negotiating with unsecured creditors

[keepsmiling]

That's right. They've got you by the short hairs. Loyalty means nada zip zilch to them.
Another reason no one should feel guilty about missing payments or going bk.
Unfortunately that means little to them as well

[LadyInTheRed]

I am now thankful to the credit card companies for not working with me. A simple interest rate reduction resulting in a lower monthly payment would have kept me paying them for the rest of my life. But, they wouldn't budge. So, now they get less than 1%. No guilt here. They made their business decision. I made mine.

[gina2000]

I am now thankful to the credit card companies for not working with me. A simple interest rate reduction resulting in a lower monthly payment would have kept me paying them for the rest of my life. But, they wouldn't budge. So, now they get less than 1%. No guilt here. They made their business decision. I made mine.

That's a very powerful statement. Thank you

[mknolan]

Thank you LadyInTheRed...you said it in a nutshell!! I am so grateful for all of the info I have gathered and for those who have made me feel better about this decision!! Thank you!!

[TRfromillino]

I got your back on Wednesday, mk, as do we all..good luck and keep a clear head!

[bookworm]

No guilt here. They made their business decision. I made mine.

Amen to that! Since their business dealings included things like doubling my minimum payment, then cutting my limit in half, which automatically put me over the limit, then raising my interest rate for being over the limit, then slapping me with an over-the-limit fee, I don't feel the least bit guilty about defaulting. And in fact, at 30% interest, I'm pretty sure I paid back every penny I borrowed, and then some, long before I quit on them.

So no. No guilt here!

[pamkev]

LITR,
That is so true

Bookworm
You are right on the money also.

[DaisysMom]

One thing I was worried about was that my BK would be in the paper or somehow everyone, (neighbors, friends) would find out. I was telling no one except my mother and my daughter. I found out that since BK is in Federal Court, that it was never included in the newspaper (county - city) published court news (at least in my area). I did receive a couple of notices in the mail from the Federal BK court, but that was it. As far as I know, no one knows and no one has ever mentioned it to me.

I guess if someone wanted to know, they would look me up in the Federal Court Record site...but why would they.

I'm so glad you found this site. It literally saved me! I was looking at retiring with a boatload of debt around my neck, dragging me down. I felt so entirely hopeless about my future. And now I'm free, happy, and looking forward to a wonderful retirement. Lot's of lessons learned, but well worth it.

Good luck and hang in there...it gets better!!!

DM