Healthcare is the booming industry now with an extreme shortage of nursing and skill technical personnel (i.e., radiologists, medical assistants, ultrasound techs, etc.). Our life is what we make it. Unfortunately as you get older, it is more difficult to change things as there is definately age discrimination out there so choices in your 20s and 30s are critical.

[inpain66]

I just feel like the "American Dream" is crap.

I come from a working class family, busted my neck to get to college

I got great grades in college and won awards even...


I got out of school and wanted to give back so I took a job helping people.

Helping people does not pay well and here I am as poor as my clients...

This feels unfair!!

[debtmonster]

I didn't finish college and I was making as high as over $70k/yr.

But yeah, you're absolutely right... there's NO WAY to live on $37k anymore. $60k is the old $30k with inflation. The houses that used to be $95,000 are now $320,000. The gas that used to be $1.04 is now $3.04. The new cars that used to sell for $8000 are now $17,000. The milk that used to be $2.00 is now almost $5.00.

That's why your $37k doesn't go anywhere.

I am afraid to go back to college. I'm almost 41 and by the time I finished, I would not get enough usage out of a degree to make it work the while. I'm having health issues and don't expect to live long anyway.

[inpain66]

My income 37 K a year..take home is LESS THAN 2K a month!!!!! Even if the credit cards and personal loans were gone I barely would get by with rent, student loan payments and car payment. I need my car cuz without it I would be jobless too.


I am starving..eating low nutrition foods like ramen noodles and sardines every meal. This is not living. I hate this

My debt:

Student loans 43 k

CU loan 10 k

Car loan 16.5 k

Citi loan 7k

Visa 3.5 k

Bestbuy 3.8 k

Homedepot 1k

Store card 900

store card 300

store card 900

How did I justify having these cards with my income?

I regret going to college. It is going to keep me poor for the rest of my life.

I am never going to get out of this