Procrastination

[initdeep]

Will get you no where, I did this for several months. Joined this site last Jan 09 needing a little direction. I tried in good faith not to file and held off for about 10 months...what a waste of time and money that was.
On November 16 09 I filed ch 7 for approximateley $85k of unsecured debt and today I recieved my discharge paper in the mail. This was the best $1200.00 I ever have spent, it even wiped out the back taxes and I was able to keep everything, House, cars, trucks, motorcycles, 4 wheelers, even 3 boats. The greatest part is that I didn't have to include my wife and damage her credit.

So if anyone is considering this...get to it...it is an enormous relief!!!!
Don't waste money on payments such as I did.

[BassBoy]

Like many other Americans that feel that you should always repay your debts, you tried your best to follow this ethical and moral rule. I've gotta give you props for fighting until the bitter end. It's nice to hear how we've battled until the end instead of hearing about those who rack up debt and then file BK because they're a bunch of deadbeats. This is proof that not everyone who files BK is a deadbeat.

Thanks for sharing initdeep and congrats on your discharge. I do hope you enjoy life after BK and may this year be your best year.

[LimpDisc]

Congrats on your fresh start!!!

[mtbc]

able to keep everything, House, cars, trucks, motorcycles, 4 wheelers, even 3 boats. The greatest part is that I didn't have to include my wife

For a moment I thought you didn't include your wife on Schedule C and had surrendered her to your panel trustee, while keeping your other stuff. (-:

An important thing to remember is: Seeking discharge through bankruptcy doesn't say "I'm never going to pay you", it just means, "You can't get on my back about paying you". I filed chapter 7, but I still do intend to pay certain creditors when my income is better again, I just like having more choice about which and how. Some of them are, let's say, rather more deserving than others.

[initdeep]

Didn't include my wife in ch 7 bankruptcy, this was personal bankruptcy.

Thanks and in retrospect I wish I had been a dead beat, I was laid off in Nov 08 from the company I had worked for due to them shutting down.
I continued to make my minimum $2k a month payments for a year because I was too embarrased to file bk...well I was wrong and it would be great to have that $24k back because it didn't lower the debt at all.

[dub]

Congrats

[BCA2009]

Will get you no where, I did this for several months. Joined this site last Jan 09 needing a little direction. I tried in good faith not to file and held off for about 10 months...what a waste of time and money that was.
On November 16 09 I filed ch 7 for approximateley $85k of unsecured debt and today I recieved my discharge paper in the mail. This was the best $1200.00 I ever have spent, it even wiped out the back taxes and I was able to keep everything, House, cars, trucks, motorcycles, 4 wheelers, even 3 boats. The greatest part is that I didn't have to include my wife and damage her credit.

So if anyone is considering this...get to it...it is an enormous relief!!!!
Don't waste money on payments such as I did.

OK, I'm not usually one to challenge staments on forums, and if what you have discribed is correct I am very happy for you. BUT.....

I am curious about the details: cars (pl), trucks (pl), motorcycles (pl) and 3 boats. Were they all very inexpensive and under the exempt limit?

An how did you file on Nov 16, which was 70 days ago and manage to have a 341 plus 60 day wait. Also over two major holidays.

Again, I am very happy for you, but something smells fishy.

[initdeep]

Sorry, Nov 16 was court date, not file date.
The 1 car and truck on affirmation as well as house, 1 car and truck are projects ( so it was said), the boats, 4 wheelers and cycles were never brought up in court by the judge.
All were listed on my paperwork as well as 4 gas royalties.
For some reason the judge just didn't seem to care, my wifes income was never brought up, the only thing that came up was a boat I sold in Feb 09 for 10k that I used for living expenses.
This meeting with the judge lasted a whole 3 mins, no creditors came forward.
It really did seem too easy, and there was a line all the way down the hall waiting for their turn with the Judge.

[BCA2009]

That's great, I hope I have a trustee like yours. The date makes more sense now.

Again, congratulations.

[frogger]

For a moment I thought you didn't include your wife on Schedule C and had surrendered her to your panel trustee, while keeping your other stuff. (-:

I'm sure there are some days the we would like to surrender each other to the trustee.

[initdeep]

Thx and good luck to everyone!!!!!

[kudumaned]

What state are you in?

[initdeep]

It's been a year and life is good!!!!!!!

[BrokeinMD]

Initdeep - You're story is similar to mine, except a different year with the layoff and using my other half's income to pay the credit cards, and the constant battle working and getting the income back up to where it was in 2005 while my other half is now unemployed. The worry, anxiety, stress, etc. has taken it's toll on me physically, too. Gall Bladder, appendix, a couple more parts taken out, too! Do you think the CC's care? Think all my stress about fighting to keep my name, honor, etc. to pay my bills has me anywhere better off today? Ha! No deadbeat here, but I would have been dead, if I tried to make it on my own a little longer and not file! I've learned humility, and, oh, what a hard lesson to learn. I agree completely! Don't procrastinate! If you see yourself sinking, get help!

[helpme2010]

I'm sure there are some days the we would like to surrender each other to the trustee.

I read this and was thinking the same kind of thing, that some trustees are pretty demanding, but surrendering your wife, wow that's pretty brutal.

I think most of us ran across a similar thought process as yours. We didn't want to file chapter 7, we wanted to work something out. I had additional fears of not wanting to lose my house and was also worried that employers would refuse to hire me for having this on my record. But finally it just comes down to looking out for your survival and nothing else matters.

Plus the added incentive of sticking it to the creditors after they harassed me day and night calling a dozen times a day, refusing to work out a payment plan with me, well, that part of BK felt really really good!!!