Compared to all the stress

[ladyjenn]

of deciding to file BK, then deciding to not pay the cc (we were still current some how), and the stress of worrying when the crediotrs are going to call...Do you all think it was worth it? I am a mental and emotional wreck. It is all over the "not knowing" part, since we have only retained a laywer and haven't spoken with him about exemptions and such yet.... I know this is the right move, and at times I am relieved. Most of the time however, I am just a wreck worrying about this and worrying about that!
Any advice?

[MSbklawyer]

Any advice?

Yes:



About 3 of them then call your lawyer. At home if necessary. Make him explain everything to you. It's what you're paying him for.

[JKPDX]

It's OK, Ladyjenn...you will do just great! I too was current on everything up until the moment I filed. I even paid my credit cards a few days before I filed. My attorney just said, "why did you pay those? They are going to be discharged. You could just have well thrown the money out the window!" It was a great relief to file and just see an end in sight. The creditors did call for a while; trust me, you will start to learn the numbers. Put your cell phone on silent as they call every couple hours. I started keeping count, I gave up after 80 "missed calls." Most of the time it is just an auto-dialer anyway.

I received my discharge about a month ago and it is so nice to be debt free (sans the car and the house).

This forum is a fantastic way to do research and benefit from the wisdom and experience of others. Remember, we are all in this together!

[ladyjenn]

It's OK, Ladyjenn...you will do just great! I too was current on everything up until the moment I filed. I even paid my credit cards a few days before I filed. My attorney just said, "why did you pay those? They are going to be discharged. You could just have well thrown the money out the window!" It was a great relief to file and just see an end in sight. The creditors did call for a while; trust me, you will start to learn the numbers. Put your cell phone on silent as they call every couple hours. I started keeping count, I gave up after 80 "missed calls." Most of the time it is just an auto-dialer anyway.

I received my discharge about a month ago and it is so nice to be debt free (sans the car and the house).

This forum is a fantastic way to do research and benefit from the wisdom and experience of others. Remember, we are all in this together!

I am afraid they will take my husbands share/interest to the cabin away. It would be worth $5K if he sold, but I am thinking we can exempt it some how. We are keeping the house and the cars (they are paid off). I would really like to get a lower interest rate on the house as we are at 9.63% now with no equity in the house and a 40 year mortgage....
Any thoughts on that ? If we have always been current with the mortgage do you think we could re-fi after we file? We can't before as we need $450 for an appraisal, that we don't have because every penny goes to the lawyer. PLUS, I am not even sure you can re-fi right before filing?

[ladyjenn]

The creditors did call for a while; trust me, you will start to learn the numbers. Put your cell phone on silent as they call every couple hours. I started keeping count, I gave up after 80 "missed calls." Most of the time it is just an auto-dialer anyway.

Did you refer them to your lawyer? I though once you filed they HAD to stop calling you. Or did you have to wait to file (save money for lawyer) like us?

[AngelinaCatHub]

Ladyjen:

All of your emotions are perfectly normal, and we have all had them as you are now.

MSBKlawyer (LOL) had the right solution, J Daniels + Coke X 3, then call your lawyer, it truly is his job. You are paying him to do your worrying. That is what one of my good lawyer friends told me when I was in suit with my enemy.

For what you owe on the house, wouldn't it be more prudent to let it go, rent from the other partners share of the cabin, then purchase the shares from them after bk? Only a thought. 'Hub

[ladyjenn]

Ladyjen:

All of your emotions are perfectly normal, and we have all had them as you are now.

MSBKlawyer (LOL) had the right solution, J Daniels + Coke X 3, then call your lawyer, it truly is his job. You are paying him to do your worrying. That is what one of my good lawyer friends told me when I was in suit with my enemy.

For what you owe on the house, wouldn't it be more prudent to let it go, rent from the other partners share of the cabin, then purchase the shares from them after bk? Only a thought. 'Hub

The cabin is a hunting cabin. Old and run down, w/ no electricity. Not a place to live. However, they use generators at hunting season to make it work. It is on almost 500 acres and provides meat for our family. The $5K is what he would get if he were to sell his share and not be able to hunt there anymore. PLUS, the cabin has been in the family for a long time. His great uncle actually handed down his share to DH.
I would really like to keep the house and if we can't re-fi now, I am sure in a year or two after filing, we could?

[AngelinaCatHub]

The cabin is a hunting cabin. Old and run down, w/ no electricity. Not a place to live. However, they use generators at hunting season to make it work. It is on almost 500 acres and provides meat for our family. The $5K is what he would get if he were to sell his share and not be able to hunt there anymore. PLUS, the cabin has been in the family for a long time. His great uncle actually handed down his share to DH.
I would really like to keep the house and if we can't re-fi now, I am sure in a year or two after filing, we could?

OK, so he doesn't really own much there. The cabin would have to be legally sold and I doubt his family would wish to do that. List it but it is not practicle for a Trustee to be bothered with the amount of paperwork it would take and WHO other than the family would be interested in that cabin or allowed by the other partners whom I assume are family to purchase his share? I really think such a thing would be abandoned as the Trustee would have to go to great pains to recover anything. Hubby should tell at the 341 that, that asset he is WILLING to part with, but the hubby would not know how to market it and that the Trustee will have to do it himself. The Trustee will not wish to do that, I am convinced. 'Hub

[ladyjenn]

On the by-laws, it states that if a member wishes to sell his share, the cabin would pay $5K for that share, to buy it back from him. I don't think it would be that hard. However we own a house that we have less than $1K equity in, so I am sure we can use the Federal exemption for homestead to cover the share to the cabin?.

[maxwellv8670]

I was the same way, "The not knowing". I was so scared about filing. I had only started falling behind in November and got so sick of the calls. But after I did file and then went to the 341 meeting I was so relieved. I am currently waiting on my discharge. My only regret is that I didn't do this sooner. I will be 40 this year and I could have already had most of this behind me. You will feel better after it is over with and you can start fresh and move forward. So don't worry. Been there and done that and it isn't worth the worry! Good luck.

[ladyjenn]

I was the same way, "The not knowing". I was so scared about filing. I had only started falling behind in November and got so sick of the calls. But after I did file and then went to the 341 meeting I was so relieved. I am currently waiting on my discharge. My only regret is that I didn't do this sooner. I will be 40 this year and I could have already had most of this behind me. You will feel better after it is over with and you can start fresh and move forward. So don't worry. Been there and done that and it isn't worth the worry! Good luck.

Thank you Maxwell!~ That was very kind! Just easier said than done at this point, as you know!
We still have about 6 weeks until we can file (pay the atty off). So far only one creditor called (Best Buy) (8 days late). We have been current until the point of deciding to file!

[Shanfish]

Thanks for sharing your stories LadyJenn & Maxwell! It's very similar to ours. We found a lawyer on May 20th and stopped paying CC's to be able to save the deposit to retain him...we're hoping to have it in another week or so and then have balance by next month and then file in late August/September. When I told him we were still paying the CC's he said to stop and it felt backwards to intentionally stop paying them. I know this is the best thing for us, but its still so difficult to go through the motions.

[epiphany]

of deciding to file BK, then deciding to not pay the cc (we were still current some how), and the stress of worrying when the crediotrs are going to call...Do you all think it was worth it? I am a mental and emotional wreck. It is all over the "not knowing" part, since we have only retained a laywer and haven't spoken with him about exemptions and such yet.... I know this is the right move, and at times I am relieved. Most of the time however, I am just a wreck worrying about this and worrying about that!
Any advice?

You will feel sooooooooooooo much better after your 341..you will be like..oooooooo girlllllll..why didn't I do this sooooooooooner? NO LIE.

Don't get me wrong. I know how hard this is. Been there, done that, got the discharge. But you will be fine. Once you give in to the fact that it is what it is and you can only control so much, you will be fine.

Best of luck with your fresh start. Chin up.

ep

[frogger]

Now that was some great advice!

Hang in there. Everything is going to be great again.

[mgmadara]

of deciding to file BK, then deciding to not pay the cc (we were still current some how), and the stress of worrying when the crediotrs are going to call...Do you all think it was worth it? I am a mental and emotional wreck. It is all over the "not knowing" part, since we have only retained a laywer and haven't spoken with him about exemptions and such yet.... I know this is the right move, and at times I am relieved. Most of the time however, I am just a wreck worrying about this and worrying about that!
Any advice?

My stress went away the second I talked to a lawyer. Please make an appointment with your lawyer and get some advice, you will feel so relieved you will wonder why you were so stressed in the first place.

As for the cabin, there are thousands of cabins in PA just like yours with the same setup and I bet your lawyer has experience with hunting camps and their shares. Do the cabin by-laws allow members bring guests? At my hubby's camp they are allowed to bring guests. Maybe if you have to sell your shares another member can take your hubby hunting as a guest until you can save the money to buy the shares back.

I have my doubts that the trustee will want that money to begin with but I wouldn't make it easy on the trustee by mentioning that the cabin buys back shares if they can't be sold.