can anyone tell me about life post bk

[veggirl]

just wondering about the positives / negatives once through with this process....thanks

[Bandit]

Yes, life after BK has pros and cons. Some have it easy and others face nightmares post BK. I think as a rule everyone does come out better while at the same time, I can't say it has been some bed of roses either. I feel free and good about it but I also feel judged and stripped of some integrity, kind of like getting a report card with all F's, not exactly something to brag about. It is all water under the bridge now.

[optimistic1]

Post 2004 BK.

Instantly started receiving credit offers all over again so that I could dig another ditch for myself.

Bought a brand new car for 0 down and a interest rate of about 15%, refinanced it to about 10% 6 months later.

Rented a nice new apartment, just had to show discharge paperwork.

2-3 years later, obtained pre-approved financing to purchase a house with a FHA loan and government grant, basically spent 0 down after receiving my earnest deposit back after escrow closing.

Life treated me good for years afterwards.

Creditors will be very BK friendly in the near future with everything going on in the economy, heck, if the US Government could claim bankruptcy they would do it too.


Anyone who bad mouths filing Bankruptcy just doesn't have a clue how it works.

[GeG_Lost]

It has only been almost four weeks since we discharged. I can say it has been really stressful at times but it was definitely worth it. We have had a lot of obstacles, but to be honest every time we encounter something I know we are learning from it and a little bit less likely to let ourselves get into a mess again. I have learned to keep more accurate and detailed records of everything. I have learned that you can spend cautiously yet still have things you need. Even better, I learned that it isn't the end of our credit life. We were able to rent a new house. Today I made the calls I dreaded to set up utlities at entirely new companies knowing they were going to run my credit, and I was so excited when they didn't charge any deposits. It has been hard at times to not have credit cards for emergencies, but I can honestly say that every week that goes by I am happier about that.

[Bandit]

Anyone who bad mouths filing Bankruptcy just doesn't have a clue how it works.

Just because someone has a bad post BK or bad mouths it, does not mean they don't have a clue how it works.

[joh]

Car repairs are what worries me. My brake went bad cost 350$. I was blessed that I had the cash if not out of luck. I now know I need cash on hand for these things. No more c.c to bail me out/bury me deeper in the hole.

[tinfoilhat]

Warning: this is so off topic you might no want to read it.

I don't get the people who are so upset about not having credit cards after bk, or not having a new car, or having to pay for something with cash.

I'm never buying a new car again. I don't care about credit cards. I was doing great running ten cc's up and paying them off, then running them up, etc, etc, etc.
Then my job said theres not enough work, bye.

And thats why I'm here, why on earth would I go get myself in the same situation again.

About car repairs. I shop junkyards on a regular basis, you'd be surprised what you find there. I've found new parts in the box, cars that look like people were fixing them up and quit, new parts all over it for dirt cheap.

The reason I brought that up is because of the brake job posted above. When I was 16 my brakes wore out, had no money for new stuff, went to the same junkyard I go to today and just happened to find the same car with new rotors, calipers, and pads. I picked them up for 1/4 the cost of new. I've got boxes of repair parts that I've accumulated over the years from parting out wrecks, etc. And when money is low, the stuff sells pretty easy.

Last year I checked out a junkyard in Texas and bought a rare classic car engine, a 1969 396 with a muncie M21, all numbers matching parts. Paid $150 for it, sold individual parts on ebay and made $3800 off it.

Can we talk cars instead

[miozelous]

Sure, I have an 87 camaro Z28 with a vet engine, all matching numbers, one small dent, cracked tail light, and only has 80,000 miles on it. Any bidders?

[optimistic1]

Just because someone has a bad post BK or bad mouths it, does not mean they don't have a clue how it works.

That comment I made did not have anything to do with people that had a bad post bk experience. That comment was directed towards people that have never even filed a bk, or just talk down about the idea of it. Isn't there something you can add to the conversation?, or to help the original poster, you are taking my comment out of context, which it happens, so I understand, but that is not what I meant to convey in the forum, in fact I advocate that people do file a BK.

[music12]

i am still going through the process, but the important thing for me is that i know why i filed and it's absolutely clear that it was the right decision. i know that anybody who would know what led to it would say that they would do the same thing. in fact, a good friend suggested it to me before i thought about it. my situation before bk was fundamentally unfair. bk was the only solution. that's all i need to know for my emotional well being.

[OhioFiler]

Just because someone has a bad post BK or bad mouths it, does not mean they don't have a clue how it works.

Broken record alert.

[Bandit]

That comment I made did not have anything to do with people that had a bad post bk experience. That comment was directed towards people that have never even filed a bk, or just talk down about the idea of it. Iisn't there something you can add to the conversation?, or to help the original poster, you are taking my comment out of context, which it happens, so I understand, but that is not what I meant to convey in the forum, in fact I advocate that people do file a BK.

So you go around making snarky comments?

Your statements about people not having a clue about BK just because they bad mouth it and have never filed, are still not accurate.

[Bandit]

Broken record alert.

What is your personal experience about life post BK? That is the question, instead of you trying to insult people.

[OhioFiler]

What is your personal experience about life post BK? That is the question, instead of you trying to insult people.

I haven't experienced the death penalty, being raped or run over by a car by I know those are unpleasant events.

I haven't gone on a dinner date with Michelle Pfieffer, visited our 50th state or won Time magazine's "Person of the Year" award yet I know those are each positive events.

Why is it you insist "personal experience" is the litmus test for what life post-bk is about?

I read many positive stories of life post-bk on here(few horror stories) and I see very few horror stories on here. I read information avaialbe on the internet and I understand why our Founding Fathers wanted the availability of bk in our Constitution.

I'm not trying to insult you. I think your constant harping on how bad life post-bk becomes and how there is no real "fresh start" are a terrible disservice to the thousands of unregistered anonymous guests who visit here looking for answers. Just because your life wasn't a party post-bk doesn't mean no one else's will be as well.

[Bandit]

I haven't experienced the death penalty, being raped or run over by a car by I know those are unpleasant events.

I haven't gone on a dinner date with Michelle Pfieffer, visited our 50th state or won Time magazine's "Person of the Year" award yet I know those are each positive events.

Why is it you insist "personal experience" is the litmus test for what life post-bk is about?

I read many positive stories of life post-bk on here(few horror stories) and I see very few horror stories on here. I read information avaialbe on the internet and I understand why our Founding Fathers wanted the availability of bk in our Constitution.

I'm not trying to insult you. I think your constant harping on how bad life post-bk becomes and how there is no real "fresh start" are a terrible disservice to the thousands of unregistered anonymous guests who visit here looking for answers. Just because your life wasn't a party post-bk doesn't mean no one else's will be as well.

Ah, but the horror stories do in fact exist. My life is great right now but You just cant get over the fresh start crap when someone disagrees with you, so you keep trying to shove it down my throat!