A couple days ago I made an initial payment to my BK lawyer and am now beginning the process for a chapter 7 filing. I plan on sharing my journey as I feel it will help me cope with the reality that is bankruptcy. A couple of years ago I would have never imagined that I could be in this situation; and I know several people lurking around this site felt the same thing. I made a good living as a speculator in financial markets and a consultant for entertainment industry hospitality events. One day I made enough money trading financial products that I was able to leave the abuse I was enduring on a daily basis at a difficult entertainment industry job at a major studio. With so much free time on my hands I made some poor financial decisions, particularly after partnering with a friend who showed interest in making money like I had been, and several months later I found myself with no job, no money and 70k in credit card debt. I left college early and had a very hard time finding a reasonable paying job; even now as I type this, I work as a fine dining server in Los Angeles. I am in debt over 80k including my car loan and I know I need a fresh start. I am fortunate to make 2.8k a month. It was hard but the only reasonable decision was to start preparing for bankruptcy. I will say I didn't feel terrible as I thought I would by taking the initial steps, retaining a lawyer etc... I don't think that bankruptcy is an immoral thing, it simply is what it is. I don't know what the future holds but I plan on updating and answering any questions about my experience as it continues. Today I sent my attorney my 2013 and 2014 tax returns.
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Welcome to the forum and good luck on your fresh start! I am a good deal happier and a lot less stressed since my wife and I filed a Ch 13. It is one of the best decisions I have ever made. Would've loved to have filed a 7 but we "bombed" the means test and got behind on the mortgage. -
Just remember... bankruptcy is a process, not an event. Good luck.All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......Comment
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Welcome to BKforum!LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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One thing I'd suggest is be certain you have health insurance before you file.Comment
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