Wondering if it was worth it? I'm trying to recover from credit card debt... fell on hard times and trying to make ammends with the creditors. I cant even make the minimum payments. My credit is already screwed up. Any feedback??
2006-12-28 08:14:43 · 3 answers · asked by diva 6 in Business & Finance ➔ Other - Business & Finance
I was suffering from chronic unemployment a few years ago and I finally filed. It was one of the hardest things I've ever done but it has brought me the most happiness. I filed mine before the new laws came out saying you have to pay some portion back. I got all of mine dismissed except my student loans, house and car which I opted to keep (house & car). It was the best thing I ever did for myself. It feels like the weight of the world is finally off my shoulders.
An attorney will tell you to stop paying your bills right now. Save up the down payment for the attorney (mine was $500). Then you get about 90 days to pay out the balance (mine was $700). Once the attorney is paid he will take it to court. It is my understanding that now you must pay back a portion but that is porbably better than the situation you are in right now.
I suggest you contact an attorney today and set up an appointment, or at least find out what his down payment requirement is. Get yourself out of that sinking boat and back on dry land. Since your credit is already screwed up you don't have anything to lose. And you know what? I don't feel one bit guilty about it any more. Those gouging, rip off credit card companies have been stealing from the American consumer long enough.
Screw them back!!! File for bankruptcy TODAY!!! You've got nothing to lose and a paycheck to gain! For once you will be able to pay cash and I'm telling you you will have plenty of it after you go to court. It feels great to know that you don't have to worry about paying so many bills and budgeting like a fool anymore!!!
I only wish I would have filed a year earlier ~ I'd have several more thousand left in my bank account.
Good Luck!!!
2006-12-28 08:42:22 · answer #1 · answered by Sunny_1_ 3 · 1⤊ 0⤋
Yes several times. My husband is an impulse buyer & it has hit us pretty hard at times since he doesn't pay for his impulses. We went 13 then switch it to 7 then did 13 again a few years ago. That time we totally paid it off. I had around a $100 taken out of my check each week till it was paid off. The chapter 7 hurt us alot worse because of it showing up on our credit reports ANYTIME it got pulled (it takes longer to drop off your report). Yes even some jobs pull up a credit report.
How bad is your debt?? They are passing laws to make it harder to file now a days
Are there anyways you can pinch what pennies you got? I've made alot of cut backs in our family and I can feed four of us on about $50 a week. Yes the meals get pretty boring but the sacrifice will pay off in the long run and we only eat out about once a month.
Do you live alone or are there kids involved?? Try getting a part time job for awhile. Yes working as a grocery clerk might be demeaning for some but it's better than selling of your stuff to pay the bills.
Check to see if your town ever offers a financial management/budgeting class. The fees are usually pretty cheap and you pick up ALOT of good tips.
So NO it wasn't worth it we couldn't do anything with our credit till the bankruptcies dropped of. After that it took us around a year to fix my husband's credit so we could get our first home. Now we have to work on mine.
Hope any of this helps & good luck
2006-12-28 08:39:27 · answer #2 · answered by mindy m 2 · 1⤊ 0⤋
No but i am in the same boat...my kid's dad filed like 6 years ago and immediately afterwards he had all kinds of creditors wanting to issue credit. One bad thing i have heard is that auto insurance companies can raise your rates based on your credit, which is total bs...and if you filed bankrupty it will def raise your rates, which i dont understand...your credit has nothing to do with the way you drive. I am gonna keep an eye on here and see what type of responses you get, cuz i was interested in finding out too!!
2006-12-28 08:24:19 · answer #3 · answered by repodana 4 · 1⤊ 0⤋