I lurked, read and asked a few questions. I finally filed on 10/30 before the new median limits changed. What a great site. I want to thank everyone for their stories, and I will start my own here.
Like most people it seems, I overspent during the housing boom and once my HELOC was frozen, all of my credit lines were subsequently removed or frozen and I was in trouble. My wife is raising our 3 kids and entering a nursing program in the fall. I always thought I could make it until the extra cash flow was here. I went from having close to $300,000 in available credit and another $150k in stocks to virtually nothing. I ran up already bloated CC until I decided to file.
I plan on keeping my home and car. My other car is paid off.
I made a few thousand over the median for the last 6 months. I have received an annual bonus in the past which I hope doesn't cause a problem if I get it this spring. My expenses are high enough to pass the means. I basically just have enough monthly income to scrape by. I am hoping to wipe out $107k in unsecured debt. I was able to exempt my cars, $25k in home equity, stock options (hopefully the market rebounds), 529s, all of my furnishings and of course my retirement.
I feel so much better since filing and I'm looking forward to my 341 (Dec 3rd). Paying for everything in cash is a good way to live.
I will post as I progress and answer any specific questions anybody has.
Thanks!
Like most people it seems, I overspent during the housing boom and once my HELOC was frozen, all of my credit lines were subsequently removed or frozen and I was in trouble. My wife is raising our 3 kids and entering a nursing program in the fall. I always thought I could make it until the extra cash flow was here. I went from having close to $300,000 in available credit and another $150k in stocks to virtually nothing. I ran up already bloated CC until I decided to file.
I plan on keeping my home and car. My other car is paid off.
I made a few thousand over the median for the last 6 months. I have received an annual bonus in the past which I hope doesn't cause a problem if I get it this spring. My expenses are high enough to pass the means. I basically just have enough monthly income to scrape by. I am hoping to wipe out $107k in unsecured debt. I was able to exempt my cars, $25k in home equity, stock options (hopefully the market rebounds), 529s, all of my furnishings and of course my retirement.
I feel so much better since filing and I'm looking forward to my 341 (Dec 3rd). Paying for everything in cash is a good way to live.
I will post as I progress and answer any specific questions anybody has.
Thanks!
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