Any words of wisdom would help

[jlybean]

Hi I am new to posting on the forum (having been reading it for about 4 months)

I would like to send a big THANK YOU to all of you who have shared your wisdom and experiences. It has made my stress level go down a little knowing that we are not alone. I am still scared to death and need a little encouragement if any of you can spare it

Here's my story. Have a wonderful husband and 4 great kids. Have been a stay at home mom for about 5 years after we figured out that I was losing money by working. Have been living on my DH paycheck all that time so using credit cards was sometimes a necessary evil. Got a consolidation loan and paid off the credit cards about 3 years ago but of course charged them all up again so now we have made the decision to file BK. I know my husband is disappointed in me for getting us in this situation (I do all the financial stuff) and I am just as ashamed of myself. I was not raised to walk away from my obligations but there is just no way we can ever pay this off. I am embarrassed to say that we are about 120K in debt between our credit cards and the LOC. I went to the lawyer fully intending for CH13 I did expect to pay some back but he said CH7 will work so I am going to do what he says. We are current on our house and plan to stay. We have no other valuable assets other than our 10 year old minivan(which is probably only valuable to us) so they can take all my old kid damaged furniture etc if they want it!

I know this story is long and I appreciate you taking the time to read it. I am trying to look for the light at the end of the tunnel and am hoping it is not an oncoming train

BTW I am in MN so if any of you have any experiences you could share good and bad regarding the 341 or any other info I would appreciate it.

Good luck to everyone and thanks again!

[AngelinaCatHub]

You asked for words of Wisdom: "Any journey starts with the first step".

That being said, do not beat yourself up so badly. You aren't the first and won't be the last in this economy. A new start is also a learning situation. you know your mistakes (as we all do our owns) so make corrective action as once you are relieved of this burden, life will be far better.

The first step is the hardest. 'Hub

[Michigan1951]

Your thread is very open and honest. Clearly understood. Stay with us, and follow your lawyer's suggestions. You can compare one from another to tweek your case right up to discharge!! Good luck. AC was right too. Take my word for it. Don't beat yourself up like many of us have here. It doesn't change the outcome. But, after the fresh start begins practicing new habits instead of repeating the old ones. I will...........

[music12]

there is a light at the end of the tunnel and no, it's not an oncoming train! all of us on this forum have been through this same thing. you will be fine. go ahead, do not think about the past except for learning from any mistakes so you do not repeat them. take a deep breath, then let it all out and start over. your future will be a good one.

[whipster1]

This is a business decision just like you staying home instead of working. As long as you keep that perspective you will be fine. The debt you have is crushing you right now and afterwards you will wonder why you waited so long to file.

Good luck!

[eventsdj]

you situation is mine, to at "T". Same large loan, to pay off cc's, which we charged up again, except I have 2 kids.
We finally filed Nov. 22nd, and our 341 is in Jan.
The relief we've felt from stopping paying those debts has been more than worth it.
All you can do is go forward from here, and know it is not the end of the world.
You have learned a valuable lesson, and so have we!

[jlybean]

Thanks to everyone who replied. You have no idea how much it has helped ease my mind. It is nice to know that I am not the only one in this situation (not that I wish it on anyone). I am looking forward not back. I know life will be better without this debt. Really the only important things in my life are my husband and my kids and I as long as I have them I will be fine.

Thanks again to all who replied and all on the forum. I will be continuing to read and post as my journey progresses

Happy Holidays!

[Mi Bankruptcy]

My wife is also a stay at home mom.. She did most of the charging on CC. Don't beat yourself up. As a husband I never took the time to question or scrutinize the charges on the credit cards. So, your husband, like me, is just as much at fault for letting you worry about all the bills and for letting you figure out the best way to pay for it. Now... the part will be you two teaming up together to agree on a budget and working together to stay on budget.

[broke20]

The first step is one giant step. I too have many fears, its always fearful of the unknown. But I've gotten alot of support on this forum and it made me feel better to know I am not alone. I was so upset before I found this forum, I felt like a total failure. But I realize I am not and neither is anyone else, its life and trying to survive the best way that you can. Don't beat yourself up over it, like I did. We all have to live any way we can ,this a business decision and the right choice.

[frogger]

We're all in the same boat here. Good luck to you and remember, the first step is always the hardest. Life does get better.