Hi,
I Had written a pretty long story, outlining why I am here, but I figured nobody was really interested in it.
Suffice it to say, through a long path of poor decisions, illness, and other mis-steps, here I am!
It has been tough for me, as I am the ultimate believer in taking responsibility, but sometimes, you just have to realize that you just can't do it all.
I sat down with my mortgage originator, considering a re-finance of my home to bring some payments into line, and he suggested consulting with a lawyer. I had always hesitated, because I believed that I would lose my house (I have about $80,000 in equity conservatively). I found out, with some research, that just about everything I owned was exempt in my state.
The real wake-up call is when I listed all of my debt on a speadsheet for my lawyer, and it totaled over $160,000 unsecured. Much of it was business debt, but it still all stemmed from overspending.
I am not placing blame on anyone but myself. That is an important disclaimer for what I am going to say now. But, last year, I received a diagnosis of major clinical depression. I was prescribed antidepressants, and my doctor told me to see how that worked, as I would probably learn the coping skills that would help me deal with this condition.
I have learned so much. In the past, spending was a nice way of dealing with how I was feeling. It makes you feel pretty good for a while. Not any more.
I have also learned to be content. That is one of the most important skills to learn! It is amazing how watching possessions disappear by repossession will teach you that!
I am committed to making the most of this opportunity. if the laws of the United States allow me this chance to hit the reset button, for me to do any less than making the most of it would be wrong.
I filed chapter 7 on August 20. My 341 meeting is September 22.
I have already begun aggressively managing finances using a spreadsheet that I have built myself. I manage and spend every dollar on that sheet before I spend it for real. I look forward to sharing more of how I do that as we go.
I was also able to sell a couple of non-exempt assets (a riding lawn mower, and a commercial vehicle that I had) as part of my pre-bankruptcy planning. With the proceeds, plus some extra money, I bought a used vehicle. It felt great to pay for it in cash! I will never have a car payment again! I bought almost exactly the vehicle that I owned before, without the leather interior, and about 3 years older. Only, nobody will be coming to take this one!
It bothers me to see my name on the court documents with the word "bankruptcy," and all of the postcards that you get from everyone wanting you to take their education classes (can't they put them in an envelope?) After the last year, I don't have much pride left anyways, but still...
At any rate, thanks for listening, and I look forward to talking with you all more as I go. This is just part of a journey, and bankruptcy is not an end.
I Had written a pretty long story, outlining why I am here, but I figured nobody was really interested in it.
Suffice it to say, through a long path of poor decisions, illness, and other mis-steps, here I am!
It has been tough for me, as I am the ultimate believer in taking responsibility, but sometimes, you just have to realize that you just can't do it all.
I sat down with my mortgage originator, considering a re-finance of my home to bring some payments into line, and he suggested consulting with a lawyer. I had always hesitated, because I believed that I would lose my house (I have about $80,000 in equity conservatively). I found out, with some research, that just about everything I owned was exempt in my state.
The real wake-up call is when I listed all of my debt on a speadsheet for my lawyer, and it totaled over $160,000 unsecured. Much of it was business debt, but it still all stemmed from overspending.
I am not placing blame on anyone but myself. That is an important disclaimer for what I am going to say now. But, last year, I received a diagnosis of major clinical depression. I was prescribed antidepressants, and my doctor told me to see how that worked, as I would probably learn the coping skills that would help me deal with this condition.
I have learned so much. In the past, spending was a nice way of dealing with how I was feeling. It makes you feel pretty good for a while. Not any more.
I have also learned to be content. That is one of the most important skills to learn! It is amazing how watching possessions disappear by repossession will teach you that!
I am committed to making the most of this opportunity. if the laws of the United States allow me this chance to hit the reset button, for me to do any less than making the most of it would be wrong.
I filed chapter 7 on August 20. My 341 meeting is September 22.
I have already begun aggressively managing finances using a spreadsheet that I have built myself. I manage and spend every dollar on that sheet before I spend it for real. I look forward to sharing more of how I do that as we go.
I was also able to sell a couple of non-exempt assets (a riding lawn mower, and a commercial vehicle that I had) as part of my pre-bankruptcy planning. With the proceeds, plus some extra money, I bought a used vehicle. It felt great to pay for it in cash! I will never have a car payment again! I bought almost exactly the vehicle that I owned before, without the leather interior, and about 3 years older. Only, nobody will be coming to take this one!
It bothers me to see my name on the court documents with the word "bankruptcy," and all of the postcards that you get from everyone wanting you to take their education classes (can't they put them in an envelope?) After the last year, I don't have much pride left anyways, but still...
At any rate, thanks for listening, and I look forward to talking with you all more as I go. This is just part of a journey, and bankruptcy is not an end.
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