Chpt 7 Again

[jam]

DUE TO BAD FINANCES AND CC USES HOUSE LOANS IM DOWN AND IN TO DEEP AGAIN FROM JUST TRYING TO MAKE IT DAY TO DAY FILED IN SEPT 02 INCOME 36,000 A YEAR FOR ME AND SPOUSE 140,000 OWED ON HOUSE THATS WORTH 75,000 ON A GOOD DAY 45,000 IN CC AND MOTORCYCLE LOANS WHAT A MESS CANT FILE TILL 12 MONTHES FROM NOW ANY ONE FILLED A SECOND TIME AND HOW HARD IS IT TO DO

[AngelinaCatHub]

Do not misunderstand me. I am not judging: You had a "new start", sometimes things don't go as you would wish. If you can hold out, there are many here who went twice. Three times and I would give up on that one. However, we all make mistakes.

You are in the right place for help, here. You probably know more than most here as you already went through this. It is your habitual problem you must consider. You can do nothing at this time until it is available to you except NOW is the time to start practicing for a lower life style. Get into this habit now and by the time you can file, you will succeed. I wish you well and please take this as intended. That is just a good wish for your success and we will be here for you. 'Hub

[jam]

Your right i did this should not have happened again let this be a warning to others i had car loans and credit cards 3 mo after disharge no fees and lower interest than before dont do it again all you need is cash and a debit card and atick with a budget .

[lrprn]

To file Ch 7 again and have your eligible debts be discharged, eight years have to pass from the last date you filed your Ch 7 back in September 2002. Unfortunately that means you can't file Ch 7 again until sometime in September 2010

However, depending on how your income and secured debts come out, filing Chapter 13 might be a possibility. You'll need to set up several free initial consultations with experienced lawyers who frequently file Ch 13 cases to know if that might be an option for you to get some relief now.

If you can't file a 13, then you really don't have much choice but to do whatever you can to stay afloat for another year until you can file a 7 again. Continue to pay your secured loans on assets you want to keep. If you are paying on student loans, find out if they can be placed in forebearance for the next year. Otherwise ask the lawyers during your free consultations about either stopping payment on your cc's now or sending in full payments periodically to keep them from taking you to court to get wage garnishments until you can file your second 7.

It's really worth discussing your options with several bk lawyers in your area and find out what's really possible for you to do now to get some relief and get a plan put together for how to tackle your current debt. Hang in there.

[jam]

All cards are paid up to date never late so they started uping interest and min. Payments have 2cap ones wife has 2 15,000 owed 2chase 5,000 1merrick 3500 2 hsb 4000 how long if i stop paying can i go 12 monthes till filling need a 7 13 is not an option

[junker]

i have filed two times for bk7 its really no big deal. they wont ask you anything about your first one...filing bk is a right and business decision on your part. dont feel guilty about anything...the cc,s dont feel guilty about charging high interest...i have never heard of one crying because he had to charge you so much.... i would file a 3rd bk if it was necessary...but i dont have the need to YET..how many companies have filed bk more than once..

[shabam]

Jam, how did you get in this situation happen again? Did you fall back into putting things on credit?

My lawyer was saying the other day that he has a few clients who are filing for their third time.

[jam]

Yes i got cc cards new cars boorowed again 3 times on house thats why every one should be very careful with credit after you are free of it hope i can next time

[shabam]

Yes i got cc cards new cars boorowed again 3 times on house thats why every one should be very careful with credit after you are free of it hope i can next time

Thanks for the heads up. While we cannot change the past, hopefully neither you or I will not be in this situation again.

[jam]

hopefully now at 55 yrs young i will be more dilegent with credit i read a lot on this furum about how fast they can gett cc cards and loans again all i can say is in a chapter 7 you are free and out of debt the vultures know you cant file again for 8 yrs and they need you worse than you need them they will be back and if you are not very careful you will be in again right now even the big shots are over thier heads in debt that makes you a very good risk to crediters now so be aware you can get all the credit again same cards i went bk on in 02 gave me new ones in less than 12 monthes after i was dischard all you need is a paycheck every week and you will be back in good with them

[aces67]

The most important thing about filing twice is learning from it.

My parents are needing to file a second time but they can't yet. They've stopped paying all CC's and so far every thing is okay. They get lots of calls but that's it.

[shabam]

hopefully now at 55 yrs young i will be more dilegent with credit i read a lot on this furum about how fast they can gett cc cards and loans again all i can say is in a chapter 7 you are free and out of debt the vultures know you cant file again for 8 yrs and they need you worse than you need them they will be back and if you are not very careful you will be in again right now even the big shots are over thier heads in debt that makes you a very good risk to crediters now so be aware you can get all the credit again same cards i went bk on in 02 gave me new ones in less than 12 monthes after i was dischard all you need is a paycheck every week and you will be back in good with them

You have a good point as they know you cannot file for ch 7 again. As a result, anyone with a solid paycheck provides them a source of low risk revenue again. I find it disturbing to see people excited about getting credit again, particularly if someone was burned by credit and it was the major reason they filed for ch 7 in the first place.

Statistically speaking, most people who file once will file again. I do not remember where I read it but I certainly believe it. Which is why I believe the pre-discharge course should be mandatory, almost like a license, for anyone obtaining their first credit card.

[needachance]

I don't have much advice other than to sell everything you can, get rid of things that they can take from you and use the money to make it through the next few months.

Can you sell the house and rent until you get your finances cleaned up? If we had a house and cars to sell there is no way we would declare BK, we would sell everything and try to clean the mess up ourselves. We just don't have anything to sell.

Also, maybe read the book by Dave Ramsey, your total money makeover to learn how to live within your means. This book has helped us make it 7 years without using another credit card even when the CC bills took ALL our disposable income.

[AngelinaCatHub]

Yes i got cc cards new cars boorowed again 3 times on house thats why every one should be very careful with credit after you are free of it hope i can next time

Credit is a slippery slope that only prolongs the agony and puts you under servitude to others. As a patriotic American, I now feel it my duty to be free. More than ever these days.

I shall not have anyone "Tread on Me" again.

It is unfortunate you cannot get relief sooner. Perhaps (and don't get me wrong) this is a bit of Karma chastisement, for allowing a mistake to repeat itself. The pain will make your second "New Start" much more valuable and you have friends and support here. Look how fast this year of 2009 is going by. September of 2010 is just around the corner (it will seem), and you can prepare right now by practicing cash only on everything you can do. Cease using all CC's right now, and use resources like Good will for great clothing, and Angelfoodministries for inexpensive and wholesome food.

It matters not what age you make mistakes. Old dogs like me (65) was worth ten mil ten years ago. It took nine years of law suits in a Pithing contest with an adversary. Was it worth it? Don't know. However at this time, we are happy, and solvent and living a very frugal life. The first noun of this sentence is "HAPPY". That is all that counts. 'Hub

[DeadManCrawling]

Agree with others here. You have 12 months to plan ahead, whether you want it or not. It could turn out to be a good thing.

Since you have been through this once, you probably have a good idea of what you can keep and what you cannot. Now would be the time to work on maximizing your exemptions.

Also, you may be able to go 12 months without payment and without lawsuits. It is a gamble, for sure, but not unusual either. I have not paid unsecured for nearly three years and have had no suits. Wife had one on her smallest card, but the judgment is not collectible for now anyway.

Good luck in all this!