I have regrets about filing Ch7...

[cana]

not earlier.

All these time trying to pay, negotiate, etc, was not worth it.

When I first entered this debt situation, I got advice from a self-righteous site which I prefer not mention here. I'll just mention that the site promotes doing a 'happy dance' when a cc is paid off.

They all advised against a BK, including somebody who was going to pay off his debt ten years later at best.

They mentioned moral fiber, responsibility, all these stuff. I listened, and added two unnecessary years of struggle to my life.

Due to a bunch of unforseen circumstances, however, it became impossible to fight the creditors (two of them were suing me, I have mentioned earlier).

It happened just in time before the Oct 17 deadline. If one of them waited only one more month before filing the suit, I would be paying them for the next 60 months, amounts I could ill afford.

Few of us ended up in the BK court because they were deadbeats. Life has its ups and downs, and it's better to bite the bullet than die fighting.

[FilingOnMyOwn]

Right on, you did the right thing. I too fought it for years. But when a cc company jacks your interest rate from 6% to 27% because you have a late payment, it really becomes out of your hands. As if the late fee wasn't enough, they make the decision that they really don't want their money back by being excessively greedy. Even then I tried for so long to make things right, but ultimately, the cc company screw themselves, by making unrealistic demands and expectations. Finally decided theres nothing I could do about it anymore. And there wasn't. Did what I had to do. And I didn't bite the bullet. The cc company bit their own.

[newstart]

not earlier.

All these time trying to pay, negotiate, etc, was not worth it.

When I first entered this debt situation, I got advice from a self-righteous site which I prefer not mention here. I'll just mention that the site promotes doing a 'happy dance' when a cc is paid off.

They all advised against a BK, including somebody who was going to pay off his debt ten years later at best.

They mentioned moral fiber, responsibility, all these stuff. I listened, and added two unnecessary years of struggle to my life.

Due to a bunch of unforseen circumstances, however, it became impossible to fight the creditors (two of them were suing me, I have mentioned earlier).

It happened just in time before the Oct 17 deadline. If one of them waited only one more month before filing the suit, I would be paying them for the next 60 months, amounts I could ill afford.

Few of us ended up in the BK court because they were deadbeats. Life has its ups and downs, and it's better to bite the bullet than die fighting.

Cana,
I may be misunderstanding your post but I'm not sure, are you sorry you filed bk or are you being sarcastic? It sounds to me like you were trying to make an informed decision and other people were putting you down, am I on the right track.

[StaciMM]

I think I know what you mean Cana-not so much that you regret the BK, but regret being in the situation where you had to do it. (If I'm presuming too much, forgive me!)

I don't feel bad-no one went hungry or lost a job because we filed. I am not proud of it-I wish that I had made better decisions, planned better, etc. but no one can turn back the clock. I'm happy for those who are able to pay off their credit cards, but I realize that each person has to find the road that works best for them.

[cana]

I regret filing bk not earlier. That was what I was trying to say...

[newstart]

I regret filing bk not earlier. That was what I was trying to say...

I understand now, you regret not filing earlier. I see now. I had people tell me I shouldn't file I didn't have enough debt and that I was doing fine. People on the outside can never truly now what you are going threw and bankruptcy is definitely a personal evaluation of yourself and your needs. I am glad I filed and now I can get on with my life. If you are happy about filing I am happy for you because it certainly can relieve your financial burdens and give you that second chance. God bless you.

[SinkingFast]

Hubby asked me what I thought he should do about something the other day and I told him I wasn't the person to ask. The last 18 months, I've researched and pondered over a lot of things before we actually did anything one way or another. Instead of getting better, things just kept getting progressively worse. His response to me, and I thought it was really very nice,......... "You're seeing all those decisions now with the benefit of hindsight. We made the best choices possible at the time and things just did not fall into place for us."

I'm kinda in the same boat. I wish we'd filed sooner and be on our way to having this behind us. But, Nooooooooo, we wanted to be moral, have integrity, pay our debts, so we just kept hanging on, fighting for something to be better as it only got worse and worse.

[bandrat]

I don't know which self-righteous web site you are referring too, but their point of view seems incredibly 'foolish'. Am I getting warm?

[bilbo]

Is that the same site that tells you it DOES help your FICO to pay CA's? And that filing BK will drop your FICO 200 points????

[cana]

bandrat:

Yes, their point of view proved to be kind of Foolish...

[chibroke]

I sort of feel the same way. I wished I would have done this sooner. I could have been 6 months farther ahead than I am. It's true that it's one of the most personal decision one could make, and I certainly didn't make it lightly.

[robivi3]

Cana, what those people fail to see is that sometimes it is the only option left. BK is bad, yes but it happens. What about those who loaned you money when they saw your situation was hopeless? Where is their responsibility in all this. Moral fiber, ok, but you can't eat it. Personal responsibilty, yes, I did it, but only a fool loans money when someone can't be expected to pay. You did the right thing by filing.

[KevinR]

I've second guessed myself a lot lately. Haven't filed yet, but probably will by the end of the month. I've come up with crazy schemes on how to dig out without filing, some of my family members think I shouldn't because it's "wrong".

But ultimately only YOU can decide if it's right to file or not. I believe in living up to your responsibilities too, but sometimes you simply make some bad choices that put you in a hole too deep to climb out of without help. If you do the math and can't see a way out, and the court says you qualify, you should do it and ignore the people who think they know more about your finances than you do.

[BassBoy]

What about those who loaned you money when they saw your situation was hopeless? Where is their responsibility in all this. Moral fiber, ok, but you can't eat it. Personal responsibilty, yes, I did it, but only a fool loans money when someone can't be expected to pay.

You hit the nail on the head.

[BassBoy]

I wish I would have done BK sooner as well. I too would be further ahead and I wouldn't have wasted my time trying to find someone to help us out of this situation.