Doubts about having filed

[HOMEBODY]

Hearing is coming up in July 2nd. My business is doing good now and without the bills, I just feel that I can finally save some money for my retirement and vacations. But then I am thinking that since I am making money now, maybe I should have sacrificed and paid off the bills or worked out an arrangement instead of ruining for my credit for life. I understand that this will always be on my record..and I would like to buy a small place for me in about 5 years for my retirement years. I am 55 now and have too large of a home for my old age.

Is this normal to have these doubts and fear about the future without credit or the fear that someone may look into your background and find out you filed for bankruptcy?

I am even thinking of using my former married name.

[SeattleBK]

Naaaa, you did the right thing.

Seriously, at 55, you are heading into your retirement years. It's not like you have much time to set up a retirement. I'm in the same boat, I don't have a lot of time to save either.

So, you are being realistic which in my opinion is a good thing. Also, the only regret that I've have is I didn't file sooner.

Also, sacrifice? Corporations don't sacrifice, CEO's are still getting millions while the companies are in disarray and nearing bankruptcy. BK is a legal process/fresh start available to everyday people so why not take advantage of it?

[ColoradoBell]

I think its a normal feeling...to wonder if you could have held off, could have turn things around.
I've been paying my bills in full all my life and now in retirement. I never thought I 'd have to ruin my otherwise good credit because my X has a stake in my home and is getting it into so much debt that I won't have anything left unless I file to save my homestead.

It is scary, but its happening to so many people that I think the stigma is pretty much gone.

[HHM]

I suppose it would help if you didn't buy into false assumptions about BK.

Your credit will NOT be ruined for life, in fact, you will probably recover your credit in 2 years. In fact, you will probably start getting credit card offers in the mail within a few months of discharge. The BK is not really permanent. It is only on your credit report for 10 years. After that, someone would have to have PACER access to find it.