Any regrets, BK remorse?

[newbegin]

Just like you we should have filed at least three years earlier than we did, but we kept thinking something would happen to make it all work out without filing for bk, we tried everything possible... So as tough as the last five years have been, it does'nt compare to the three years of torture before filing.

[runnersdelig]

I guess I didn't really answer the initial question. Life is much easier. My only regret is that we didn't do it sooner. We struggled for years and never made a dent, just continued to get behind, the cc's continued to raise the interest rates, until we could no longer make the payments. I would like to be able to retire after our bk is done and the rate we were going we would have worked until we died. I work for a company that actually still has a pension and I have worked there for many years, so I really wanted to be able to enjoy it
We have already had a major car expense, but with my emergency fund (it took almost all of it) we were able to cover it. This past week, someone broke a window in my car. An extra $250 expense, but again I had it when before I would not have.
I just keep putting money aside to cover the next emergency.

This is our situation, too. I should have done this sooner...I was just in denial and struggled since 2008. I should have just filed in 2008 when i first lost my job but I just kept thinking if we just worked more hours, we'd be debt free. There were weeks when we worked 60-70 hour weeks and it wasn't worth it anymore.

When we received the summons from citicard and they wouldn't work with us on a reasonable payment plan....we knew we had to file.

I don't regret it, although like the previous poster, no one really knows other than 3 of my girlfriends. Not family, because my parents would worry themselves to death and they have serious health problems where stress would send them straight to the hospital.

[Universal]

We would have had to do it sometime, without a doubt, as we couldn't continue as we were; the payments to those a-hole cc companies has gotten insane.
Our payment each month is 1,250.00, but we were paying out every penny we had, and didn't have before. And, I too want to retire one day without debt.
So, yes, our life is much better now.

[NowImDownInIt]

The best thing I have ever done for myself, despite the occasional difficulties. I am so glad that I was proactive about this. No regret, no remorse.

[JOEYBOY]

I played by the rules all my life always paid my bills and CC payment on time all my CC rates were low ( less the 9.99) my credit scores was 760 before BK but then out of nowhere all the CC companies started to send my letters saying that they were going to raise my interest rates to 24.99 and some to 29.99
i call to ask why , its not like it was a new account i had them for more then 15 yrs each and never late they said it was because of the stuff that was going on in the economy so little by little they rates went up so i had to cancel then to keep my rates but know my credit score took a hit each time i close and account it was down to 640 and i never missed a payment 3 months later it was 605 and i still never miss a payment so i did what was best for me
BK 13 been paying 540.00 a month and now im paying 0.00 interest rates
i just wish i had done it sooner , they CC companies force me to do this

[tanya0525]

I wish we would of waited a little longer before filing. My husband had gotten hurt and had to have surgery. For some reason we weren't thinking of being hit with medical bills. Also, he has been unemployed since September. If we had known he would been out of a job for this long of time .......

[espo1357]

I wish we would of waited a little longer before filing. My husband had gotten hurt and had to have surgery. For some reason we weren't thinking of being hit with medical bills. Also, he has been unemployed since September. If we had known he would been out of a job for this long of time .......

If you filed a 13, can't you file again?

[tanya0525]

If you filed a 13, can't you file again?

Don't know what the time frame is before you can file again for 13. We filed chapter 7.

[billf1980]

Don't know what the time frame is before you can file again for 13. We filed chapter 7.

ask the lawyer (the most used sentence here).

you always have options. Don't feel like you are ever trapped in life, that is a lie from the pit of hell.

Take care!

[chinup]

Thanks for the all of the replies. My largest fear is that we will be bound to the Court and Trustee and NEVER have any money left over for anything-kids presents, night out, etc. Don't they take every drop of additional income from you? Almost the same as being in jail-at least that is my perception.

Are you really allowed to save any money?
Also, if my work receives a garnishment from the Trustee for payments, I'm gone-fired. Work does not allow those.

[espo1357]

Thanks for the all of the replies. My largest fear is that we will be bound to the Court and Trustee and NEVER have any money left over for anything-kids presents, night out, etc. Don't they take every drop of additional income from you? Almost the same as being in jail-at least that is my perception.

Are you really allowed to save any money?
Also, if my work receives a garnishment from the Trustee for payments, I'm gone-fired. Work does not allow those.

You are not going to get fired if you are in a 13. They can't garnish if you are in a 13.

If the plan doesn't work out for you, then speak up and talk to the lawyer about it.

Maybe you need to get rid of the high mortgage payment, if that is an issue.

File a 7 if you can and don't look back.

Bottom line is that you have options. Get knowledge about those options and be smart moving forward.

God Bless.

[Exployer1234]

i have not looked back since filing. It is rough at the beginning living on a set budget, but you will get used to it.

You can not be fired because you filed bk or have a garnishment. Now some companies where you hold a security clearance you may have an issue, but everything else should be fine. The only people in the company that need to know if a wage garnishment occurs is your HR department and payroll.

[indebt00]

Thanks for the all of the replies. My largest fear is that we will be bound to the Court and Trustee and NEVER have any money left over for anything-kids presents, night out, etc. Don't they take every drop of additional income from you? Almost the same as being in jail-at least that is my perception.

Are you really allowed to save any money?
Also, if my work receives a garnishment from the Trustee for payments, I'm gone-fired. Work does not allow those.

Its not jail but for the first few months it will feel like it...at least for us it did. It was a BIG adjustment to go from credit to cash. like another poster said...we would just charge it...

It was the best financial decsion we have ever made. We will be debt free in less than 4 yrs. We would have been paying credit cards until we left this earth and have never been free. Its truly liberating to know that we will reach that goal.

We were also able to get rid of 2 HUGE mistakes...a 2nd and 3rd mortage. now our house is worth about the same as we owe...not 90k less

and YES you can save and YES you will be able to live...but honestly it has meant living on a real budget !!! budget budget budget !!

We are very happy and only regret is that we didn't do it sooner