Hello

[MidwestGuy]

Wow, I didn't even know these forums even exist, but I'm glad I stumbled up on it. Hello everyone!

26 year old male here, from IL. Just filed for BK (yesterday). First time doing it, don't know what to expect or anything. Kind of nervous I guess. I met with my attorney, went over everything with her, everything seems to make me qualified for CH 7.
About 60k of debt in my name. Did not want wife to file, as we can manage her few CCs. She's actually on Debt Consolidation thingy..
I'm the only income provider in family, wife is in medical school for another 2 years. Currently shes w/out job until she gets her certificate. It's been rough for the last year or so for us. Many medical bills, unnecessary car payments, etc. It has been costly lesson for us. I just hope everything goes ok with BK and it gets discharged. As for new life, well, as they say "don't bring old habits into new life".

So I'll go look around the forum a bit, I see there is a lot of reading I need to do. If anybody has any advice or anything, please feel free to share. Thank you for taking time to read this.

Wish you all luck on your journey..

[epiphany]

Welcome! You will find tons of good information here. So read, read, read...but don't forget to sleep as I did when I first found this board.

ep

[PaKettle]

Wow, I didn't even know these forums even exist, but I'm glad I stumbled up on it. Hello everyone!

26 year old male here, from IL. Just filed for BK (yesterday). First time doing it, don't know what to expect or anything. Kind of nervous I guess. I met with my attorney, went over everything with her, everything seems to make me qualified for CH 7.
About 60k of debt in my name. Did not want wife to file, as we can manage her few CCs. She's actually on Debt Consolidation thingy..
I'm the only income provider in family, wife is in medical school for another 2 years. Currently shes w/out job until she gets her certificate. It's been rough for the last year or so for us. Many medical bills, unnecessary car payments, etc. It has been costly lesson for us. I just hope everything goes ok with BK and it gets discharged. As for new life, well, as they say "don't bring old habits into new life".

So I'll go look around the forum a bit, I see there is a lot of reading I need to do. If anybody has any advice or anything, please feel free to share. Thank you for taking time to read this.

Wish you all luck on your journey..

Hi, and welcome.

If your wife is on a debt consolidation plan are you SURE she does not want to file with you jointly? I would think her credit must not be that good, and if she has even $20-30k in debt it would free up a lot of monthly income if she filed too. Also, I assume your attornrey would have advised you if it's a community property state you live in and your creditors could come after her? I don't know, it's just something you may want to double check on.

Good luck.

[FreshLikeADaisy]

Hi, Midwest Guy! Good luck with your bk!!!

[lrprn]

Glad you found us, MWG - welcome! Ask us any questions you want. Of course we can't give you legal advice, but we have a wealth of practical real-life bankruptcy experiences to share as needed.

[MidwestGuy]

Hi, and welcome.

If your wife is on a debt consolidation plan are you SURE she does not want to file with you jointly? I would think her credit must not be that good, and if she has even $20-30k in debt it would free up a lot of monthly income if she filed too. Also, I assume your attornrey would have advised you if it's a community property state you live in and your creditors could come after her? I don't know, it's just something you may want to double check on.

Good luck.

Uh no, she has about 5-6k in debt, about 3-4 cc. My attorney did not suggest that she files too, her credit is about 600, but I thought I would avoid her on BK and just help her build her CC a bit better then mine so that way in future when we might need a loan and if for some reason I am not getting good rates, that she would help out with her good c-history. She can't include her car in BK because her dad is co signer. My credit was problem and my debt, we should do more then fine just on my own salary after this is discharged.

[Dollar Bill]

You may still want to look into whether the state of IL is a community prop state as PAKETTLE stated. I am in a similiar situation as there is a chance my wife will need to file along with me. Ask your ATTY though and see what she suggests.

.......and let me know.

[MidwestGuy]

Attorney did not say that she needs to file. As I said, she only has about 3-4 CC's with max 5k on them. It's not a problem as we can handle those after we are done with our BK.

[MidwestGuy]

Another question..

I signed up on TransUnion web page to monitor my credit with all 3 agencies. It's about 15 bucks a month. Good thing to do or should I just cancel and just pull my report once every year ?

[MidwestGuy]

Oh, forgot to mention, I'm keeping my used car on which I owe about 3,500 and I pay about $140 a month for it. Also, I couldn't not file my Best Buy (balance of about $600) and my Harlem Furniture (4,500) as I would have to return those items to them (furniture, computer). But, just by getting rid of 1 car on which payment was $670 and few credits cards which totaled to 12k I will free up extra 1,500 and I plan on paying off my furniture/best buy and most of my car by the end of this year. It should help me build my credit after BK I would imagine.
Once wifey is done with her certificate in few weeks, hopefully she wont have a problem landing a job and second income should make paying off (hers/mine) everything a real breeze.

Not to mention onces she's done with her Nursing degree..

Just a update..

[lrprn]

Another question..

I signed up on TransUnion web page to monitor my credit with all 3 agencies. It's about 15 bucks a month. Good thing to do or should I just cancel and just pull my report once every year ?

Transunion only provides their own score and it's not even the actual score that's pulled by creditors.

The only scores that creditors pull are the real FICO scores and you can only get those from the Fair Issac Corporation for about $50/year from www.myfico.com .

[MidwestGuy]

Transunion only provides their own score and it's not even the actual score that's pulled by creditors.

The only scores that creditors pull are the real FICO scores and you can only get those from the Fair Issac Corporation for about $50/year from www.myfico.com .

Do they provide detailed information on your credit history (debts, inquires, etc) or just the score ?

[marcie26]

Hi Midwest Guy - I am new here so I don't have much to offer. Just wanted to say I am from Illinois too and have not filed yet. I am still trying to figure everything out - do you mind me asking if you had to go to court? I was unsure if it goes by state or whatever.

[Cali]

Is IL a community property state?

[gophermn]

Welcome!
I also filed without adding my wife. She has a credit card with a max limit of $500 so there was no reason. And of course with you filing I am sure you STILL had to list your wife's income & expenses.
Welcome aboard. Sit, join us and have a cup of coffee and ride this out.

Unless you are PaKettle, you were sitting for a looong time - but thats old news now :-)