Taking the Plunge- CH. 7

[cgmac12]

Hello all- after lurking on here for several months I have decided to come out of lurkdom and post. My husband and I are filing Ch. 7. Our atty. said she should be able to get us filed by the end of the week. (she is waiting on us to finish the pre-counseling). I have agonized over this decision for months, but now that we have taken the leap, I feel so much better. My only worry is the 341 meeting. I have some local loan companies that I am worried about showing up. My atty. is pretty much the only atty. here in my small town that deals with Bancruptcy and she said that they sometimes have trouble with one of the local lenders.

I have really learned a lot since I started reading this site! Hope you guys dont mind if I share my journey with you and ask questions along the way.

Crystal

[CATCHMEIFYOUCAN]

Welcome to the forum.

Best of Luck to you ! Catchmeifyoucan

This is the greatest Forum on earth, so ask away !

[guzzie]

good luck......

[ameliabedilia]

What exactly are you worried about with the local creditors? As long as you are within the time frame from taking out loans, or using them for necessities, then don't stress them being there. I prefer to think of my creditors as faceless, selfish corporations, so I know it's stressful when you actually see a face
But, remember that this is a business/financial decision and the 341 is a business meeting, so don't worry about them. Good luck with everything. I felt imense relief when I made the decision- I was actually mad at myself for not doing it sooner! I had so many misconceptions about bk that were totally off base!

[oldbaddebts]

If you can come up with $50 for the prefile counseling, you can do it online anytime at www.cccsbankruptcy.org it only takes an hour or so, and they email you something to give your attorney showing that you did the class immediately, and you get your certificate the next day. The filing can be done with the initial letter. Also, they are the only online place that I found (there may be others) that takes debit/credit cards and checks online.

Mods, hope you don't mind the link/ad but I thought it might be useful, and I clearly have no other connection to them than using the service. Let me know if you want me to stop posting it till I get 100 posts.

[cgmac12]

Thanks for the link. In my atty. fees they include the counseling sessions- I believe it is thru Greenpath. My husband and I work different shifts so we have had a hard time finding a time that we are together that they are open! We will get it done this week though.

Here is my concern with the local lenders. This lender in particular is kind of like a Citifinancial. We secured the loan almost 3 years ago with things like our lawn mower, computer, tv, etc. We have renewed the loan 2 times since the original loan date. They are very agressive and my lawyer has said that they do sometimes fight the bancruptcy. The funny thing is that in almost 3 years, I have probably paid them the amount that I actually borrowed, and yet my balance is STILL 6500. It just doesnt add up.

I know that my credit card companies and older debts will not show up at the 341- but I guess I am scared that this one local place will. I don't want to be humiliated in public by them. Not to mention my husband is really struggling with the whole idea and is really feeling like we are failures for having to file.

I am so ready to have this process behind us and have a fresh start in life!

Can someone tell me exactly what this is going to do to my credit scores? I doubt they could get much worse- I think right now my TU score is like a 486.

Crystal

[aachudneymiles]

Thanks for the link. In my atty. fees they include the counseling sessions- I believe it is thru Greenpath. My husband and I work different shifts so we have had a hard time finding a time that we are together that they are open! We will get it done this week though.

Here is my concern with the local lenders. This lender in particular is kind of like a Citifinancial. We secured the loan almost 3 years ago with things like our lawn mower, computer, tv, etc. We have renewed the loan 2 times since the original loan date. They are very agressive and my lawyer has said that they do sometimes fight the bancruptcy. The funny thing is that in almost 3 years, I have probably paid them the amount that I actually borrowed, and yet my balance is STILL 6500. It just doesnt add up.
I know that my credit card companies and older debts will not show up at the 341- but I guess I am scared that this one local place will. I don't want to be humiliated in public by them. Not to mention my husband is really struggling with the whole idea and is really feeling like we are failures for having to file.

I am so ready to have this process behind us and have a fresh start in life!

Can someone tell me exactly what this is going to do to my credit scores? I doubt they could get much worse- I think right now my TU score is like a 486.

Crystal

didnt know they would secure a loan with household goods wow that sound like they want thier money by all means.....its secured by thoses items- which means they have right to take your stuff if you fail to pay. What did you lawyer say beside them being trouble? The fact that they are local makes it so much easier for them to do so.. not trying to scare you just being real with you maybe the lawyer knows a trick around this so you can keep your stuff. One more thing hubby has loans a few and about 2/3 of them are aggressive this compaany would be especially aggressive because they have the I owe you or give me you stuff contract which makes them have the upper hand so it looks.. I would let it get to me although its hard not to dont stress Good luck and God Bless

Also it is SECURED which mean you will have to do a statement of intention for thoses items saying if your1.) keep and continue paying or 2.) giving up or what but if you give up ( dont pay) they can come get it and depending on if its worth it they mite and with you been in same city or near that would be easy.. but if they dont come you keep your stuff.. asking your lawyer about their track record if they have actual come to get peoples things or if they like to scare people with the idea of taking their house hold items.. I personally have about 7-8 thing I am giving up ( secured item) surrendering them back to creditor if they want them .. but I live about 2000 away from most these creditors and if they want it they can have it, I will get it again but It is my only job to 1) make the items avail. for them but its not my job to make sending arrangement for them or paid for return .. lets say this "if they want the stuff back in the first place" -they have to come get it and I would not be responsible for them coming to getting their items .. if they dont come its mines to keep...