Why Are/Have You Filed BK?

[herekitty]

CC and pure stupidness

Couple of reasons, the best being pure stupidness. Was in a relationship with a guy with a spending problem, racked up about 50K in debt - 30K of which I took since I called off the wedding (co-signer on most of it).

3 years later he paid off his now is coming after me for 1/2 of what he paid.

Student loans have taken up the majority of my income that doesn't go to everyday expenses and entry level job in the degree that I got only pays about $25K.

Finally - I'm at rock bottom. Didn't have heat on all winter (and I live in WI) because I couldn't afford it, don't buy food because all my money goes to debt. I just want to start over with a clean slate.

[ODDBALL]

Excessive medical bills for baby boy, and a 'dead beat' ex who refuses to pay his court ordered 50% of these bills. What a life!!!

[king_rks]

Why I Filed

Girlfreind was unexpectedly pregnant. Still spent like I was single. Started to support her, her daughter and get ready for my son. I didn't slow down my spending and she also had to use her credit cards for living exspenses and moving 3 times to different states. Very unwise decisions and imaturity. I've learned my lesson and will never go into debt again. We are married and Filed Jointly, discharge was in Jan 05

[angelina]

few differnt reason

well for me if i file it b/cmy husband dont have a job he got fired then he used his retirement to keep house and then when that was gone. i was still working. he wouldnt go get a job he said he not going to go out for min wage. but it ok for his dad to pay for it( what does this tell you)? but he had a good job till he got fired . i always wanted to pay cash for thing. i sholuld of stayed that wy. i got few that came in only use it now and then, well my husband wanted to be like jones and be bought house that was way out of means., but it was my credit that help us to get it b/c he max out his credit cards before we were married, and he used his dad ss to get more credit cards.i keep saying what if you lose you job i cant afford 850.00 house, so he said i wont lose my job and said ok. well we need windows and heating sysytem so i had to use my cc and since i had to do heating i said well i need air. oh well the air my pleaseure. work all day in kitchen you like to be cool when you go home. oh well in the mean time ( b/c ) we live on hill he claim we need a tractor i said no then he goes you dont love me, so stupid me gave him the card to get a 3grand tractor. then every one else got trucks so he had to be like the guys well they all have trucks so finely after5-6 yrs living here ( alot of Hell to go thru) sorry. you dont love me and so on you can guess i went and co sign to help him get the truck. well about 6 months ago got repo.b/c i cant afford 450.00 truck and the house. so you can guess how i feel never again will i allow my self go thru this b/c no love in the world mean you got to go in dept for anyone one man or woaman if they got to use you dont care or love me or call (bit_) to get what they want it not worth it. the sad thing is 2 kids are involved and it makes a hard situation. for a man not willing to help the person and find some type of work to take care of your family, i learning hard way good luck to everybody so that why i in this situation.

[skyan]

Ours is from when my husband was out of work for over a year, and I couldn't go to work because I had just had our first child. Our credit wasn't over-extended with the income, and we weren't living beyond our means. But without the income, then we were over extended. We just haven't been able to catch back up even though he is now employed. We moved since all that happened and our rent is higher. Between that, the increase in gas prices, the rise in insurance costs, and the 30% interest plus fees added to the old debts....we just can't get caught up.

[erricah]

Living Above My Means

I have been living above my means for years and was in denial. It's finally caught up with me. I am a single mother with two children to support and I need to do what I need to do financially to get my finances in order.

[WhenThePawn]

My debt came from many things. Irresponsibility being the major factor. Hey, when you are twenty-something, and you have six cards with 5 thousand dollar limits, and one card with a 9 thousand limit, and your parents never taught you how to be responsible with money because they never were, things are going to get out of control really fast. I shudder to think of how excellent my credit once was for my age. I remember the very first card I got at 21. It was Sears. Then came Discover. Then came all the Visa's and Mastercards and gas cards. Gold cards, platinum cards, every card. My error was that I got too many cards and began using them. Then I couldn't pay the bills. While some of the use was good, like car repair, most of it wasn't. I wish there were more programs out there to teach young people how to manage credit and how important credit is in this Country. Young people learn by example, and unfortunately, mine wasn't good at all.

Wow...we almost have the SAME story. On top of my irresponsibility, my hubby and I had a wedding that we needed to foot the bill for. Like me, he loved to live way beyond his means before marriage. I blame no one but myself. I don't know how it happened...my parents weren't like this at all. But i have HUGE regrets and learned my lesson the hard way.

Tried the credit counseling route and that was about 4 months of hassles and nonstop creditor harrassment because the counseling agency was not paying our bills for us as promised. That was another waste of money.

It's been 9 months since we filed Chapter 13. The next 2 years can not go by quick enough. I'm living on pins and needles hoping nothing falls out of place. My entire family also has no clue. I'm too embarrassed to tell them.

[HeartBroke]

Wish I'd had as much fun getting in debt as most of the rest of ya did!

Me: 36, bulletproof, no insurance, got a virus, went to my heart, pacemaker -- POP! $200K in debt!

The bright side: My credit card debt will go with it ...:<}

[invest1choice]

will be filing next week

We have gone way above our means of income. to many credit crads loans, and upside down on a car that is not worth half of what we owe. So we are planning on filing next week if all goes well..

[stevie2012]

I filed Chapter 7 15 years ago due to extended unemployment which ultimately resulted in excessive unsecured credit card debt (45K).

[edwards2]

Our cause was massive medical bills too. Several years ago my husband suffered a self-inflicted medical catastrophie. Because it was self-inflicted the first day he was in the trauma unit was on us....$35k. Insurance paid a lot of it but in midstream refused to continue to pay for his food which was $600 per month..he had a stomach tube. He lost his job and didnt find another one for 5 months. I started working but 6 months later my hours and pay were cut. Thus became the vicious cycle of robbing Peter to pay Paul. We tried to swim upstream but it caught up with us and we made the decision to file. It was hard and painful but like many others on this forum, we had no other choice. It was painful and embarrassing but we will get through it - we have to - we are 47 days post 341 and holding.

[brokemama]

Todd, I like many have several reason, mainly excessive medical bills not covered by insurance. 6 yrs ago my second daughter was born very premature and had to be hospitalized in the Neonatal ICU, ironically, in the same unit where I work as an RN, after 4 months in ICU we were finally sent home. I had taken a medial leave to be with her but drained all my vacation time. 2 months after my daughter was born, my husband was laid off, hence, we ended up living off our credit cards until after I went back to work. we rake up an enormous hospital bill, she spent 3 months in ICU and the other month on a regular floor. after multiple trips back and forth within her first yr of life we found out she has cystic fibrosis,a chronic lung problem. so we have continued increasing her medical bills. her medication monthly is approx 1600.00. so you see even us medical folks have problems with medication bills. we were covered with 2 medical insurance carriers at time of her birth and still had medical bill that exceeded over 300,000 dollars that insurance "wouldn't cover". The ironic thing about this is I worked at this facility for several year and still couldn't get a break. sorry so long winded.

[Dawn1970]

Medical bills

You take for granted that if your child is born healthy, she'll stay that way. Well, Juvenile Diabetes ambushed my daughter. Yes, we did have health coverage but around $120 worth of pharmacy copays per month, plus the work I had to miss until I could get a sitter lined up whom I trusted to give her shots and check her sugar during my absence. . . that pushed me over the edge.

I also would like to throw in a 'miscellaneous' factor that helped me decide to file- I had built a house that wasn't even 5 years old and due to shoddy building countless things were going wrong with it- for one example, the floors were bucking up, or 'rolling up,' the family member who had promised to do some landscaping for me never came through, etc. My lawyer tried to encourage me to do a #13 and keep the house because he said it's not just any single mom can become a home owner and I should hold on to it. I said, "Nope, I'll gladly let them have it back!!" ;)

[texbuilder]

Ours is from a customer not paying us the draw on building their luxury home. It was a cash job,they demanded items to be done not part of that phase and then pulled out their wallets and hired inspectors out the kazoos to say there were thing undone on the house and we walked off the job.

The house was just at the sheetrock stage so ,yess, the electrical work was not finished. They didn't pay and we couldn't work. Now we have 12klegal fees 41k of their bills and a threat of 150k sdamages. there is no way out but bk.

[FloridaGirl]

My debt came from many things. Irresponsibility being the major factor. Hey, when you are twenty-something, and you have six cards with 5 thousand dollar limits, and one card with a 9 thousand limit, and your parents never taught you how to be responsible with money because they never were, things are going to get out of control really fast. I shudder to think of how excellent my credit once was for my age. I remember the very first card I got at 21. It was Sears. Then came Discover. Then came all the Visa's and Mastercards and gas cards. Gold cards, platinum cards, every card. My error was that I got too many cards and began using them. Then I couldn't pay the bills. While some of the use was good, like car repair, most of it wasn't. I wish there were more programs out there to teach young people how to manage credit and how important credit is in this Country. Young people learn by example, and unfortunately, mine wasn't good at all.