Regrets?

[papie]

Generally speaking, do you think that many people really do regret filing? I just don't get why they are so vigorously against BK.

Maybe those are the people who don't know much about BK and didn't do their research prior to filing. I'll admit there were a lot of things I didn't know about before I filed, but after researching it I really did feel it was a better option.

I don't think there's a great deal of people who regret filing bankruptcy. I think a lot of people regret the choices and/or situations that led them to file bankruptcy.

There's a lot of stigma around bankruptcy and most people who have something negative to say about filing have never experienced it. I've had financial professionals tell me that I would be unable to finance a car or buy a house for years upon years. An overwhelming number of people in this country think that bankruptcy is a financial death sentence. I feel like the big banks and corporations have done a really good job of convincing Americans that the should bow down, buckle down, be a slave to debt, and preserve their credit score or else they'll be homeless, carless, and jobless. And that's just not true.

[df04527]

Can't agree more!

[switch625]

First time posting here. My wife and I filed in late 2013, but still awaiting confirmation which should happen next month. Like others, I don't regret filing and I'm very glad we did it (I've been considering it since 2010 and doing lots of reading and research on BK since), but I do regret not filing sooner (like in 2010) and doing some band-aid (and senseless) things like apply for credit cards, take out 401K hardship withdrawals, hardship payment plans with the CC companies and the like. I discovered that the slippery slope to financial catastrophe was getting more and more slippery with each passing month, until I stopped it with the filing of the Ch 13 petition. I sleep easier now and I'm a great deal happier than I was this time last year,

[sbatman]

Not a single regret, best thing we could have ever done after the value of high maintenance house tanked $50K below what we owed on it. After I lost my job.

Walking away scot-free was an incredibly wonderful experience.

Maybe it's just rationalization, but I did nothing worse than the big companies who were too big to fail. Couldn't make the payments on the submarine house after job loss and losing all the credit card debt was gravy.

After discharge I emptied my useless retirement account and bought a cheap, yet comfortable house free and clear. Both cars (an older Subaru and 2010 Honda) are also paid off.

Kinda smug, but I've had some very hard times in my life, through no fault of my own, so I figure Karma finally turned my way.

[Drazil65]

I do not think most regret bankruptcy at all.....I can tell you that the quality of our life has changed two times over for the good since the bankruptcy and I think for many this is the case. Its all good and life is simple...