Life after BK

[Chucksoutalu]

Sounds lie you do know the "in and outs" of the business! Good deal and will use it to my advantage in the future as well!!!!

[CatsInTrouble]

"Are those of us who are making every effort to pay what we can to avoid BK are we just suckers.. "

I hate to say it, but yes, I would have been a sucker to keep paying those bullsh** credit cards. My BK was too easy, things went so well, I shake my head now thinking what would have happened had we not went for the Ch7. Such a relief. Feels like the best decision I ever made.

Oh, and I am less than a month from closing and got a 1000k credit card at 19%- not great, but not hard at all. Don't plan on using it other than try to help my credit score.

[no_it_all]

Just a follow up. I did indeed close on my house, I am excited and a little freaked out at the same time. Closing was smooth as silk. Received 100 percent financing at 5.25% with no PMI. My total investment on a 200K property was $2040, mostly prepaids (taxes, insurance, home owner fees, etc). I received $5,000 from the state as a first time home buyer and just amended my 2008 1040 and I will be receiving $8,000 in a few weeks from Uncle Sam. I am not gloating but do want everyone to know that there is life after BK. My goal was to buy a home within 2 years of BK, and I was off by 1 year, but it actually worked to my advantage. The home I bought the owner had paid $316,000 for four years ago. I know I got a good deal and I am happy. Good luck to everyone. Do what you have to do, follow through and make a solid plan for the future.

[whipster1]

Thanks again for your updates. You have brought many fearful recent filers and perhaps some of those still on the fence back to reality. Good luck to you.

[mermaids614]

Cliff notes version of my BK: Pro Se filing in August 2006, discharged Nov 2006. About 154K in unsecured debt, including about 12K in federal taxes (woot!). My filing was done under the "new" BK laws.

!

Huh? How did you get rid of your federal taxes? I'm converting from Chapter 13 to Chapter 7 due to a vehicle, and I'm going to have to deal with the IRS because supposedly it's "non-dischargeable". I only owe a little under $5000.00 to the IRS (although it's a lot to me, with my salary and expenses)