In 2006 I filed a Chapter 13. I have been in the automotive sales industry for 19 years and I am in my mid 30's now. The auto industry has been on the decline for many years now not just here in '09. I had a vacant rental home plus a new home that was too expensive. I bought the overpriced, oversized home in 2004 when I got married in hopes of living the dream of having a family. Unable to support two houses (1 vacant which I wanted to rent but it began to deteriorate), a high maintenance spouse, and my own spending issues, I decided I had to file BK to stay alive. A divorce shortly followed for more than financial reasons which I am sure I cannot discuss due to forum rules! I short sold the vacant house in early 2008. I got a new job and was able to save the overpriced oversized home. I then lost that job and went on a self employed venture in which business was great. But, I have to admit that I barely scraped by after paying for this big box I live in each month. Now, with the economy in it's dyer condition, auto sales is horrendous. I went to my BK attorney because I was having a hard time staying current on my home and he stated that since I lost my wife's income and my income dropped dramatically, I could fconvert to a Chapter 7!! Now I am struggling with the "where did I go wrongs"! Let my story be a lesson. I bought outside of necessity and bought due to wants. My house is way too big. I should have never bought a house before getting rid of the one I was in. Live within your means and have a simple life. We only complicate our lives by choices to keep up with the "jone's" and to acquire as much "stuff" as possible. I am depressed and worried now as I am divorced, broke, about to lose my home, have a failing business, wondering who will rent to me with a Chapter 13 converted to a Chapter 7 with a Surrendered house, etc..BUT,,,,BUT,,,I am starting to appreciate non material things much more such as fishing with my close buddies! Walking in the Park on a nice day! I still have my health! The greatest things in life are free! I am worried yet excited. I am excited to live for all the right reasons instead of all the wrong reasons. I am truly devestated but I think maybe this is what it takes for me to learn who I really am inside. I could find a way to save this giant box I live in, but what for? To struggle month in and month out to pay for a big box to sleep in? I am instead going to create my own stimulus plan..Hence my screen name! I plan to walk away from the house, live in a modest place (if anyone will even rent to me), and pay myself first (savings in other words). No credit. I will buy if I have the cash on hand and need it from now on! I will clip coupons. I will look for deals. I will not eat out as often (especially since I am a great cook!). I will not try to impress others by my "stuff".
I believe people are often too worried about their credit rating. I had a perfect credit rating for 12 years until business went bust and I got divorced. I am still the same person however and my close friends and family see past my current issues. If you are having a hard time keeping your head above water, just cut the weights off your ankles and swim free just like I am about to do!! It hurts, but we can all make it!
Sorry for being so long winded, but I am having a hard time with what is happening even though deep down I know that life will be more pleasant once I live a more meaningful life not centered around my possessions!
I believe people are often too worried about their credit rating. I had a perfect credit rating for 12 years until business went bust and I got divorced. I am still the same person however and my close friends and family see past my current issues. If you are having a hard time keeping your head above water, just cut the weights off your ankles and swim free just like I am about to do!! It hurts, but we can all make it!
Sorry for being so long winded, but I am having a hard time with what is happening even though deep down I know that life will be more pleasant once I live a more meaningful life not centered around my possessions!