It would be nice to see your personal list of creditors and amounts for everyone

[hnhlvr]

My debt which I've defaulted on:

Citicard #1 = $9,000
Citicard #2 = $2,500
Home Depot = $2,000
Bank of America = $8500
WAMU = $10,000
Target = $9,400
total = $41,000

*** CAR LOAN which I'm paying on $6,000 (so I don't include in total defaulted amount)

These are the amounts I owed BEFORE I defaulted. Now, each month, each card goes up $2-500 w/interest & fees.

Other debt in Dh's name $40,000
INDY MAC $412,000
Wells Fargo HELOC $128,000

[Lajazz947]

Our attorney says we file next Monday, possibly sooner:

Keeping home: $772,000 owed, no equity
Keeping car: $18,000 owed
CC debt: $150,000 owed
Medical bills: $5,000 owed
Revolving lines: $70,000 owed

We are way over ther median in California but my attorney feels confident that we can get to in his words " the promised land of chapter 7".

If for no other resaon I like him for that attitude.

The filing could not come at a better time with both my in laws sick and my wife worrying about them. We need to get this overwith to restore some sanity to the house and salvage the holidays.

Most of the debt has been charfed off but Chase calls a good 15 times a day for the remaining accounts that are ready to be charged off.

[albacore44]

Our attorney says we file next Monday, possibly sooner:

Keeping home: $772,000 owed, no equity
Keeping car: $18,000 owed
CC debt: $150,000 owed
Medical bills: $5,000 owed
Revolving lines: $70,000 owed

We are way over ther median in California but my attorney feels confident that we can get to in his words " the promised land of chapter 7".

If for no other resaon I like him for that attitude.

The filing could not come at a better time with both my in laws sick and my wife worrying about them. We need to get this overwith to restore some sanity to the house and salvage the holidays.

Most of the debt has been charfed off but Chase calls a good 15 times a day for the remaining accounts that are ready to be charged off.

When did you stop paying you Cc's (how many months) and did any file garnishments etc. Working on a timeline for my eventual filing.

Thanks

[Lajazz947]

When did you stop paying you Cc's (how many months) and did any file garnishments etc. Working on a timeline for my eventual filing.

Thanks

I stopped paying my CC's and revolving lines in March '08 (approx).

It has taken about 6 months to charge them off. I have a few letters from collection agencies and a couple of law firms but nothing more.

I have a host of issues to work with. I will post as soon as I get going.

[Cali]

I am not going to list each one, but the total was 162k, CC's and SUV.

1. How much money was the average household income per year at the time you incurred the debt. mid 6 figs

2. How much was the household income at the time of discharge. lower 6 figs

3. What state you live in. California

Debtmonster - no one made you apply for the credit, so I don't see how you can hold the banks responsible for what you did.
As for the high CLs, most people have the income to support them. My highest cards were 50k(had a few of them) and my lowest was 10k.

[Cali]

dup

[Cali]

dup

[debtmonster]

I am not going to list each one, but the total was 162k, CC's and SUV.

1. How much money was the average household income per year at the time you incurred the debt. mid 6 figs

2. How much was the household income at the time of discharge. lower 6 figs

3. What state you live in. California

Debtmonster - no one made you apply for the credit, so I don't see how you can hold the banks responsible for what you did.
As for the high CLs, most people have the income to support them. My highest cards were 50k(had a few of them) and my lowest was 10k.

The median income in California is about $60k. How were you able to qualify the means test with $40k+ above the median?

[Cali]

I have friends that make that kind of money(300k) and it isn't porn.

Must be porn then..

[Cali]

I don't know where you get your info, but you are wrong about the median income.

The median income in California is about $60k. How were you able to qualify the means test with $40k+ above the median?

[debtmonster]

Got it from here:

http://www.census.gov/hhes/www/income/medincsizeandstate.html

[debtmonster]

How does one make $300k? How can the rest of us do what you guys are doing?

[Cali]

Before you start quoting something, you might want to check the date on the info. And yes, we were over the median when we filed, and we have been discharged/closed.

Here is an accurate chart: http://www.usdoj.gov/ust/eo/bapcpa/2...come_table.htm

Got it from here:
http://www.census.gov/hhes/www/incom...eandstate.html

[Lajazz947]

The banks didn't make you take the credit.

As usual this creates a tremendous amount of controversy.

My 22 year old has some credit outstanding and it crept up on him. He is managing it wisely and I think that he has learned his lesson early on.

For him there is an excuse because of his age but I think that the banks should be restricted (at the risk of all the civil rights lawyers screaming discrimination) to issuing credit to people under a certain age.

For the adults there is absolutely no excuse for this mess unless it is a job loss or a medical emergency. Even then my wife is insisting on a stash of cash in the future to meet emergencies.

I have no one to blame but myself for not preparing and getting into this. Thank God I get a second chance.

This will NEVER happen to me again. I will take the bus to work before I buy another car on credit and I refuse to even entertain anything more than an emergency credit card.

I am not upset at the bailout plan. Anyone who does not see that Wall street is the world's engine is naive at best and believe me, study history and you will see that the alternative is much more disasterous for us than the bailout plan is.

This is a different economy and if you look at the past bailout plans (of any size) be it the Mexican intervention in 1994 to stop a Latin American meltdown, the RTC in 1989 or any of the others where we have helped, Russia, Thailand, the hedge funds, it all makes sense in the end to avert financial catastrophe.

Sorry about the soapbox, I just feel that way.

[albacore44]

my debt

1st mortgage = $417K
Heloc = $242K
Car 1 = $27K
Car 2 = 12K
Citi (8 cards)
B of A (4 cards)
Wamu (4 cards)
Wells fargo (2 cards)
Capitol 1 (2 cards)
Discover (1 card)
Chase (1 card)
J c penney
macys
Mervyns
kohls

total cc unsecured $110K