Filed yesterday

[HOMEBODY]

I finally filed yesterday. The hardest decision I've ever made in my life. Now I am just hoping no one finds out about this. I should feel some relief, but I dont. I stopped paying my bills about 2 months ago and life and I am still trying to catch up on my other necessary bills. I am trying to modify 2 rentals and had heard nothing yet, but I am 2 months behind on one and the other one is in foreclosure. As soon as I hear that the foreclosure will be modified, I will keep that property. I finally have decent renters, but these house have cost me a fortune to repair and they were empty for a few months each. I wish I'd never gone into owing real estate rental properties.

Anyway, does this get better at all?

My hearing is coming up on July 2nd, and I guess I will be discharged right around September 2nd.

[trigabyte1]

Anyway, does this get better at all?

Listen, things happen. It sounds like you did all you could to avoid BK, but these things happen. As an honest person, of course you feel "bad" about your BK, but you shouldn't.

Our capitalist system is based on consumer spending and debt. Some people are lucky enough to go their whole lives without a problem, then there are those like us who get in over our heads, have unexpected bills, etc.

First, stop feeling bad. Things will get better, though there's going to be many nights where you'll probably have trouble sleeping because you'll worry something may go wrong.

The fact of the matter is that most people enter bankruptcy with the same assets that they leave with. And, frankly, there's a lot of people out there who have BK'd, so you're not alone.

Do you have an attorney or are you pro se? If you have an attorney let him do the worrying. That's what you paid him for.

If you're pro se, make sure you did all your homework. Check and then double check then triple check your filing - especially your matrix and exemptions. Make sure all the i's are dotted and the t's are crossed.

You'll make it through this. There are many people on this site who have gone through this process and have come out so much better for it. Take your time, read the posts and learn what happens. I think you'll be reassured by just how "simple" this whole process is.

Take it easy and relax. You'll be OK.

[nc73]

Awesome your case got filed. I signed 3 days ago and the lawyer still hasn't filed. He said he would in a few days after we signed. I called and the receptionist said to leave a VM. Nada...

[thereshope]

Congrats to making the decision to file. I was discharged 5 months ago and things do get better, my process went very smooth. But it was a stressful process and creditors can be mean! But being able to say I filed to creditors was a relief in itself.

I had 2 rental properties that I let go, the values went down way too much and I decided I wanted to let everything go except my primary residence. Bankruptcy has been a fresh start for me. I also didn't want anyone to know. But I ended up telling my mom and it actually was a relief.

[lilacs80]

I know the feeling. We also decided to file as our last resort and we also didn't want anyone to know especially my parents. Even now, I'm still worried and hope they will never find out. We just filed as well and is scheduled for our hearing on July 1st, just the day before you! We're also super worried about the hearing and what to expect from here on out. Good luck with everything and do keep us posted on how things go for you!

[HOMEBODY]

Thanks Trigabite for your comforting words. I was going to file pro se, then I decided to hire an attorney and I feel much better that he did the work for me. I am sure I will get the same results as if I did it, but I didnt want to worry and have the trustee asking too many questions or too many documents if I missed something.

Just feels weird to know that I wont be using credit cards or that I cannot apply for a car loan for a long time. I dont know if I will let one of my houses go. If I can settle the 2nd line of credit on that house which is $20,000 for $2,000 and the 1st will remain at $160,000. since the house is only $30,000 underwater i should be ok. Right now if someone was to buy from the bank it would be $130,000. Havent decided what to do with that one.. I was negotiating a modification with the executive team at Wells Fargo and great help she was..she didnt tell me that they would be filing foreclosure and no one did. All of the sudden I start getting all these certified mails from the foreclosure attorney so if they dont modify then they can have their house back.

Just never thought I would be filing BK, but one thing though is that not having those bills on my things to pay each month does make me feel a lot less stressed. Was hard keeping up with the dates and worrying about late fees and interest going higher because of one day late.

I am going to be needing a new car next year or rather one nearly new. Will I be able to buy a car on credit? I dont want credit cards and I dont need anymore houses.

[scorpion35]

Thanks Trigabite for your comforting words. I was going to file pro se, then I decided to hire an attorney and I feel much better that he did the work for me. I am sure I will get the same results as if I did it, but I didnt want to worry and have the trustee asking too many questions or too many documents if I missed something.

Just feels weird to know that I wont be using credit cards or that I cannot apply for a car loan for a long time. I dont know if I will let one of my houses go. If I can settle the 2nd line of credit on that house which is $20,000 for $2,000 and the 1st will remain at $160,000. since the house is only $30,000 underwater i should be ok. Right now if someone was to buy from the bank it would be $130,000. Havent decided what to do with that one.. I was negotiating a modification with the executive team at Wells Fargo and great help she was..she didnt tell me that they would be filing foreclosure and no one did. All of the sudden I start getting all these certified mails from the foreclosure attorney so if they dont modify then they can have their house back.

Just never thought I would be filing BK, but one thing though is that not having those bills on my things to pay each month does make me feel a lot less stressed. Was hard keeping up with the dates and worrying about late fees and interest going higher because of one day late.

I am going to be needing a new car next year or rather one nearly new. Will I be able to buy a car on credit? I dont want credit cards and I dont need anymore houses.

yes u will be able to buy the car on credit.

[HOMEBODY]

but how soon will I be able to buy a car and will the interest be very high?

[gmk]

It won't be long when you'll likely start receiving mailings from auto dealerships offering all kinds of special deals for the recently bankrupt. I get one or two a week, but they don't discuss the finer details in their mailings so I would guess the terms are likely uncomfortable.