Bankruptcy?

[TCPluto]

My business flopped and this was mostly business debt, and some personal. It wasnt like I was planning to do this, because that is just wrong.

Everything you suggest doing is just wrong...

 

[iluvmickeytown]

Wow I don't know where to start. First thanks for everyone that has responded. That's why I asked on the DIS cause I always found everyone so nice and helpful.


thinkinaboutdisney - I am not one to judge. Everyone has to do what they think is right. It's very hard to think what you would do unless you are in a situation. Thanks for taking the time and telling me what worked for you. I don't think you're a troll. Course I have been accused of being naive . I like to give people the benefit of the doubt. I can live with myself alot better if you're a troll and fooled me then if you're someone trying to be nice and I was mean to you.

Thanks to everyone that suggested sites to visit. I will do that. I just wanted to get opionions. Trust me BK is the last thing I want to do.

It's such a scary place to be. It wasn't like we used up the cc on crazy stuff we've been using them to pay bills and grocery. Anyway thanks.

Good luck to everyone this year on their finances. Life is still good everyone in my family is healthy and doing good. What more can I ask for.

 

[nowellsl]

I am debt free, only one credit card open but with a zero balance. We are planning a disney trip to celebrate! Which will be paid with from saving cash not credit.

I know what you did is done all the time by some of these so called debt relief programs, it just sounds a lot like you are bragging about it! That's what really makes it sound so bad to some of us.

 

[TCPluto]

We more than paid back the actual funds we borrowed from the CC's...more like 3-4x over so I don't feel bad for them at all.

So feel free to judge but until you've walked a mile in someone's shoes don't pretend you even have a clue about them.

DYK Trip back on! 4/8-11/08
Star Wars Weekend (DH's trip) 6/6/08-6/8/08
DVC IL adventure 12/2-9/08

No you didn't, not at all.

You certainly can't be surprised that within a year of being relieved of all of your debt, you have three WDW trips planned and people find that distaseful?

Most of us pay all of our bills and can't afford three trips to WDW in a year....

 

[Anjelica]

No you didn't, not at all.

You certainly can't be surprised that within a year of being relieved of all of your debt, you have three WDW trips planned and people find that distaseful?

Most of us pay all of our bills and can't afford three trips to WDW in a year....

Amen!

 

[aka-mad4themouse]

Please address the original topic and refrain from comments about other posters and their financial choices. The OP asked about BK and who better to offer advise than someone who has BTDT? Please don't scare them away from answering.

 

[delmar411]

No you didn't, not at all.

You certainly can't be surprised that within a year of being relieved of all of your debt, you have three WDW trips planned and people find that distaseful?

Most of us pay all of our bills and can't afford three trips to WDW in a year....

Well I pay all my bills too. What a judgmental and lame thing to say.

I find it distasteful that you would even dare tell me how you think I should live my life.

I can imagine you must think Dh and I are living the high life now that those debts are off our backs.

Ah wait, you must want to move into the ghetto with me! Lots and lots of empty, trash filled houses here...come on down and live in ghetto luxury with me! Live the high life here...please ignore the heavy base beats from the houses and cars, and the roaring highway just feet from the front door...apparently those are such luxury items! Don't mine the pit bull next door, they put him on a lease occasionally!

If you were sitting on this side of the computer, you'd go back and erase your comments because you'd see how off base they are.

I mean seriously...my entire excitement this month comes from finally getting hot water in our showers and kitchen after living here since the middle of Dec and from finally getting a replacement cabinet so we could toss the feces stained one from the kitchen. I must have missed the memo that this was *THE* life.

 

[KNEIPPK]

My Hubby and I did this Late 2007- we really tried to keep up on all the expenses- house payments and cc- but after a rough year - we just had no choice but to look at other options- we had our house on the market for over a year with no bites- appraised at 199- sold at the foreclousure for 149-WE were very naive about the housing market

We got a lawyer and filed chap 13- with a repayment plan we can afford and no credit cards now- we are happy with the descion we made and know our credit will be bad for 7 years- with the new laws you do have to take 2 classes- we were able to do them on line- and it worked for us- currently no trips planned for us-

Sending good wishes

 

[mommytobug]

Well I pay all my bills too. What a judgmental and lame thing to say.

I find it distasteful that you would even dare tell me how you think I should live my life.

I can imagine you must think Dh and I are living the high life now that those debts are off our backs.

Ah wait, you must want to move into the ghetto with me! Lots and lots of empty, trash filled houses here...come on down and live in ghetto luxury with me! Live the high life here...please ignore the heavy base beats from the houses and cars, and the roaring highway just feet from the front door...apparently those are such luxury items! Don't mine the pit bull next door, they put him on a lease occasionally!

If you were sitting on this side of the computer, you'd go back and erase your comments because you'd see how off base they are.

I mean seriously...my entire excitement this month comes from finally getting hot water in our showers and kitchen after living here since the middle of Dec and from finally getting a replacement cabinet so we could toss the feces stained one from the kitchen. I must have missed the memo that this was *THE* life.

I think we all have values and choose to live our lives according to those. It is not anyone's place to judge what you choose to do. I know what I would do but that is me and noone else.

 

[aka-mad4themouse]

Last warning before I close this thread.​

Stick the the OP's question and refrain from the snarkiness that I'm seeing from both sides. You're not winning anyone over with your comments and it is not serving to provide a friendly community environment. Further argumentative posts will be deleted and infraction points will be issued. Those wishing to discuss outside matters can take it to PM.

 

[BellePrincessBelle]

OP I hope you find what you're looking for and best of luck to you. To the others, you shouldn't post your bankrutcy and subsequent choices on the Dis if you don't want to be criticized.

 

[mudnuri]

To the OP-

Please do not feel as though everyone here on the dis lives in a lala land full of payments that are never late. You came here looking for experiences- and what you found was a bunch of people basically telling you what a horrible person you

I STRONGLY urge you to go to creditboards.com they will NOT judge you, and will help you make the decision that ONLY you can make.

Brandy

 

[aspcamhreditor2]

I commend the OP for looking for input. It's often helpful to seek opinions and advice. However, info like this on a forum about WDW is just that ... opinion and advice. Take some of this w/ a grain of salt. It's like talking to your best girlfriend to get her opinion on a new hair do.

You can probably find many resources on ine simply by doing a Google search. I'd read up on consolidation, elimination and bankruptcy. I know you asked about bankruptcy, but I would have also assumed you were also interested in alternatives to that as well. In today's climate, there is A LOT of info out there ... it's just a matter of finding it.

If you get any of those debt help notices via e-mail and any of the businesses give free consultation, you might consider contacting those. There are counselors and lawyers who specialize in bankruptcy. Of course, be advised, some businesses do offer "solutions" EXACTLY like was suggested in an early post to this thread caused so much upset (not paying and then negotiating a lesser amount. Good, bad or indiffernent, THAT method does happen ... regardless of what anyone might think of that option.). But also remember, this type of debt relief as well as many other parts are big business; therefore, if there's money to be made, not everything presented might be a quality option.

I would definitely do as much research as possible from "free" sources and make some PERSONAL decisions about what you can and cannot do.

Also ... only you can decide if you have satisfied an obligation to a cc company or not if you make an agreement. It would seem to me that some companies would find partial restitution better than the nothing they might get if you declared bankruptcy.

Also, as a business owner w/ separate business & personal credit cards and taxes and who also just received the VERY advice from a "professional" service to do what was outlined on this thread to much consternation ... I want to send a message to thinkinaboutdisney ... not everyone will have your experiences; therefore, no written word can adequately convey some things in a written forum like this. Please know that some of what you shared is not as offensive nor as unthinkable to those who have similar experiences.

Although the initial post was about bankruptcy, I was glad to see ALL of the info presented. There are certainly lots of options to consider ... aren't there?

 

[budbeerlady]

To the OP-

Please do not feel as though everyone here on the dis lives in a lala land full of payments that are never late. You came here looking for experiences- and what you found was a bunch of people basically telling you what a horrible person you

I STRONGLY urge you to go to creditboards.com they will NOT judge you, and will help you make the decision that ONLY you can make.

Brandy

Creditboards.com is the best. They really helped me out when I had to refi my house. Best of luck !

 

[tonilea]

If you want to avoid bankruptcy, I strongly recommend taking a "Financial Peace University" class by Dave Ramsey. We took it through our church and it was some of the best money we ever spent.

 

[nowellsl]

I commend the OP for looking for input. It's often helful to seek opinions and advice. However, info like this on a forum about WDW is just that ... opinion and advice. Take some of this w/ a grain of salt. It's like talking to your best girlfriend to get her opinion on a new hair do.

You can probably find many resources on ine simply by doing a Google search. I'd read up on consolidation, elimination and bankruptcy. I know you asked about bankruptcy, but I would have also assumed you were also interested in alternatives to that as well. In today's climate, there is A LOT of info out there ... it's just a matter of finding it.

If you get any of those debt help notices via e-mail and any of the businesses give free consultation, you might consider contacting those. There are counselors and lawyers who specialize in bankruptcy. Of course, be advised, some businesses do offer "solutions" EXACTLY like was suggested in an early post to this thread caused so much upset (not paying and then negotiating a lesser amount. Good, bad or indiffernent, THAT method does happen ... regardless of what anyone might think of that option.). But also remember, this type of debt relief as well as many other parts are big business; Therefore, if there's money to be made, not everything presented might be a quality option.

I would definitely do as much research as possible from "free" sources and make some PERSONAL decisions about what you can and cannot do.

Also ... only you can decide if you have satisfied an obligation to a cc company or not if you make an agreement. It would seem to me that some companies would find partial restitution better than the nothing they might get if you declared bankruptcy.

Also, as a business owner w/ separate business & personal credit cards and taxes and who also just received the VERY advice from a "professional" service to do what was outlined on this thread to much consternation ... I want to send a message thinkinaboutdisney ... not everyone will have your experiences; therefore, no written word can adequately convey some things in a written forum like this. Please know that some of what you shared is not as offensive nor as unthinkable to those who have similar experiences.

Although the initial post was about bankruptcy, I was glad to see ALL of the info presented. There are certainly lots of options to consider ... aren't there?

This is one great post!

 

[tmonferdini]

We used incharge.org (I think that's the site) 3 or 4 years ago. It's called in charge debt solutions. They contacted the cc companies for us and got our over the limit (due to late pmts) stopped and got us down to between 6-9.9% on all the cards we included. We had to do something because the Discover people are CRAZY!!!

I couldn't work while hi-risk pregnancy w/twins & then they were preemies and couldn't go back while they were still in the hospital. Came home on apnea monitors & constant feedings plus a 3 yr old at home already. I was off work for 10 months + twins = NO MONEY. We were using credit cards to buy groceries!

Anyway, after the discover people went nutso on me for the last time & were going to sue me for like $1400, they actually suggested this company. We put in like 7 credit cards and came up with a budget + paying them $30 per month for their "expertise". It was well worth it for us!!!

One of the guys I work with was having some financial problems and I told him about my company. He went another way & wound up having to file bk last year. He said now he wishes he would have listened.

Since we did this, my credit score has gradually gone up. We bought a new house 2 1/2 years ago at a fairly high interest rate (almost 10%), refinanced last year from a 30 yr mtg to a 20 at 6.393% and are in the process of refin again this month for 20 yrs @ 5.60%.

It's hard & it SUCKS, but it can be done when you absolutely don't think there is any hope. Hang in there and give this company a call! Good luck.

BTW: I did learn something tonight! I now know what a troll is (not that this person actually is one, but the meaning of it). Thanks for that!!!
Tracy

 

[Anjelica]

To the OP-

Please do not feel as though everyone here on the dis lives in a lala land full of payments that are never late. You came here looking for experiences- and what you found was a bunch of people basically telling you what a horrible person you

I STRONGLY urge you to go to creditboards.com they will NOT judge you, and will help you make the decision that ONLY you can make.

Brandy

I don't think anyone here has criticized the OP for coming here and asking legitimate questions, etc. I think, at least in my opinion, where some of the frustration comes from is those that have posted with seemingly outrageous stories of how to get out of paying, etc. etc. etc.

While I have never been in the situation as an adult I do remember my father having to file Chapter 11 I believe it was. My parents had a nasty court battle that took place in two differing states and basically cost both of them lots of money. In the end, the children ended up with my dad who was just retired from the military and trying to make ends meet. He ended up filing Chapter 11 (again I believe that is the one) where it was a repayment schedule over the course of 7 years. This wasn't easy for him and us kids at all. Imagine being 17 years old and trying not to let friends know your dad was basically filing bankruptcy - even if it was brought on by thousands of dollars in court fees.

To the OP - I think many of the posts here have offered good advice and links to varying boards, etc. I know bankruptcy laws have changed quite a bit since my dad filed. Good Luck and hope it all works out for you guys.

 

[Planogirl]

Some of the options available to you will depend on the creditor you're working with too. I know of one that will only work with a debt counseling agency and will refuse to let you set up a plan yourself.

Do your research, work out agreements if you can and keep an eye on your credit. People get through a lot of financial struggle but it takes work and usually lots of time.

 

[Kickapoo Joie Juice]

oops. just read the mod's warning...