what did you buy with credit to get into BK

[mmenz22779]

Just curious, what did you charge to get in debt so high or that will cause B/K?

also how long did it take you get in debt?

what is your total debt (credit cards) and what was your house hold income

For me

60% = stock market
10%=living expenses (walmart, target, cotsco)
10%=car stuff (tires and brakes)
10%=house maintence
10%=misc expenses

It took me over the course of 2 years to build up the debt.

total credit card debt = 35000 all unsecured

income = 120k

[fltoo]

Took 5 years to rack up 100,000 in cc debt and go through 200k cash due to a business that carried a loss every year. Kept hanging on thinking I could grow the business. I never really used cc to purchase personal things. My income was zilch.

Should have had a V-8 a lot sooner.

[Bandit]

It took me one second, yes one second, to ca ching 100,000 in medical bills.

I am not sure what it would be if I had not gotten health insurance finally because then it took me another 3 months to rack up tens of thousands of more dollars being in the hospital another 6 times this year...

I was at the hosptial again today for more problems.

My BK is going in with some credit cards & mostly doctors & hospital names with unkown amounts owed.

so -I bought my health. Lucky me.

[Annika]

Medical bills here, too. 4 months in and out of the hospital, finally resulting in major surgery.

My choices were to go to the hospital and stay alive ... or don't.

[okiemom2008]

we got into alot of credit card debt(furniture mostly) and paid it all off.

Then we became a independent distribitutor and kinda got sucked in by being nieve and racked up credit cards just trying to make it.

Bought a new 2008 vehicle that lost over half its value immediately.

Moved from our homes thinking they would sell and ended up with 2 mortgages and rent

Credit Cards is what hit us the hardest though.

[Bandit]

Medical bills here, too. 4 months in and out of the hospital, finally resulting in major surgery.

My choices were to go to the hospital and stay alive ... or don't.

I know your pain. I really do.
At least some people get to enjoy creating their BK debt for awhile.
We will never know.

[hopeforus]

our mortgage and all our other bills when the army reserves hurt my husband and sent him home injured from school without pay, unable to work and to return to finish the school a couple months later only for the same thing to happen. We went a year without a job... with only a couple months of military pay in there.

Which is why I feel very little guilt at this point about bk. We didn't do this to ourselves.

[Bandit]

our mortgage and all our other bills when the army reserves hurt my husband and sent him home injured from school without pay, unable to work and to return to finish the school a couple months later only for the same thing to happen. We went a year without a job... with only a couple months of military pay in there.

Which is why I feel very little guilt at this point about bk. We didn't do this to ourselves.

You are absolutely right. At first I thought I was feeling guilt but later realized it was just all pure anguish & sadness from the misery of trying to stay alive. On the other hand at least they dont harass us or try to prove us guilty of fraud when they know we did not create the debt on purpose for pleasure or fun.

Your story of an injury happening twice is a real possibility for me too because one of my biggest fears now is being hurt again & not being able to work to keep the insurance paid up.

But I never had the attiude of screw the banks & doctors either because they helped me during a very hard time.

[Never_Again]

Mine included some credit card debt, a business credit line, some business trade accounts, a new vehicle (that was five years old by now), a new travel trailer (again, five years old by now), and a few other miscellaneous items.

Much of my credit card debt was from business expenses, which you can interpret as paying personal expenses, because my personal expenses were too high for the business income. That, and getting into a business that I probably shouldn't have...

[morallyBR2]

I partied my ass off. I have nothing to show for my 155k of debt but some awesome memories and tons of naughty pictures

[chloe0724]

We have our house to show for a lot of our debt, credit cards included.
When my husband became disabled and couldn't work any longer, that's when it all fell to pieces.

[chloe0724]

I partied my ass off. I have nothing to show for my 155k of debt but some awesome memories and tons of naughty pictures

I hope you;re not serious...

[StartingOver08]

Mine was from a variety of sources - including a long battle with cancer, then the real estate market turned just as I was getting on my feet from the illness. Tried to keep my business afloat with credit lines and credit cards while the market was tanking daily....

I have learned my lesson about risk and reward. If you are highly leveraged (cc's and cl's) then when the bottom drops out - you are sunk. Hence...I am StartingOver08

[WorkingItOut]

Almost all of mine was from living expenses. I bought a house that was affordable at the time, but then my income unexpectedly dropped by 30% and my mortgage payment was raised by about $200 a month due to a miscalculated escrow account. Then gas prices skyrocketed and I was driving 500 miles a week for work in an SUV that got 18 miles to the gallon. This combination meant turning to credit cards to live. I kept thinking my income would rebound and I'd be ok, but it never happened. Then my house started needing repairs and my car started needing repairs. Pretty soon my credit cards were maxed out and they jacked up my rates so that the minimum payments went sky high. At that point I knew I was done.

So nothing fun or frivolous here. Just trying to make ends meet. It took about 2 years to get to this point. I have about $30k in credit card debt.

[morallyBR2]

I hope you;re not serious...

I am serious. I know that most of the people here have really sad stories and my heart goes out to them but I have no sad or compelling stories. Champagne taste on a beer budget. I am back in school though so that I can hopefully fund my desire for a high dollar lifestyle one day. I was just being honest about how I got where I am. That does include a foreclosure at about 100k. And actually I do have some nice furniture and appliances and a nice wardrobe but thats about all I have to show for it.