Thanks to all for your advise on this site and for sharing your situations. It has been a source of comfort and strength going through this process.
Filed 9/30/09. 341 Hearing 11/3/09. Discharged 1/5/10.
Deciding to file bankruptcy was a very hard and personal decision. Initially I called a debt management company and they said, we can't help you and directed me to bk attorney's in my area. As with a lot of others, I never thought I'd be in this situation. I've always had an excellent credit score (between 790-815). But bankruptcy is a tool that I used to resolve my situation. It was the right decision. Going through the final course, I remember the statement "A Fresh Start" and that is just what it is.
I had a ton of debt about $800K, business and personal debt (mostly business debt). But I kept one property that has a mortgage and HELOC that are current and never late and I did not reaffirm. I'm also paying back a 401K loan and student loan.
It really was an emotionally draining experience. When I say emotional, I mean being angry, scared and depressed. I was angry for being in this situation, but I made the decisions that got me into this and I take responsibility for it. Fear and scared from the constant calls from creditors and some that I talked to would call back hours later. The creditors were ruthless, some worse than others.
My worst experience; Creditors calling my mom and my sister. Then getting sued after I had already filed. But I had a great attorney and he resolved the matter and the creditor had to pay a fee for violating the automatic stay.
The best tool; Google voice, it's free; Unlisted home phone with unlimited long distance and Prepaid phone. I cancelled my cell phone and now use a prepaid phone instead.
Credit is nice to have, but what I've learned from this experience is that I don't need it. It's better to stick to a budget and savings to buy bigger things over time instead of getting it now. I know that I'll appreciate it more.
Finally, through this process it made me realize that God is there and to have faith.
Filed 9/30/09. 341 Hearing 11/3/09. Discharged 1/5/10.
Deciding to file bankruptcy was a very hard and personal decision. Initially I called a debt management company and they said, we can't help you and directed me to bk attorney's in my area. As with a lot of others, I never thought I'd be in this situation. I've always had an excellent credit score (between 790-815). But bankruptcy is a tool that I used to resolve my situation. It was the right decision. Going through the final course, I remember the statement "A Fresh Start" and that is just what it is.
I had a ton of debt about $800K, business and personal debt (mostly business debt). But I kept one property that has a mortgage and HELOC that are current and never late and I did not reaffirm. I'm also paying back a 401K loan and student loan.
It really was an emotionally draining experience. When I say emotional, I mean being angry, scared and depressed. I was angry for being in this situation, but I made the decisions that got me into this and I take responsibility for it. Fear and scared from the constant calls from creditors and some that I talked to would call back hours later. The creditors were ruthless, some worse than others.
My worst experience; Creditors calling my mom and my sister. Then getting sued after I had already filed. But I had a great attorney and he resolved the matter and the creditor had to pay a fee for violating the automatic stay.
The best tool; Google voice, it's free; Unlisted home phone with unlimited long distance and Prepaid phone. I cancelled my cell phone and now use a prepaid phone instead.
Credit is nice to have, but what I've learned from this experience is that I don't need it. It's better to stick to a budget and savings to buy bigger things over time instead of getting it now. I know that I'll appreciate it more.
Finally, through this process it made me realize that God is there and to have faith.
This is your New Start in a New HEALING Year! 
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