Bankruptcy advice and opinions - all welcome

[RuB2sday]

I am "regular" DISer hiding under a differet user name.

I am NOT trying to start a debate, but want a variety of opinions on the subject of bankruptcy.

A brief background - I lost my job and now cannot afford to pay my bills. I met with a CCCS advisor and was advised to seek the advice of a bankruptcy attorney since I can't even meet their payment plan requirements. I have an appointment with an attorney next week.

I am working a temporary job, but it's just not enough income.

There's a part of me that is totally ashamed at my situation and I just need to talk anonymously with folks who have a variety of experiences. And yet there is a part of me that feels like I'm trapped and have no other choices right now.

This post is probably too vague and I know there are folks here who will have lots of questions and comments about my personal choices. That's okay - I have thick skin!

So, have you filed for bankruptcy? Do you mind sharing a bit of your situation before and after?

What can I expect?

How hard will it be to find a good job after bankruptcy?

Any advice on finding and choosing an attorney (questions I should ask, etc)?

Let it rip folks! But keep things within the DIS guidelines 'cause I don't want this thread closed!

Thanks.

 

[ErinC]

I have no advice to offer you really. I just cringe when I see these posts because people say things to people on forums such as this that they would never say to another person face to face. I feel for you or anyone who finds themselves in this situation. I wish you the best in getting it resolved and moving on with your life. Hopefully others will come along and be as helpful as possible. I know you said you have thick skin, I'm sure that we are about to find out how thick. I hope things will get better for you soon!

 

[taylor3297]

I am "regular" DISer hiding under a differet user name.

I am NOT trying to start a debate, but want a variety of opinions on the subject of bankruptcy.

A brief background - I lost my job and now cannot afford to pay my bills. I met with a CCCS advisor and was advised to seek the advice of a bankruptcy attorney since I can't even meet their payment plan requirements. I have an appointment with an attorney next week.

I am working a temporary job, but it's just not enough income.

There's a part of me that is totally ashamed at my situation and I just need to talk anonymously with folks who have a variety of experiences. And yet there is a part of me that feels like I'm trapped and have no other choices right now.

This post is probably too vague and I know there are folks here who will have lots of questions and comments about my personal choices. That's okay - I have thick skin!

So, have you filed for bankruptcy? Do you mind sharing a bit of your situation before and after?

What can I expect?

How hard will it be to find a good job after bankruptcy?

Any advice on finding and choosing an attorney (questions I should ask, etc)?

Let it rip folks! But keep things within the DIS guidelines 'cause I don't want this thread closed!

Thanks.

First you did a good thing by going to CCCS. That is a wonderful organization. If they recommended you to see a bankruptcy attorney, then you should. Make sure you find an attorney that is very knowledgeable in all types of bankruptcy.

As to finding a job that just depends. Not all jobs check for bankruptcy. Some that do, may ask you in an interview why you had to file.

Now if you do end up filing bankruptcy, there are ways to start building your credit soon after.

I wish you the best of luck.

 

[RuB2sday]

Thanks for the support ErinC and taylor3297.

I wish I wasn't in this situation too. Prior to losing my job I was diligently working toward paying off all unsecured debts. That got sidetracked - big time!

Life happens, you know?

 

[taylor3297]

Thanks for the support ErinC and taylor3297.

I wish I wasn't in this situation too. Prior to losing my job I was diligently working toward paying off all unsecured debts. That got sidetracked - big time!

Life happens, you know?

I totally understand. I have been in your shoes.

 

[cglaura]

Would you be comfortable listing out your monthly bills & balances? Not exact to whom, but for example...

Electric:
Phone:
Mortgage/Rent:
CC1:
CC2:

There are a lot of savvy people on this board, perhaps can come up with some options.

What are you options for work...as in...when available. Are you willing to work whatever you can, no matter how yucky?

I only ask, because at one point in a bad spell after divorce, I worked 4 jobs at one time (1 full, 3 p/t). One was cleanup/closing a bar.

I was very fortunate though because I had a few good people in my circle of family and friends to help watch dd.

I'm sure if you are to the point of posting this though, that you have explored your options and are at a tipping point. But just asking so better to give you advice.

Whatever the case, It is a daunting thing to be facing.

 

[crisi]

My husband declared bankruptcy due to graduating with a ton of student loans into the recession of the late 1980s.

He's very successful now. It took a while to get there, and he had to learn some things from his mistakes.

There can be a happy ending, but it may be a bit away before you are comfortable again.

 

[RuB2sday]

Electric: around $70 (on a budget plan, it was just reduced but will go up again in December)
Gas: around $60 (budget plan)
Cable/Phone/Internet: $180 (need internet for job searches)
Cell phone: $70 (need to keep as number is listed on resume)
Water/Sewer: about $75 every other month
Mortgage: about $840
HOA: $75
2nd Mortgage: $300
CC1: $129
CC2: $144
CC3: $118
CC4: $102

That's just the basics, we no longer have health insurance and we both take several prescriptions (just delivered prescription assistance forms to my doctor) so those costs as well as costs to live (gas, groceries, etc) are not included. I will be contacting my auto insurance carrier to change the coverage to try to maintain coverage.

My temporary job has hours from 9-5 and is about 45 minutes from home. The schedule is irregular (no set days off) but 40 hours per week and I have requested (and gotten) "regular" overtime. By the time I get home, I'm simply too exhausted to do another job (I'm not as young as I used to be). This job is doing a number on me physically. It might get better if it becomes permanent and I get used to it, but right now I simply don't have the strength/energy.

I do wonder how long it will be before things are "normal"...I guess that status varies as much as the people defining it though, huh?

 

[cookingqueen123]

We did a BK after my husband lost his job and couldn't find another and then decided a 2 year vacation was the way to go leaving me to shoulder all the responsibilites with 2 children. Needless to say, I am divorced now with sole custody but the BK was THE BEST THING I EVER DID! I got an attorney, she handled the whole thing and the peace I have now, I can't even tell you.

Within in 2 days of discharge, I had a credit card to help me rebuild my credit and 2 years later, I bought a home.

Am I proud of it? No. But I really had no other option. As my attorney told me, you have already repaid this debt with the interest you have been paying, many, many times.

Will others here agree with my choices? Probably not. I do not regret the choice at all. Good luck and if you need more info PM me.

 

[njmom47]

My husband declared bankruptcy due to graduating with a ton of student loans into the recession of the late 1980s.

He's very successful now. It took a while to get there, and he had to learn some things from his mistakes.

There can be a happy ending, but it may be a bit away before you are comfortable again.

I declared due to divorce and being left with a ton of bills (this was almost 20 yrs ago). I also went to CCCS and was told I didn't make enough to come close to covering my bills.
There is life after bankruptcy but it does take awhile.
I agree with this poster.

 

[cglaura]

Electric: around $70 (on a budget plan, it was just reduced but will go up again in December)
Gas: around $60 (budget plan)
Cable/Phone/Internet: $180 (need internet for job searches)
Cell phone: $70 (need to keep as number is listed on resume)
Water/Sewer: about $75 every other month
Mortgage: about $840
HOA: $75
2nd Mortgage: $300
CC1: $129
CC2: $144
CC3: $118
CC4: $102

That's just the basics, we no longer have health insurance and we both take several prescriptions (just delivered prescription assistance forms to my doctor) so those costs as well as costs to live (gas, groceries, etc) are not included. I will be contacting my auto insurance carrier to change the coverage to try to maintain coverage.

My temporary job has hours from 9-5 and is about 45 minutes from home. The schedule is irregular (no set days off) but 40 hours per week and I have requested (and gotten) "regular" overtime. By the time I get home, I'm simply too exhausted to do another job (I'm not as young as I used to be). This job is doing a number on me physically. It might get better if it becomes permanent and I get used to it, but right now I simply don't have the strength/energy.

I do wonder how long it will be before things are "normal"...I guess that status varies as much as the people defining it though, huh?

With all the medical stuff thrown in and if CCCS gave you that advice I think you are probably doing what is best for you. Not that it really matters what I think!

My friend went through bankruptcy, and is now working in a fantastic job and doing very well. She is able to put her daughter through private college and they are in their own home now. It was a rough road, but yes there is life after.

One small thing...I'd cut the cable/voice from your bundle. Just get internet, can be around $45. Especially if you already have a cell phone you are able to use. You could get Netflix for awhile, with a roku box (about $40 one time purchase). That would only be $8/month vs. I'm guessing about $70 or so cable. If you really need phone, get pricing on different places if your area offers them. I get internet through Comcast, $48. And basic no-frills landline phone is $26 through Verizon. Although I do have digital cable now, it is only very recent. I went a very long time with just the local basic basic and Netflix. It was hard when I first cut off, but you'd be surprised how easy it is to adjust.

Good luck!

 

[Chelley00]

There can be a happy ending, but it may be a bit away before you are comfortable again.

I agree with this. DH had to file bankruptcy after his ex-wife left after spending most of their short marriage on a unknown-to-him shopping spree. It took awhile for him to rebuild his credit, but we were able to buy a house 3 years after his bankruptcy.

 

[sookie]

Food and shelter come first. You feed yourself and your family, you keep a head over yourself and your family (and utilities on). You keep a car because you need to get to work (or use public transportation if it is viable in your city - but in a lot of cities it is not).
Other than that, if you cannot do it - you cannot do it.
Go with the BK attorney and get it over with.
I know you will feel bad but move on.
Apply for state aid to get your kids (if you have them) covered for any medical.
I have never had to go through this but I know a lot of people have had to go through this. Do what you have to do and better yourself. Sorry that you have had to do it. with the economy like it is - you aren't alone.

 

[AnastasiaF]

I had to file about 15 years ago when my then spouse left me with a ton of bills and two babies. I have had two close friends file in the last year.

Sadly its not that uncommon...the economy stinks. Go for it, the relief from not having bill collectors calling you constantly is more than worth any embarrassment.

 

[pamkev]

I sent you a pm

 

[RuB2sday]

With all the medical stuff thrown in and if CCCS gave you that advice I think you are probably doing what is best for you. Not that it really matters what I think!

My friend went through bankruptcy, and is now working in a fantastic job and doing very well. She is able to put her daughter through private college and they are in their own home now. It was a rough road, but yes there is life after.

One small thing...I'd cut the cable/voice from your bundle. Just get internet, can be around $45. Especially if you already have a cell phone you are able to use. You could get Netflix for awhile, with a roku box (about $40 one time purchase). That would only be $8/month vs. I'm guessing about $70 or so cable. If you really need phone, get pricing on different places if your area offers them. I get internet through Comcast, $48. And basic no-frills landline phone is $26 through Verizon. Although I do have digital cable now, it is only very recent. I went a very long time with just the local basic basic and Netflix. It was hard when I first cut off, but you'd be surprised how easy it is to adjust.

Good luck!

Thanks for the tip. It may be hard to give up that cable (it's the only entertainment we have! LOL) but we gotta do what we gotta do!

I sent you a pm

Thank you. I don't have enough posts to respond but wanted to say thanks!

 

[lilmrsellis]

First, let me say i used to be a Paralegal working on bankruptcies and please, please, PLEASE file as a VERY last resort. It is not something you can take back and will affect pretty much every aspect of your life and, depending on age, your children's' lives as well (college loans, etc.) As for jobs, whether they check for bankruptcy or not depends on your occupation. My brother is a forensic chemist and is currently trying to get a job with a prominent police department. They are even checking bankruptcy, criminal records, etc. on my parents and my husband and I!!

 

[rascooby]

Definitely give up home phone and cable. We're not super tight on money, but we decided to just give it up for the summer and see if we can save $140 a month. We got a Roku and use our X-box and Roku to watch Netflix. I still watch a few shows online at CBS but we really don't miss tv very much. We don't miss the home phone even one tiny bit.

 

[marmalade]

Thanks for the tip. It may be hard to give up that cable (it's the only entertainment we have! LOL) but we gotta do what we gotta do!



Thank you. I don't have enough posts to respond but wanted to say thanks!

A lot of shows can be viewed online a day or two after their air-date. I always miss a show that I like and watch it the next day on the channels website. Just an idea to maybe make it easier for you to cancel cable. Netflix is another option, however I don't really find much on there that I like, my kids watch it on a regular basis though.

Good luck with whatever you decide, either way you go you will have a long road ahead of you.

 

[mrsklamc]

Good luck. If cccs says you need to file you probably do.

If your cell is what's on your resume, cancel cable, home phone- and Internet, if you have access to a library or have a smartphone.