Greenie

[Anna.M]

Hi all- My name is Anna and I'm in the process of filing for Chapter 7. I'm 24 (Yeah I know- I'm learning this lesson really young, but I consider that to be both a good and a bad thing) and from Utah. I just retained my attorney (whom I really like- and I think that's half the battle; actually liking your attorney) on Thursday and I think I've done my homework on the subject and opened up a new checking/savings account PRIOR to filing. I'm now getting everything together and saving up the 1100 I'll need to file! I know bankrupty shouldn't be perceived as a "good" thing; reason being the big red flag on my credit that will follow me for a decade- but I honestly think not being able to borrow money is the best thing that could happen to me. Once I file I'm going to be able to put almost all of my income away (being as I live with my parents rent free and so the only bills I have are my cell phone, internet and health insurance) and pay cash come fall for a 2-3 y/o Honda. I'm excited about what I'll be able to do once I have a clean slate. My attorney thinks I'm in good shape to proceed with filing and that I've done my research. This looks like a great place to talk with people going through some of the same things (although each case is unique) and get advice from those who have been in my shoes already! Hope all of you are having a fabulous day!

[phoenyx]

Hi Anna,

We're glad to have you with us. I think you will find the people on this forum are among the nicest and most helpful out there, and you should be able to get answers to many of your questions here.

It is frustrating to go through this process young, I'm 26. However, I'm sure younger people have filed, probably even as low as 18.

I have a different take on bankruptcy. I think filing it should be perceived as a good thing. Someone who files bankruptcy is obviously in debt over their head and needs help. Being in that debt isn't a good thing, but the filing of a bankruptcy is -- in my opinion! It's not a lot different than if you suddenly came into enough money to bring you to breakeven (in the case of a Chapter 7.) Granted, the red flag follows you around, but in most cases, the filer's credit was already harmed before filing, and within a few years of filing and properly managing their credit, a filer often has a higher credit score and has an easier time obtaining and paying credit.

Living with parents to decrease expenses is a great thing in my opinion to start out, or get back on your feet. If I wan't married, I would be moving back in with one of my parents. It's no different than if you were earning as much extra money as you're saving!

[Teddy]

I have come to the conclusion that it's a good thing too (took me a very long time to do so). I just filed 3/21 and I feel a great sense of relief!

I didn't like my name being in the paper, but I wasn't alone - I bet there were 50 names from 3/11 - 3/28. And I'm in not in a big town by any means.

I feel like it will truly give me the fresh start that I need. I've always had cc debt and this will be the first time without it and I'll be able to pay for things and I will also have to save for things I want vs charge them.

I'm 43 and I wish I'd done it sooner!

[Cassiopeia]

Yep, BK is a GOOD thing! I wish I had filed sooner too...A LOT sooner. Would have saved myself much stress/heartaches/health problems, mental and physical.

I am SO much happier now!