Chapter 7 survival

[DiznEeyore]

They go back six months for cash advances.

That's interesting to know. Another board I frequent had posters advising one girl to take cash advances on her credit cards and use it to pay on her student loans, because the cash advances would be discharged and the student loans wouldn't. This way she would have less student loan debt as well as no CC's after the bankruptcy.

I was stunned, and posted that it sounded tantamount to stealing (I mean, they were telling her to take money that she had no intention of repaying!), and was snottily informed that financial gurus advise people to do this. They claimed Suze Orman has encouraged people to do this on many occasions!

 

[rparmfamily]

Taking a lot of cash advances is a good way to get noticed by the trustee and the credit card companies I think!

 

[Goobergal99]

While I don't agree with taking cash advantages to repay student loan debt (although it is clever) I have taken out unsubsidized student loans and paid off my credit card debt... 6.8% is alot better then 19% now matter what way you look at it.

Now.... On the other hand I am paying off my student loans dilligently as we speak, but it still is alot better then having revolving credit card debt IMHO

 

[summerrluvv]

While I don't agree with taking cash advantages to repay student loan debt (although it is clever) I have taken out unsubsidized student loans and paid off my credit card debt... 6.8% is alot better then 19% now matter what way you look at it.

Now.... On the other hand I am paying off my student loans dilligently as we speak, but it still is alot better then having revolving credit card debt IMHO

What would be even more clever is just paying the tution with your credit cards from the start

That's clever about the loans to cover the credit card debt. How does that work with student loans? They don't ask for proof that you have paid tuition or something? (never had a SL so not sure how it works!)

 

[loco4dis]

OK...first time in my 10 years on the DIS...if they decide to "off" me for this...then OK...

I have always been silent about most topics...just lurking...hence my only 100 posts since 1998 (we only get credit since 1999!)

But, for crying out loud people...you have a thread on how to feel GOOD about being bankrupt, AND still planning your "magical" trip, to Disney World?

I am so totally disgusted, with the whole topic...I think I have to take a powder..
I wish you all well (ha, ha) on all you future scams...hope that I am not part of them
Adios!

I. Totally. Agree. All the "good lucks" and "I commend yous" are absolutely nauseating. Get a job. Pay your bills. Stop using your credit cards. And for the record, one is entitled to be "judgmental" when one will have to pay for another's greed and irresponsibility down the road — as all of us who pay our bills will have to eventually pay for those who do not.

 

[sz9144]

Thats why I became a nurse its recession proof

No profession is recession proof- medical offices shut down, hospitals lose funding. in these times nothing is certain.

 

[summerrluvv]

I. Totally. Agree. All the "good lucks" and "I commend yous" are absolutely nauseating. Get a job. Pay your bills. Stop using your credit cards. And for the record, one is entitled to be "judgmental" when one will have to pay for another's greed and irresponsibility down the road — as all of us who pay our bills will have to eventually pay for those who do not.

Why so quick to judge? How do you know the OP doesn't have a job? Do you live on LI? You would be quite surprised at the rate of foreclosures and job loss around here along with astronomical property tax increases that make it nearly impossible for people to continue to pay their credit card bills, medical bills while trying to maintain a roof over their head. Fall behind on a medical or credit card bill and you get sued, then your bank account gets frozen for 3 times the amount you owe the creditor, your salary is garnished, and you can't survive. Bankruptcy laws are in place for a reason.

 

[Goobergal99]

What would be even more clever is just paying the tution with your credit cards from the start

That's clever about the loans to cover the credit card debt. How does that work with student loans? They don't ask for proof that you have paid tuition or something? (never had a SL so not sure how it works!)

It depends on the school, my employer paid my tuition (I know very lucky) I took out student loans so my hubby could work part time and be there for DD while I was in school and working... They actually calculate living expenses in your FA package and as an independent student you actually get more loans, so as I said my tutition was paid for by my employer (all calculated in FA process since my employer paid the school directly which means I got less grant money then someone without tuition assistance would have had) In any case, I did get a small pell grant which covered my books and school fees ( tuition was covered but not fees) So I took the max ammount of student loans per year and used that money to part live off of and part pay off credit card debt with (school sends you a refund check after tuition is paid)

The kicker was since I chose nursing as a career I was eligible for some loan foregiveness (about 10,000 worth from work and state) and now I am paying the remainder off... I actually consolidated but since DH is working full time again I have started doubling the payments just this month so we will have them paid off quicker then the 25 years we anticipated.

So I have zero credit card debt, about 28000 in loan debt and a car payment.... thats all my debt! we don't own a home yet.... but we are considering buying eventually. we actually kind of like the renters lifestyle but I am really wanting a backyard.

 

[Goobergal99]

No profession is recession proof- medical offices shut down, hospitals lose funding. in these times nothing is certain.

Do your research.... the nursing shortage is estimated to be at 800,000 in 2012 (US)... the average age of a nurse is mid forties and they can't get enough teachers to educate new nurses.

I live in a major metropolitian city that is begging for nurses... I am pretty sure my job is safe for a very long time

It is about as close to recession proof as you can get

 

[luvsJack]

Do your research.... the nursing shortage is estimated to be at 800,000 in 2012 (US)... the average age of a nurse is mid forties and they can't get enough teachers to educate new nurses.

I live in a major metropolitian city that is begging for nurses... I am pretty sure my job is safe for a very long time

It is about as close to recession proof as you can get

In our town, one of our major hospitals cut the nurses' hours several months ago and now have announced 300 employees will be laid off (of all employees but will include nurses). I am sure most of them can easily get another job if they are willing to relocate but not everyone can pick up and move.

OP: I hope this give you the new start that you seem to need. Yes, some people file bankruptsy just as a way to get out of paying their bills; but for some its the only way out. Only you know which way it is for you. You are not required to feel guilty just becaue others choose to judge you.

 

[Fritochips4u]

I. Totally. Agree. All the "good lucks" and "I commend yous" are absolutely nauseating. Get a job. Pay your bills. Stop using your credit cards. And for the record, one is entitled to be "judgmental" when one will have to pay for another's greed and irresponsibility down the road — as all of us who pay our bills will have to eventually pay for those who do not.

How is filing bankruptcy being "greedy"?

Sorry, don't buy it...still think it's pretty wrong that people here are so harsh when people are "down on their luck", so to speak. It's called compassion.

I pray that you never find yourself so broke that you need to file bankruptcy. Must be nice to never have something go wrong in your life or have an unexpected expense/job loss where all you think about is surviving.

If you ever do find yourself down on your luck, I sure hope you have people around you that show you more compassion than you've shown here today.

 

[Goobergal99]

In our town, one of our major hospitals cut the nurses' hours several months ago and now have announced 300 employees will be laid off (of all employees but will include nurses). I am sure most of them can easily get another job if they are willing to relocate but not everyone can pick up and move.

OP: I hope this give you the new start that you seem to need. Yes, some people file bankruptsy just as a way to get out of paying their bills; but for some its the only way out. Only you know which way it is for you. You are not required to feel guilty just becaue others choose to judge you.

Well... then at least in my neck of the woods, I am safe.

 

[bluesaturn]

How is filing bankruptcy being "greedy"?

Sorry, don't buy it...still think it's pretty wrong that people here are so harsh when people are "down on their luck", so to speak. It's called compassion.

I pray that you never find yourself so broke that you need to file bankruptcy. Must be nice to never have something go wrong in your life or have an unexpected expense/job loss where all you think about is surviving.

If you ever do find yourself down on your luck, I sure hope you have people around you that show you more compassion than you've shown here today.

Some people live beyond their means, get in over their heads, then want a quick fix. Then we are supposed to feel bad for them. That is greedy. Maybe the OP is different, don't know enough about the situation, but it happens elsewhere. As far as I can tell it has happened on this board before. No wonder people are jaded.

 

[Goobergal99]

While we are on the subject... of living beyond means...

I think this is all circumstantial, I mean some may say that having a mortgage is being in debt, a car payment etc.... I am pretty sure most people here have a mortgage/car payment and still go to Disney or wherever on vacation.

Is this ok?? going to Disney having a mortgage payment? I'll even bet many of you have credit card debt as well..... even worse kind of debt but I will even go further and bet that many of you are paying off your trips with these credit cards and still managing to go...

Why should you judge someone in bankruptcy.. who is getting their lives back together for saving up and going to Disney.... I mean some may say you should take your vacation money and use it to pay more down on your car or house for that matter... but you still feel your fmaily is entitled to go...


I also wonder how many judgers live in homes that are beyond comfrotable for their income... especially those that frequent the budget board attempting to save 50 cents but somehow afford a home that costs 500,000.... I am all about saving some money but who really needs a mcmansion anyway??

We could start making flames against ppl who waste the earths resources with there big homes and gas guzzling SUV's.. shoot some people think having too many kids is selfish since the world is already so populated...

My point is noone likes to be knocked down or flamed and insulted, everyone gets their back up about one thing or another.... so don't throw stones
It may be a different kind of debt... but it is still debt none the less

 

[ToriLammy]

There you go, there is one word in your post that explains why some of us have a problem with bankruptcy -

Why should you judge someone in bankruptcy.. who is getting their lives back together for saving up and going to Disney.... I mean some may say you should take your vacation money and use it to pay more down on your car or house for that matter... but you still feel your fmaily is entitled to go...

IMHO no one is ENTITLED to anything. You earn what you have and where you go. The "entitlement mindset" is what is causing a lot of today's problems. I want a big house, can't afford but I'm entitled. I want an SUV, can't afford it but I'm entitled. I can't really afford a big vacation but we're entitled to one so what the heck.

I'm really curious and the op doesn't really have to answer... but if her husband's 2nd job paid the bills what does his first job pay for? In our household our main jobs pay the bills and our military retirement paychecks go in savings and for the fun stuff.

 

[bluesaturn]

I mean some may say you should take your vacation money and use it to pay more down on your car or house for that matter... but you still feel your fmaily is entitled to go...

Here's the problem, and the buzzword of the decade... if someone feels their family is entitled to a Disney vacation, even in the grips of bankruptcy, perhaps there are bigger issues.

 

[Goobergal99]

Here's the problem, and the buzzword of the decade... if someone feels their family is entitled to a Disney vacation, even in the grips of bankruptcy, perhaps there are bigger issues.

So true

 

[Goobergal99]

There you go, there is one word in your post that explains why some of us have a problem with bankruptcy -



IMHO no one is ENTITLED to anything. You earn what you have and where you go. The "entitlement mindset" is what is causing a lot of today's problems. I want a big house, can't afford but I'm entitled. I want an SUV, can't afford it but I'm entitled. I can't really afford a big vacation but we're entitled to one so what the heck.

I'm really curious and the op doesn't really have to answer... but if her husband's 2nd job paid the bills what does his first job pay for? In our household our main jobs pay the bills and our military retirement paychecks go in savings and for the fun stuff.

I can't argue with that.... However I merely wanted to point out that there are many different viewpoints on what a level of indebtness includes

 

[rparmfamily]

I still wish the OP "good luck" because they are going to need it. I'm sure filing BK is no walk in the park and if they are at that point I'm sure they are stressed out.

With that said, this is an internet board. Don't air your dirty laundry and then expect people to agree with you. Keep it to yourself if you want it private and don't want your feelings hurt!

 

[MyBelle]

I. Totally. Agree. All the "good lucks" and "I commend yous" are absolutely nauseating. Get a job. Pay your bills. Stop using your credit cards. And for the record, one is entitled to be "judgmental" when one will have to pay for another's greed and irresponsibility down the road — as all of us who pay our bills will have to eventually pay for those who do not.

I agree 100%.