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Bankruptcy??

Anyone ever filed bankruptcy? We are having to do this and I am so stressed about it. I am so ashamed, and feel like I'm the only one in the world dealing with this-although I know I surely can't be! My husband and I are in our early 30's with 2 kids. We will be able to keep our home and vehicles thank goodness. We are filing Chapter 13. I never thought this would be happening to us, but it is. Has anyone else ever dealt with this?

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Anonymous

Asked by Anonymous at 11:14 PM on Jan. 7, 2009 in Money & Work

Answers (10)
  • We are going through the same thing right now. And DH just texted me from work and told me as of Sunday he's laid off. Now what? Oh well.... we'll get through it!
    Anonymous

    Answer by Anonymous at 11:17 PM on Jan. 7, 2009

  • Yes. I filed Chapter 7. With this one you don't have to repay your debts. With Chapter 13 you do have to make payments. I would not feel ashamed in the least.. sometimes things happen beyond our control such as medical bills, etc... Bankruptcy does not mean you racked up a ton of credit card bills you can't pay. So many people find themselves in this situation from a simple car accident to an illness. Nothing you can do about it. I worked for an attorney and trust me.. it is not a bad thing. Some people will tell you it is, but in the long run, it only relieves alot of stress and problems. It in no way affected me. CONT.
    Anonymous

    Answer by Anonymous at 11:18 PM on Jan. 7, 2009

  • CONT I was able to get a credit card six months after. I got one simply to repair my credit. I was able to get loans of any type, if I wanted. I chose not to though. Also, people will tell you, you can't get this and you can't get that... Like I said, it doesn't affect anything. You will feel much better in the long run and it's your life and you are entitled to enjoy it
    Anonymous

    Answer by Anonymous at 11:18 PM on Jan. 7, 2009

  • Girl, don't worry! And definitely don't be ashamed. I filed a chapter 13 and was able to buy my first house only 5 years later. Bankruptcy is not the enemy. It is a way out. And you will not be totally condemned by all creditors because of it. In fact, watch out. You will get lots of credit pre-approvals right away. Don't sign up! They want you to be indebted to them because they know you can't file another BK for 10 yrs. So if you default they can sue you. Just pay all your bills on time after the BK is filed. Your future creditors will be more concerned with how you manage yourself after the BK.
    hopelessnance

    Answer by hopelessnance at 11:50 PM on Jan. 7, 2009

  • In case you people haven't been on planet earth for the past year, the days of lending to anyone with a pulse are over. Don't expect to be able to borrow money after your bk for a while. As it should be.
    Anonymous

    Answer by Anonymous at 8:53 AM on Jan. 8, 2009

  • I AM FILING RIGHT NOW AS WE SPEAK. WE GO TO OUR ATTORNEY ON MONDAY. I AM VERY YOUNG AS WELL, 26 YEARS OLD. DON'T BE ASHAMED, IT HAPPENS TO THE BEST OF US. I CAN'T WAIT FOR IT TO BE OVER. I START GETTING CREDITOR CALLS EVERY MORNING AROUND 8AM, IT'S STRESSFUL, BUT I KNOW IT HAS TO HAPPEN. YOUR ARE NOT ALONE : )
    Anonymous

    Answer by Anonymous at 9:28 AM on Jan. 8, 2009

  • THE PERSON WHO STATES PLANET EARTH, YOU HAVE NO CLUE WHAT YOU ARE TALKING ABOUT. I KNOW 6 PEOPLE WHO HAVE FILED BANKRUPTCY AND THEY ALL RECEIVED CREDIT CARD OFFERS AFTER THE FACT. WE ALL HAVE IT HARD SOMETIMES AND NEED A WAY OUT. I THINK CREDIT CARD COMPANIES GET BY WITH WAY TOO MUCH. I KNOW I HAVE PAID OFF MY DEBT AT SOME POINT IN TIME, BUT WITH APR'S AND FINANCE CHARGES, IT'S IMPOSSIBLE WITHOUT WINNING THE LOTTERY.
    Anonymous

    Answer by Anonymous at 9:33 AM on Jan. 8, 2009

  • anon 6:33 ..then those 6 people are on another planet or thier BK's were more than a year ago.
    Even credit card companies are tightening their guidelines..and there are new laws going into effect that will seriously make CC companies a bit more restricted and on the up and up. Thank Goodness. I agree completely that they have gotten away with far too much under handed and shadey crap. I am in the mortgage business and I see on a daily basis the crap those people pull.
    mamakirs

    Answer by mamakirs at 12:53 PM on Jan. 8, 2009

  • It was three years ago. We all live here on Earth sweetie. I am filing BK right now and can't wait to live my life without financial burden. I don't trust mortgage companies either. I just purchased a home myself.
    Anonymous

    Answer by Anonymous at 3:25 PM on Jan. 8, 2009

  • OK seriously Im not trying to be a jerk but you ..are filing BK right after you just bought a home that you obviously cannot afford and you don't trust mortgage companies? IRONIC much?
    mamakirs

    Answer by mamakirs at 6:58 PM on Jan. 8, 2009

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