Bankruptcy

Dopie Opie

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#1
Anyone here file bankruptcy in the last two years, since they changed the laws ??

We have been battling for a couple of years and really can't seem to catch up, never mind get ahead. I make a damn good living and am a little embarrassed by the situation, however, if this its the only way out, we might as well get on the road to recovery sooner, than later

Forum now open for discussion. Bash away fuckers.
 

THE FEZ MAN

as a matter of fact i dont have 5$
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#3
sell every thing that you own except your home
 

Fruit Monkey

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#4
no one will bash u on this money is fucked up for alot of people this year. no one here is well enough off to say shit to no one, hope it work outs for u
 

Dopie Opie

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#5
Probably just going through a cash crunch. I just switched jobs. More money, signing bonus just the wrong time of the year. I am waiting to get reimbursed for about 2k in expenses.

Waiting for the sign on bonus.

Got screwed by the last place going out the door.

Was a bit strapped prior to switching.

Should be ok in by the end of January, but I am curious what people's experiences have been.

If there is anyone who has done such.






EDIT - And thanks for the support.
 

PatFromMoonachie

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#6
no one will bash u on this money is fucked up for alot of people this year. no one here is well enough off to say shit to no one, hope it work outs for u
Amen, brutha!

I still have a $250,000. hospital bill from my "little piggie" being slaughtered :erstaunt2

...wanna pm ME too??



..MERRY CHRISTMAS EVERYBUDDAH!! :action-sm
 

Sinn Fein

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#7
Everyone is tight on cash in this economy. I didn't use most of my vacation time this year because my company buys it back from me. Basically, I can get paid my hourly rate for all the unused time. So, I am gonna get what amounts to an extra paycheck and a half in January. And, it's all going to pay bills. Earlier this year, my wife had to spend a week in the hospital, and then have surgery a month later. While I have excellent medical, there's part of it that we're getting billed for.
 

foyb

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#8
I got really lucky, I filed bankruptcy just before the laws changed. My best bud just filed a month or so ago, and had a lot more stuff to deal with than I did. If it's credit card debt, a credit counseling place might be worth a try. I've used one in the past, and it gets things straightened out without screwing your credit.
 

distortion9

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#9
Amen, brutha!



I still have a $250,000. hospital bill from my "little piggie" being slaughtered :erstaunt2

...wanna pm ME too??



..MERRY CHRISTMAS EVERYBUDDAH!! :action-sm
Shit...I would have blown that crusty lil thing off with my 9mm had you just asked.
 

Ren5150

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#10
Send me that info as well, curious about this unfortunately because I have to be.......
 
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#12
I got really lucky, I filed bankruptcy just before the laws changed. My best bud just filed a month or so ago, and had a lot more stuff to deal with than I did. If it's credit card debt, a credit counseling place might be worth a try. I've used one in the past, and it gets things straightened out without screwing your credit.
Not true.

In many ways CCC is worse on your credit than a Bankruptcy. (Under the old laws at least)

I don't want to get all soap box ranty about it, but never, ever think that Consumer Credit Counselors are throwing you a life preserver from their "non-profit" ivory tower. They're commission based sales people just like anyone else, they just are trained to counsel sell rather than sell sell.

And yes, it does fuck up your credit.
 

Creasy Bear

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#13
Two words... Dave Ramsey.

http://www.daveramsey.com/

XM channel 165 3pm - 7pm M thru F.

DO NOT file for bankruptcy. DO NOT do a debt consolidation. DO NOT seek the service of a "credit counselor"... until you have heard Dave Ramsey's message- read his books (you can get them at the library), attended his Financial Peace University, etc...

http://www.daveramsey.com/the_truth_about/debt_3036.html.cfm

http://www.daveramsey.com/the_truth_about/bankruptcy_3018.html.cfm

The Truth About Bankruptcy

Myth: I'll just file bankruptcy and start over; it seems so easy.
Truth: Bankruptcy is a gut-wrenching, life-changing event that causes lifelong damage.
Good luck, bro.
 
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#14
I'd certainly avoid bankruptcy at all cost. How much are you in? I mean if you're at risk of loosing your 'well being' then perhaps it's a different story. I'm assuming that things are pretty bad since you're considering it.

I'd liquidate everything you can and try to make it out. That's not easy, but I hope it's an option.

I've kept my bills & personal recreation expenses really low this year & I'm still scratching. I've been putting off alot of expenses for some time... including some of my health & dental needs. It sucks.

Good luck.. resolutions won't come overnight, but it could happen if you play conservatively.
 
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#16
And always remember, medical bills are the least important thing to pay out of everything. No creditors count this debt against your ratios, and it has the least impact on your credit score of any consumer debt.

No one's going to think your ability and/or willingness to prove timely repayment is linked to your desire to stay alive, and every creditor knows health care is outrageously over priced.
 

Kris_LTRMa

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#17
You can always look into a debt consolidation loan. If your credit is half-way decent, you can get a lower APR. Stay away from HSBC - their rates are outrageous. Even Dave Ramsey advises you to stay away from them. If you belong to a credit union, try there. Usually it's easier to get a loan from them and their rates are usually lower.
 
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#20
For the most part they are, but some Credit Unions do have better rates and programs for members... It's like anything else, some banks are going to be better than some Credit Unions, but some Unions blow every bank away.

Some Credit Unions are Credit Unions by name only because they are out to make money like anyone else, and they know that operating under the title Credit Union will lead their customers to feel secure in their programs and shop around less.
 

BCH

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#21
A strict budget and cutting out extra stuff can really make a difference. Mrs. BCH and I have recently reversed a downward trend in our savings account. We set a high but reasonable goal for the end of the year based on our income and what we could do without and exceeded that. A team effort and a written down plan can work wonders.
 
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#22
The bottom line about CCC and Debt Consolidation loans, etc, are that all money lending is done to make a profit. There is not a company or organization that exists to fix your problems without making a buck themselves. Even those companies claiming to be "Non-Profit" operate that way for tax reasons, and so that they can wave the "Non-Profit" flag to make you think their intentions are altruistic rather than financial.

I don't care how caring or understanding the sales side of the organization is, at the end of the day all they're trying to accomplish is getting you to declare your debt their property, and if you try to approach them with "But I told you my money problems! How could you forget all that when it comes time for me to make my payments to you?!" they're going to have the same uncaring, "Fuck you, pay me!" attitude of anyone else.

It has to be done in your own accounting. No one actually cares about your finances but you.
 
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#23
A strict budget and cutting out extra stuff can really make a difference. Mrs. BCH and I have recently reversed a downward trend in our savings account. We set a high but reasonable goal for the end of the year based on our income and what we could do without and exceeded that. A team effort and a written down plan can work wonders.

Yep. I worked my way out of a huge hole when I was in my late 20s. It took several years of living like a monk but it paid off big time. I still do it too.
 

Glenn Dandy

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#24
no one will bash u on this money is fucked up for alot of people this year. no one here is well enough off to say shit to no one, hope it work outs for u
I dunno these Wackbaggers may look down on him.




After the holidays , I,ll be eating garbage from trash cans.
 
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