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Not normal, beneficial debt. I mean hard core, consumer debt that you aren't paying.

I am. I need to file bankruptcy but I don't even have enough money to do that. :-(
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by on Nov. 23, 2012 at 1:37 AM
Replies (31-40):
by on Nov. 24, 2012 at 5:35 PM
No debt here I got myself into debt took a long time to dig out lesson learned
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by Bronze Member on Nov. 24, 2012 at 5:47 PM
Ah. Thank you so much. It is so encouraging to hear such a helpful comment.

It was my fault. All of the credit cards, the phone, AND the car (that still hurts). But I was young, and bipolar, and I didn't know I was screwin up.

I'm a mom, now and a student. I can't let my past hold me back from trying to get ahead. I don't need cosumer credit just normal credit. I can't with this stuff standing in the way.

Quoting ladylovemm:

When it gets over your head like this, go ahead and bankrupt. We did 12 years ago and when we filed, the very next day we were inundated with new credit cards congratulating us on our bankruptcy.  Life happens.  Even the world is bankrupting and companies do it all the time.  Take a loan out for the $395 to file and use that in your filing.  Find a company called We The People.  They are great.

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by on Nov. 24, 2012 at 5:49 PM

we have our car loans that we pay each month. Actually we pay more than the minimum requirements. But we dont have credit card debt or student loan debts or medical debts.

by Casey on Nov. 24, 2012 at 5:49 PM
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How much debt are you talking about here?

I just dug myself out this year and it feels amazing, but I will admit up front that my hand was kind of forced. I had about $8000 total on 4 cards. When moved in 2009 I was unemployed for about 6 months and just let the cards all go. My thinking was that I had to pay my car, I had to pay utilities, I had to buy food. I didn't HAVE to pay the cards, so down the tubes they went. I knew someday I would have to deal with it and spent three years dodging collection agencies. My state has a VERY short debt statute. Anything unpaid after 3 years falls off and you don't have to pay. Well, about 6 months from hitting my statute, the collection agencies came calling and all started serving me through the county court. Once one files against me, the others followed suit. I called the collection agencies and offered them cash settlement offers, one after the other. I settled each for half, or less than half owed. I ended up only really paying around $3000 on $8000 worth of charged off debt. The largest amount I settled for allowed me to do it in 4 payments. They WILL work with you if you contact them and give them a set amount you are willing to pay. The only companies I have heard of not willing to work on settlements are Capitol One and Wells Fargo, both of whom refused to settle with my sister when she tried the same tactic as me.

Worse case scenario they serve you and you have 2 options, find out your court date and show up, hoping they either don't show, (if its a small enough amount they may not), and you win by default, or if they do show you ask leniency and show the judge how much you can or can't afford and they garnish your paycheck or taxes.
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by on Nov. 24, 2012 at 6:04 PM

Not even a little bit.  We don't owe a single penny of debt to anyone.

by Anonymous 8 on Nov. 24, 2012 at 6:06 PM
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same boat as you.
by Anonymous 9 on Nov. 24, 2012 at 6:20 PM
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850 on overdraft that I want to clear. Keep paying wage into it but then re-use as Dh lost job.
by on Nov. 24, 2012 at 7:49 PM
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No...we've got an understanding...if we can't afford it, we don't buy it.  We pay our credit card off everything month.

by on Nov. 25, 2012 at 12:29 AM
What does bankruptcy mean I mean when you file it do you get money. Sorry I don't understand how that works
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by ♥ char ♥ on Nov. 25, 2012 at 12:30 AM
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