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Mom Confessions Mom Confessions

Has anyone here filed bankruptcy?

Anonymous
Posted by Anonymous
  • 21 Replies
What brought you to that point of having to do this? Are you glad that you did? What negatives came from it? I am asking because things have gotten so bad for us and i dont know if they can be fixed.
Posted by Anonymous on May. 1, 2012 at 9:54 PM
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Replies (1-10):
P.V.Hawkwind
by Ruby Member on May. 1, 2012 at 9:54 PM
Nope
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mommie_to_be08
by on May. 1, 2012 at 9:56 PM
my husband n I just did, the worst from it, is it stays on ur credit for seven years n they took part of our tax money :( but only this one time.. We filled mainly cuz my husband had over 20,000 in credit cards n all I had was a few med. Bills but I still went ahead n did it.. Also sucks u can't so school loans :/
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couponluv72
by on May. 1, 2012 at 9:58 PM

we considered it when our debt between several back bills what not exceeded 10K. but we buckled up and dealt with it. we are down ot less than 3K in debt after 3 years hard work paying off those debts. 

Anonymous
by Anonymous - Original Poster on May. 1, 2012 at 10:00 PM
What about any existing loans? For example, a car loan. We cant lose our car, only vehicle we have! We have managed to keep those payments current and have only been late a handful of times. Does it affect things like that?
MomRocs1102
by on May. 1, 2012 at 10:00 PM

Yes I have, Most of my credit was young dumb and attempting to help those i thought i could trust, found out the hard way cant trust everyone

USCmomax4
by on May. 1, 2012 at 10:01 PM
Nope!
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Chuckydoodle
by on May. 1, 2012 at 10:03 PM

Yes, sadly I had to at one time. Not the high point in my life. I had a lot of medical bills from early on, and a problematic pregnancy that left me jobless for just long enough to have to throw my hands in the air. It has been the 7 years since, but it actually helped my credit rating at the time because all that negative was removed, so my debt to cash ratio was non existant. Downfall is higher interest rates for awhile. 

Edit... Yes you can keep your car, and house in most circumstance as long as you maintain paying for those items. 

Anonymous
by Anonymous on May. 1, 2012 at 10:07 PM
I did about 10 years ago. I am not making excuses but my ex really got us deep in debt and after a bad marriage it was the only way we could get divorced without me taking half his debt. We didn't own a house but we did lose a car. I was never late on a bill or anything before we actually filed so it killed me to do it but it got overwhelming. I was sacrificing other things just to keep up with the bills. After we filed and we got divorced I have worked damn hard to get my credit back on track and am happy to say I now have my credit score back up to around 790 and my bankruptcy is no longer showing on my credit bureau.
iluv2meow
by on May. 1, 2012 at 10:07 PM

never... dont plan to either

nikolitak
by on May. 1, 2012 at 10:08 PM
You can reaffirm the loan.

Quoting Anonymous:

What about any existing loans? For example, a car loan. We cant lose our car, only vehicle we have! We have managed to keep those payments current and have only been late a handful of times. Does it affect things like that?
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