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    Getting ready to file ...help

    Hey everyone, I am considering filing for bankruptcy. I have some questions that have me scared about filing. From what I gather I won’t lose my car. I don’t own a house so I rent. I don’t really own anything of value really except a couple of computers. Do they get those? I am not even sure they are worth much. About three months ago I applied for a loan and got it. I only applied because I got another job and my first pay check was held for about three weeks where it was my first one. Had I not got the loan we would have starved because all my wife’s check went for bills. Would that be considered fraud where I got it about three months ago? Also all my bills are up to date, but once we pay all the credit cards and stuff we are hurting for the essentials like food and stuff. I was using the credit cards as a way to get gs and groceries and stuff but that was putting me further in debt. I just need a fresh start but don’t want to get in trouble for filing. My credit score dropped significantly because I actually was behind on one payment. It dropped like 50 points. I had tried a few weeks ago to get a credit line increase so my score would increase if I didn’t use the available extra balance. I’m a mess right now and just want out of debt. It shakes me to be in the shape I’m in but it feels like there is no way out with the exception of bankruptcy. Any suggestions? Thanks for your time.

    #2
    Prouddaddy BK can be your fresh start it's not easy, but it's a heck of a lot less stressful than dealing with the credit card debt.

    I was in a similar situation where almost all our money was going to bills and we were charging for groceries, etc. I would make a payment on the credit card and then run it back up buying groceries or some needed item. It's a viscous cycle and very hard to break especially with the interest because your monthly payments don't cover much of the old debt. It's hard to get ahead no matter how hard you try.

    I am not an expert and always start with "ask your attorney" or in your case you probably need to go speak to a few attorneys and see what they recommend. Try to find someone with a lot of experience in the area/county you would file. And listen to your gut if they smell like poo they probably are...

    From what I gather it's not usually considered fraud if you used the credit or some of your cash to buy necessary items like food, pay utilities, etc. If you took a fancy vacation or something like that it's another story. It doesn't sound like you took out the credit with the intention of not paying it back. I was nervous before we filed because I took out some credit, the last credit card I got was from a home improvement store for a water heater. They gave me a credit limit and that is how I chose the water heater--maxed it out. I was uncomfortable getting more credit since we were having trouble making ends meet.

    My husband and I dragged out feet filing and that's the only thing I really regret. If it looks like this is the best option and it's not a failure. That was hard to get past we felt like real losers/we should've/could've, etc As I learned more about BK is that you can get a fresh start. It's not easy, but it's better and it's the means to an end of a better financial control. We qualified for Chapter 13 and kept our house and a total of 3 cars (including one my college age daughter used). We have a high payment, but we had a lot of debt and we have a good income. We are paying back 100%, not everyone pays back 100% it's based on debt/income. We have to live on cash and have to learn to budget. It makes you learn real fast. If you qualify for Chapter 7, the big thing will be to learn to budget, you won't be forced into it as we were. After either Chapter you must change your ways/habits in order to be successful.

    I doubt they would take your computers. I don't think they really take anything with Chapter 13, but you have to list what you own. Not sure how it works with Chapter 7. I have a friend who went through Chapter 7 twice, the last time was around the same time we filed and she did not lose any assets.

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      #3
      Carnella13

      So we have went and talked to a lawyer and he has instructed us to stop paying all credit cards. We are saving up to pay for chapter 7. Will the local loan companies (heights finance) or credit card companies start calling my workplace? I haven’t had the job long and don’t want them to know ...yet. Also when I give them bank statements will I get in trouble for paying like Netflix and Xm radio monthly? This whole ordeal is worrisome. The “what if’s” worry me sick. Thank you so much for your time.

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        #4
        I'm glad I can help, just remember I am not an expert I just know what I have learned through my experience and what I have read. Bankruptcy is so stressful beyond imagination, but the stress afterwards is different and more manageable. Just remember how important it is not to fall back into debt and make real changes in your budget/spending. And you would be surprised at how many people are in the same situation and do not talk about it, we feel alone, but we are not. No one talks about it.

        I only had one place call my job and that is because it was the most recent credit card that I applied for after I took this job and probably the only one that had my work phone number. If they have your cell phone number your phone will be ringing off the hook (as we use to say before cell phones!), I set my phone to silent because of that. I did not answer any of the calls. If I remember correctly they did NOT call me at work until we hadn't made several payments, hopefully no one calls you at work for missing a few payments.

        The "funny" thing is that a few times the call went to my boss's office (we have a department phone and the boss phone and sometimes the receptionist sends the calls to the wrong extension) my boss and the person who works closely with her did retrieve a call from voicemail. They asked me did I know such and such person I said no. The person who works closely with my boss had mentioned to me off the record that my boss and her daughter get calls for debt collection. I think she was implying they knew what the call was and understood. That was right before we filed and then the creditors cannot call. In our department we all work closely together so even though it's the boss it's not like a superior/inferior relationship it's more of a team atmosphere, but the boss is still the boss (she's not a push over by any means).

        Your attorney should give you info on if it's a problem that you have netflix, etc. We filed Chapter 13 so things could be different. It was not a problem for us to have subscriptions we have amazon kindle/books and I was paying for some subscriptions my daughter needed for college like Dropbox and Adobe Creative Cloud and probably something else am forgetting. Maybe someone else reading this can comment.

        Your attorney should also tell you if it's ok to tell any nagging creditors you are filing. I would not tell them unless the attorney recommends it. My best strategy was avoidance of phone calls. I have read on this forum you can tell the creditor if they call you at work they do not have permission to call you at your work place and they should stop.

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