What would you have done prior to filing if you had to do it again?

[keptdigging]

My one mistake was a last series of balance transfers before I stopped paying the cards. I was my old clever self, transfering line of credit balances onto a new credit card so I could free up the LOCs and get fresh advances. The stupidity of this was that you create Adversarial Proceeding/non-dischargeability risk that is DOUBLE the amount of cash you raise. Example: If you transfer $3,000* of a LOC onto a CC with a bal xfer and then take a fresh advance from the LOC of $3,000, you net $3,000 in funds. But you now have non-discharegability risk with both the CC and the LOC totaling $6,000. (Just the $3,000 would have been bad enough.)

I did all this when I hadn't found this site yet. Then I read the Nolo book and figured I would be fine as long as these xfers were a mere 90 days behind me!

In the end I found a way to keep from filing for about a year. But it took a lot of hard work and some luck to do that. My little bal xfer maneuver really reduced my flexibility.

And I'm still in the 60 day club so the jury is still out on whether the creditors involved will threaten/file APs.

* the numbers have been changed to protect the poor innocent dollars involved.

[mickeyme]

I did a ton of research prior which really helped. I also kept paying my cc's until the day I say the attorney which I think helped my credit score rebound. The one thing I would have changed is what I did right after. We did not reaffirm our condo and we continue to pay the 1st & 2nd as we thought we would be staying in our place. Knowing what I know now, I would have stopped paying right after the BK instead of waiting 14 months to do so. What a waste of money for that 14 month time-frame. I get really upset when I think about all the money I could have saved...leason learned, we are saving now and going through the short sale / foreclosure process.

[stillstandin]

Agree with dspii....Wish I'd have seen the writing on the wall earlier as well. I waited about 8 months too long and did not discover this forum until after my 341. I regret not seeking help here in advance. I had no help or advice and was embarrassed to ask anyone, so I basically shut down socially for almost a year, b/c there was no $ to go out and socialize over dinner. You can grow a lot of gray hair in 8-12 months, and I did that as a result of the stress of continuing to try to pay $1000 in CC bills, office rent, home rent, tax obligations etc., when there was 60% less money coming in. (Self employed) During this time, I cut out EVERY personal and work expense possible to pay the bills, and as a result, ended up with a huge tax bill because of slashed deductions, even though I made much less money than the previous year. Still dealing with that and student loans. I paid CC bills up to filing date, b/c I did not want to give them an opportunity to add negative info on my CR. My atty sent out letters within 2 days of me paying my last bill, and I only got one collection call, which I referred to her--I didn't even have to talk to them. Left the collections person a message with my case # at 10:00 PM and that was the end of it.

I had one negative on my CR before filing, which should not be there, and should be able to easily have it removed, so I'm glad that I timed the filing the way I did. Compared to others experiences here, it seems that I was lucky with my atty choice. She never missed a beat. Knew her stuff, and was very supportive, but I also worked really hard to get her everything she asked for ASAP. Key.
Best of luck!

[SunkShip]

What I would do then with what I know now, is first, Internet myself as to what this is all about. Our lawyer was terrible in educational ability and we were dumb as anvils.

Then I would have found this place, downloaded the C7 book from Nolo Press and learned Pro Se'. I would have been a d*mn better lawyer than the one I had.

+1

[Epic]

Thank you for the input, I am just trying to pre-plan as much as I can before I file. I know I should have done it sooner, a lot sooner. If anyone else has any thoughts, please chime in ;-)

[dspii]

For me, I would have seen the writing on the walls much sooner. Also might I add, I would have found this site before I filed. In addition, I would have had more faith in what the members on this forum were saying when they said "don't worry or sweat the process". I lost so much sleep and hair, the stress sucked, I bet I lost several years of my life worrying over what turns out to be nothing.

BK, for most, is an easy process, it is serious and should not be taken lightly, but damn...there is really nothing to worry about if your one of the million people that are over their head, no matter how they got there! We are given a fresh start, use it wisely and remember the BK process is typically uneventful, so don't get freaked out by no new news!

[enginegirl]

I would have filed 2 1/2 years ago when I lost 2/3rds of my salary (from 200K to 65K) instead of robbing from Peter to pay Paul... and socked away cash under the mattress....

[ccsjoe]

We would have filed a hell of a lot sooner, kind of the common thread here. But if you're asking for lessons learned, besides the "sooner" constant, make sure you have an alternate checking account not linked to any institution with which you have credit, give yourself time to redirect direct deposits, learn how to use online bill pay and set up OLB payments that you send out, rather than ACHs against your account.

[kartoons19]

Like everyone else I just wish I filed a year sooner. Being an optimistic person I always believed it would get better, but it didn't. I wish I would have just filed instead of trying to stay afloat and enduring all of that added stress and worry!

There are moments when I wish I would have saved $1700 and filed pro se. I'm sure I could have been successful going that route, but then again having my attorney to answer questions and deal with the calls from the CC companies, was invaluable. Other than not filing sooner, I wouldn't have done anything different as it has been a smooth process. 28 days and counting until discharge!

[Freddy03]

I would have filed as soon as I received my first cc summons instead of trying to fight it and losing.

[brokejoker]

I would have filed sooner, before all the late dings on our previously perfect credit and before the lawsuits.

I would've probably gone pro se too if I had known it was a realistic option. I did 90% of the legwork for the lawyer and I learned the ins and outs of the BK laws for our state anyway. I should've saved us the $1000 and just filed myself.

[wipetheslate]

What I would do then with what I know now, is first, Internet myself as to what this is all about. Our lawyer was terrible in educational ability and we were dumb as anvils.

Then I would have found this place, downloaded the C7 book from Nolo Press and learned Pro Se'. I would have been a d*mn better lawyer than the one I had.

Well, you weren't dumb, just ignorant. The way we all start out. I'm a pretty smart person and while I am considering hiring a lawyer for my no-asset Chapter 7, I know I can't afford one that is going to give me real, personalized attention. I figure I know more about my case than any lawyer ever could, and that's why I will almost assuredly go pro se.

[AngelinaCatHub]

Gawd, this is a bomb to me. We/I were so ignorant in our older age and with the money we had once, we were just beside ourselves.

What I would do then with what I know now, is first, Internet myself as to what this is all about. Our lawyer was terrible in educational ability and we were dumb as anvils.

Then I would have found this place, downloaded the C7 book from Nolo Press and learned Pro Se'. I would have been a d*mn better lawyer than the one I had.

I would know not to sell property that was our family cemetery and had to move remains for reasons not about money, but at the wrong time, then I got to pay IRS taxes I had no idea existed, and the Trustee of all our gain. Still had the expense to move the stones.

OH I would have done so much different, but I did get by. Only because, I was honest, paid the price, and was obviously ill informed.

To those who read and ask. EDUCATE YOURSELF. YOUR LAWYER IS LESS LIKELY TO CARE. 'Hub

[discouraged]

I would have done it much sooner also. What was I thinking - paying all those bills while I was/am unemployed? Went tnrough all my savings. Not worth it.

[drowning123]

I would have done it sooner, too. I settled one silly debt (for about $500), which at the time I didn't even had plans to file. I wouldn't have settled any debts. I guess it helps a little with my credit report.