What have you done since discharged?

[CATCHMEIFYOUCAN]

Just thought this might be interesting to read about peoples lives after discharge, if they still continue on the board.

What have you done since discharged?

I got myself a secured credit card with "New Millennium Bank." Initially I paid $99, processing fee. Than gave an additional $300 (the minimum amount needed) to get the credit card. The minimum amount and any additional amount goes into a "savings account," you can accumulate up to the max $5000. So whatever amount you put in IS your credit limit. They charge an annual fee of $59. You must keep the account open for at least a year. So far I have a $600 line of credit (secured that is.)

I've been contemplating on getting additional credit, but being a gambler, I'm afraid. So I'm trying to be good and just stick with what I have.

I use to work 2 full time jobs, but since converting I've been able to just stick with one job and actually getting plenty of overtime. (60-80 hrs overtime a pay period) and actually making more than working 2 full time jobs!

YES, I still gamble, but only what I can afford/lose. Part of my paycheck gets deposited into my Significant Others account, so I'm not gambling on my rent, car payment etc. I deposit just enough to cover my necessary expenses. And believe it or not, I have been able to control my habit moreso than not.

After I decided to quit one job. I had defaulted on my 401k plan (friggin' $12,000!). 2006 Taxes hit me hard. I owed a little over $5000 (back in debt again - more or less). I was able to set up a payment plan of $100 a month with the IRS. Luck be my way, I paid Uncle Sam off end of June or July.

Now I'm just working/gambling to pay off my car. My goal is to get my car paid off by the end of next year. I had bought a Hyundai Sonata a month before I filed (I had too) since my Honda got flooded - go figure - just before I had to file. I got a semi good interest rate 9.9%, I guess timing helped somewhat, as I think I would be paying way more after filing or not being able to get a "new," car had I remained in Ch13.

Anyways, not much to my life, I guess. I still live a frugal lifestyle, always have (despite the gambling). But I sure feel much more "free." I love being able to go shopping and pay for things with cash, knowing I don't owe anyone but myself.

Best Wishes to Everyone, Catchmeifyoucan

[BKTango]

Awesome thread idea Catchme, and by the way it's good to see you posting!

What have you done since discharge?

Let's see. We were discharged in February 2007.

Our first priorty was to build up an emergency fund. With the help of the sale of a few auto parts we have managed to put away around $2500. That's a nice start.

We fixed our water well, and the a/c unit that went out twice. We have been able to take care of some desperately needed car repairs that had been neglected. We were able to have the septic tank cleaned out, hadn't done that in 5 years. All three of us went to the dentist, and eye doctor.

I was able to pay for all of our DS school supplies and clothes with CASH. Haven't been able to do that in about 3 years, and it felt amazing.

We honestly have no desire to obtain any credit at this point. We haven't had a need for it and don't anticipate a need for some time to come. We have each other, our health, our home, and our cars that still get us where we need to go. Beyond that, we don't want for anything.

We pay all of our monthly expenses and our savings. There usually isn't much left after that. So we still live quite frugally just to be able to save. Mostly we have learned to breathe easier, and live better. We spend our time riding bikes, fishing and just enjoying nature. It's free and it's nice to be able to enjoy doing family things without worrying about the $20 you may have used for gas to get there. We have learned to laugh a little more, and cry alot less. Basically just to live life instead of existing in it.

[BKOnce]

On yahoo news today, .." A frugal family of seven lives debt-free on $35,000 a year — and the help of walkie-talkies"....In short, cash only, coupons, thrift stores, church, etc... AND NO cell phones because most cheap walkie-talkies now offer you up to 6-8 miles ranges, where your family members can talk/reach others locally/easily anywhere/anytime in your town. Debt-Free Period!.

[DisneyGirl]

My Ch7 was discharged Sept 2004. I actually came to this board to learn how to rebuild.

What have you done since discharge?

Well so many things. We still lived in WA when we were discharged. We built up a savings account so if anything were to happen, we'd have about 6 months of living expenses saved. We lived on a cash only basis which really taught us to live within our means. We paid off both our car and minivan that we kept through the BK (car was reaffirmed, van redemption loan).

All was going well until Sept 2005, disaster hit in twos! Or so we thought. Hubby found out the company he had worked for for the past 9 years was offshoring and everyone was losing their jobs. He was told he'd stay on to the end which was March 31, 2006. Within weeks of that news we found out the complex where we rented our townhouse was going condo and selling all the townhouses along with the deal. We had until the end of our lease to move out. Our lease was to end April 30, 2006. So we would lose our only source of income and our home within a month of each other - how bad does that stink?

Well we love California and have gone on vacation to Disneyland many times over the years. We dreamed of one day moving there but thought it would never work out. It was to risky, etc. Well since we knew we'd have no home or job we decided it was a "sign" to just pack up and do it, move to California!

In April 2006 that is just what we did. We now live in Southern California about 1/2 hour from Disneyland. Our rent only went up $200 month over what we paid in WA because we found a great landlord who was renting for way less than he should (don't tell him that though!). We now have Premium Annual Passes to Disneyland, which we save for every year. We only have two credit cards between us. Both get paid off right away if they are used. Hubby has a great job making way more than he made in WA. So now we're saving for a house plus we still have that growing savings account. Also the really great part is having enough money in the paychecks so that if something breaks (like our TV last month) we can afford to buy a new one and it doesn't totally kill us like it used to.

We really don't spend money like we did 4+ years ago and yet we seem to have so much more. Weird how that happens. And it's all paid for and that's the best part. We now stop and think about purchases in terms of "do we really need that?" Bk changed our lives for the better and I'm not ashamed that we did it. We learned so much since then and I'm thankful for that life lesson.

[BassBoy]

Excellent thread idea CatchME! This would make for a good sticky.

We were discharged in Feb 2006 (wishing it would close already) and since then, I have a newer vehicle and we have one credit card. For now, that's all we need. We worked very hard on managing our money and try hard to stick to the budget.

We are renting a very nice 3 bedroom home and we try to do more things with our children that we weren't able to do before the BK.

Other than living each day, one at a time, we haven't done too much that it is exciting.....but......living without a mound of debt is exciting in itself.

[CindyLou]

Well right after BK my husband lost his job, which he is not the main bread winner, so it was not such a blow. But at the same time I got a bonus. Shortly after that I decided to change jobs and follow my boss to her new job at a hospital across town. That meant vacation cash out. So between the bonus and vacation cash out we were able to see the old beater and put a large down payment on a small suv and get a prime apr through ford and really love the vehicle. We have started to rebuild our credit quickly. Did the aspire thing right in the beginning. kept it for the first year then cancelled before the second. Now have juniper with dach 3500 limit and no annual and hooters with each 2200 and hubby with 0 annual and me with. Orchard combine all 4 of our cards to joint accounts and combined the credit limits and made it no annual fee. I cancelled all the other starter cards. Things looking up.. Was also able to use cap. one to finance hubby's jeep back in Sept of 06....we had done a ride through on a ford focus with a high rate and we upside down by more than we thought, so we decided the smart thing to do was go head and give it back.

As far as budgeting and credit cards. We are living 99% cash basis. Only big ticket item are we charging, for example our TV went out completely and we got 18 months no interest at sears, so we did that and we intent to pay every penny off prior to the 18 months.

I have increased the money going to my 401K and I have starting paying my savings account as though it is a bill every months. I don't miss paying my savings bills just as wouldn't miss paying my electric bill!!

We stopped eating out 6 times a week and only allow ourselves takeout one night a week and going to a nice place maybe twice per month. Before BK we could spend 1200 per month just on going to rest. and having 2 drinks with our meals. That's another thing. We have decided not to order drinks with dinner unless its a special occasion. That has saved us a TON of money!!

We have also agreed on a clothing budget instead of "hey I like it I'm buying it" Which was my husband's philosophy!!

So I guess we have have made major changes. I don't see how we even made end meet at all. Even with the credit cards, I don't see how we did it before!!! But it is so much nicer now that we are being resposible consumers!! I like it so much better this way!!! Again there were some things that let to my BK that were outside of my control and some things that were.

[Cassiopeia]

WONDERFUL thread.....you guys are doing great! I can't wait to post here, I should be discharged soon!!!!!!!