Step 1

[leander03]

Hi everyone,

I am new to the forums. I am heading out in about an hour to meet with my lawyer for the first time. I've had my head in the sand regarding my need to file.

I was laid off at the beginning of 2010. I had a car repo'd & my credit is just bad. I owe about $20k in debt. I am 31 & starting over.

I am actually kind of excited about meeting with my lawyer. I've been putting it off & know where that got me - nowhere.

Ready to get the ball rolling, file & move on with my life.

I've applied to a graduate school, so if I get in - I'll start Fall 2011 & be back in school for 3 years. I am hopeful between the bankruptcy & more education, I'll be getting back on track soon.

Wish me luck. I'm taking a list of my creditors & addresses, my free credit reports & last two tax returns.

[leander03]

I'd like to add to thie by saying:

I am a little depressed. I know it is good for me to file. I've been putting it off, but now I just feel like - I don't know. I feel like things are just never going to get better!

Right now I am driving an old dodge durango my parents let me use. It is awful. It takes tons of gas. The mileage is probably less than 12 mpg. I have one auto loan on my credit report that was paid perfectly. The loan was from a local place. Then, I got another loan a few years later & new car. That car is the one I had repo'd. It was financed through cap 1 auto and I bought the car out West when I lived there. Now, I live in the South.

I am just worried. I need to get a new car. I'm living rent free and just started working making $10 an hour, which is good considering I have no bills. I've applied to grad school for the Fall & that is a 3 year commitment. I want to continue living at home and driving 20 miles to the university to save money on housing.

I just feel like - should I save cash for a car? The whole point of getting a car other than the durango is getting something with excellent mileage. That's it. I don't want to spend a bunch of money, but at the same time, if I pay cash I don't want to get stuck getting something really old & crappy. Again.

I am just worried. I am filing next week. My lawyer says my case is really simple & that it shouldn't take long to discharge. I am just out of sorts right now.

Filing is stressful.

[BrokeinMD]

Hi Leander - Hang in there. My suggestion would be to hang onto using your parents car until after your discharge. Saving money for a major purchase before your 341 Meeting could put up a red flag to the Trustee. Since you're home, can you borrow another vehicle from your parents to get around?

[leander03]

Ok, so if I file next week - and my 341 meeting is 45 days out. I can live with the durango for a while longer. It is ok.

I just want to know, is it ok if I keep working at my $10 an hour job before my 341 meeting? I don't have any expenses other than the bk filing right now, so do you think they will want the money I make between the time I file & my meeting?

[BrokeinMD]

You have expenses, if you think about it. Upkeep and gas for the car to get you to work. Clothing. Your attorney should be showing this on your schedules for the filing.

[leander03]

I will figure it out. My name is not on the car note, but I pay for gas which is expensive. Clothes, food, rent to my parents, storage in Seattle...there's a few things.

I think I am just getting depressed. I struggle with it sometimes, but you know it's funny...I've had my head in the sand for over a year regarding the need to file. Nothing on my credit has changed since then. It's just now that I'm actually filing that I'm allowing myself to think and realize my financial situation. I know it sucks right now & I am down, but I think in the future this will be good for me. I mean if I don't face it now then I won't be able to move on.

You all know how hard it is to go through this. I've already been living with my parents for a year & a half. I really miss my independence and having a place of my own. I struggle with thinking too far in advance sometimes (what if thinking). Maybe the best thing to do is just breathe, get it together, keep going to work and take it a day at a time.

[BrokeinMD]

Yes, but you're doing it to go to school. If I could have gotten along with my parents, I would have done the same thing. Seriously, though, I completely understand the way you feel, but look at it as a fresh new start for you. That's exactly what it is. Education and no debt? You're on your way!

[leander03]

I didn't mention I am going back for a MFA in art LOL.

I have a degree in architecture & was working in that until I was laid off. Architecture is a dead profession now. The economy killed me.

I am going back for ceramics. The idea is to a)teach at university level b)have a studio & teach in my studio c)teach high school and have a studio

All I know is it makes me happy. Thanks for the response!

[BrokeinMD]

Ceramics? How cool is that? I didn't know that was back "in vogue". I went to classes for it at a studio when I was a kid. Loved it! Good for you. My sister has a college degree in illustration, but now works as a graphic designer. There are options with art.