Many of us are brought back to "reality" when we have to file bankruptcy...... the reality of what we can "really afford" in our lives......
We dream of the the big nice home, new cars, etc...... but for many, based on todays society and financial status - it's really not feasible for the average American family...... especially if you have children.
Things might be okay for a while then BOOM - something happens that rocks the boat and sometimes it then sinks.
During the bankruptcy process many of us here on this forum have had to do the following:
Soul searching on what caused us to file bankruptcy?
Learn to live within our income and means.
Learn to budget and do without unnecessary items. Its "do I need"?
Teach our children that money does not grow on trees............
Bankruptcy takes it toll on all families..... it affects the marriages, the children, etc.......everyone is in it together...........and should understand this if old enough.
Many after bankruptcy their lifestyle is entirely different. They've learned a valuable lesson in life and start using it to their benefit to make their lives better in the future.
Sadly some resort back to their old ways and get buried under again with no way out.....
No one wants their family to "do without" - especially their children.... BUT OFTEN CHOICES MUST BE MADE for the good of the entire family.
If a Trustee see's "dance lessons $100.00" listed, he see's $100.00 for his creditors...... doesn't matter what the children want. Trustee would consider dance lessons a luxury....just the same if Dad has a valuable collection of some kind - say guns - the Trustee would take it also to pay the creditor's unless its exempt (and seldom is).
Nobody says filing bankruptcy is going to be easy. Its one of the hardest things I have ever done or been thru. (mine was a complicated Chapter 7).
But the final outcome is WELL WORTH the hardship, nerves,tears, doing without, etc that you go thru during the process.
The choice is yours whether you use an attorney or not, but many things come up that your not going to be able to handle without an attorney sometimes. Then you have serious problems.... cause if you don't KNOW what your doing, then your case is dismissed, and your right back in the same old financial condition with no way out this time.....
Ask questions, listen to the ole timers, heed some of their suggestions, they are in your best interest. They all know what your going thru....
My thoughts,
Minny
We dream of the the big nice home, new cars, etc...... but for many, based on todays society and financial status - it's really not feasible for the average American family...... especially if you have children.
Things might be okay for a while then BOOM - something happens that rocks the boat and sometimes it then sinks.
During the bankruptcy process many of us here on this forum have had to do the following:
Soul searching on what caused us to file bankruptcy?
Learn to live within our income and means.
Learn to budget and do without unnecessary items. Its "do I need"?
Teach our children that money does not grow on trees............
Bankruptcy takes it toll on all families..... it affects the marriages, the children, etc.......everyone is in it together...........and should understand this if old enough.
Many after bankruptcy their lifestyle is entirely different. They've learned a valuable lesson in life and start using it to their benefit to make their lives better in the future.
Sadly some resort back to their old ways and get buried under again with no way out.....
No one wants their family to "do without" - especially their children.... BUT OFTEN CHOICES MUST BE MADE for the good of the entire family.
If a Trustee see's "dance lessons $100.00" listed, he see's $100.00 for his creditors...... doesn't matter what the children want. Trustee would consider dance lessons a luxury....just the same if Dad has a valuable collection of some kind - say guns - the Trustee would take it also to pay the creditor's unless its exempt (and seldom is).
Nobody says filing bankruptcy is going to be easy. Its one of the hardest things I have ever done or been thru. (mine was a complicated Chapter 7).
But the final outcome is WELL WORTH the hardship, nerves,tears, doing without, etc that you go thru during the process.
The choice is yours whether you use an attorney or not, but many things come up that your not going to be able to handle without an attorney sometimes. Then you have serious problems.... cause if you don't KNOW what your doing, then your case is dismissed, and your right back in the same old financial condition with no way out this time.....
Ask questions, listen to the ole timers, heed some of their suggestions, they are in your best interest. They all know what your going thru....
My thoughts,
Minny
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