This thread has been wonderful to read.
I'm currently sitting at my computer with a knot in my stomach. I am stressed to the max and I have to maintain appearances at work as if nothing is wrong. I have lost 25 pounds this year mulling over this decision (though I'll place that fact in the pro column).
My car payment is past due, I owe the IRS and the State back taxes (the State is already taking 25% of my pay), let alone the credit card payments, medical bills, and other installment loans. As I reflect on my financial history, I realize that I have been brought to this place through very poor financial decisions compounded by things that are certainly out of my control (being laid off, no medical insurance and then taking a 40K pay cut). Before I was laid off and before the drastic pay cut after I was re-hired, I was making ends meet. Was I saving for the future, not a chance. I was just barely getting by like most Americans. I have realized that the appearance of success is a silly way to live when you have an ugly secret buried in the back yard (horrible credit and tons of debt).
I have informed only my parents of this decision, you need someone you can trust to talk to, you need someone that will understand when you lash out from the stress. Am I embarrassed? Yes. But, I'm young (early 30's), this decision will set my ship straight so to speak and enable me to secure a solid financial future. I achieved great success in my early 20's and lived a fast fun life, those things are no longer important to me. I have learned my lesson.
I have a meeting with my attorney this afternoon to make a second payment and should be making the final payment next week and be completely filed 48 hours after he receives the final payment.
I struggled with this decision for months. Do I feel like a failure? Absolutely. Am I making the correct business decision? Absolutely. I really honestly believe the anxiety levels will drop once the Chapter 7 is filed and the Automatic Stay order is in place. At the moment, every single time my phone rings, I cringe.
I can see the light at the end of the tunnel, I know, once I'm filed, my excitements levels will certainly start to rise again. And maybe, I'll be able to sleep through the night, and hopefully, I'll be more of a pleasant person to be around.
Thank God, I found this Forum. I have learned so much. It's wonderful to know that I am not alone in this journey. I'm sure many people I know have filed for bankruptcy, but let's face, it's not exactly a dinner topic. It's good to know their are "strangers" out there sharing their story.
I would love to be able to one day educate our youth on financial management. Especially the kids achieving success and making a lot of money at an early age. It's all for not if the money is not properly managed.
I'm currently sitting at my computer with a knot in my stomach. I am stressed to the max and I have to maintain appearances at work as if nothing is wrong. I have lost 25 pounds this year mulling over this decision (though I'll place that fact in the pro column).
My car payment is past due, I owe the IRS and the State back taxes (the State is already taking 25% of my pay), let alone the credit card payments, medical bills, and other installment loans. As I reflect on my financial history, I realize that I have been brought to this place through very poor financial decisions compounded by things that are certainly out of my control (being laid off, no medical insurance and then taking a 40K pay cut). Before I was laid off and before the drastic pay cut after I was re-hired, I was making ends meet. Was I saving for the future, not a chance. I was just barely getting by like most Americans. I have realized that the appearance of success is a silly way to live when you have an ugly secret buried in the back yard (horrible credit and tons of debt).
I have informed only my parents of this decision, you need someone you can trust to talk to, you need someone that will understand when you lash out from the stress. Am I embarrassed? Yes. But, I'm young (early 30's), this decision will set my ship straight so to speak and enable me to secure a solid financial future. I achieved great success in my early 20's and lived a fast fun life, those things are no longer important to me. I have learned my lesson.
I have a meeting with my attorney this afternoon to make a second payment and should be making the final payment next week and be completely filed 48 hours after he receives the final payment.
I struggled with this decision for months. Do I feel like a failure? Absolutely. Am I making the correct business decision? Absolutely. I really honestly believe the anxiety levels will drop once the Chapter 7 is filed and the Automatic Stay order is in place. At the moment, every single time my phone rings, I cringe.
I can see the light at the end of the tunnel, I know, once I'm filed, my excitements levels will certainly start to rise again. And maybe, I'll be able to sleep through the night, and hopefully, I'll be more of a pleasant person to be around.
Thank God, I found this Forum. I have learned so much. It's wonderful to know that I am not alone in this journey. I'm sure many people I know have filed for bankruptcy, but let's face, it's not exactly a dinner topic. It's good to know their are "strangers" out there sharing their story.
I would love to be able to one day educate our youth on financial management. Especially the kids achieving success and making a lot of money at an early age. It's all for not if the money is not properly managed.
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