what did you buy with credit to get into BK

[chloe0724]

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.

And you were able to walk away with a chapter 7? I'm jealous. I'm stuck in a 5 year plan and didn't live on a champane lifestyle...

[fltoo]

Same difference. We all used cc for things we could not afford, and we didn't have enough cash saved for a rainy day. If you don't have an emergency fund and can't afford to buy/do something with cash, you are overextended and walking a thin line if you purchase on credit.

[Overmylimit]

Almost all business debt, over a half a Miilion in unsecured. 4 mortgages and living beyond my means...

[Andyman]

My divorce cost me over $5K and I had a vet bill of over $6K and a few other small things. I was never a big user of my CC's. But had to take a couple of cash advances to get an apartment after I moved out of my house.

[Over our heads]

This was 12 years in the making for us. We have always been able to stay above water, but the bottom has finally dropped out.

We are looking to discharge about 72k-ish. Not so much is dr. bills, but I think we are required to list them.

We added a room in our basement before we were ready, those salesmen are slimy people. We put most of our adoption expenses on a LOC, we always used the CC for holidays and birthdays. When DH took a new job with a pay cut, and a longer commute, we were then using the cc to get groceries, because paying the minimums took all the money! We did eat out a lot, but I am learning now to be quite the betty crocker.

[magyar123]

Mine were mostly car repair charges, gambling charges, traveling charges.
Loved my car.
Casinos were too close to home.
Flights to a European country to visit sick/dying relatives.

[Shaoline]

MorallyBR2,

I liked your answer, it made me laugh! You seem to have a good attitude. I want so much to feel ok about the BK, right now I don't. I'm so sad actually downright depressed. I had my 341 and still have to wait another 2 months to be discharged. I think attitude is everything. I made over 130K per year and made alot of sacrifice to afford my properties. I didn't party with my money and enjoy the good life. That is my regret. I worked so hard, and lived below my means for years for what? Only to lose it all in the end. Sad.

But I really like your attitude and I'm going to try not to be so sad. I wished I had more fun. Now I'm 50, where do I go from here?

[Shaoline]

I came to bankruptcy through a series of terrible circumstances all happening at the same time. My story is too long to tell. It wasn't one or two things it was many bad things happening during a 4 year period. Husband attempting suicide, to quiting career to take care of him. living off rental properties and 210K of earn income from investments. Things just went from bad to worse. Personally, emotionally and financially.

Life should have been good, but it wasn't. Hubby problems, tenant problems, dishonest brokers, dishonest realtors, bad weather, you name it and it was happening to me. It's as if there has been a jinx over my life the past 4 years. Man, I'm really depressed. My sunny disposition got lost today, I hope I'll find it soon. I can't go on being so down. I have really gotten kicked by life. I almost feel like JOB in the bible.

[Genenco]

Here's my story, it's sad but true.
It's mainly about a car I bought used.
I fed it gas and ran around,
then lost my job and then left town.

Nice (little?) Dodge Durango $24K
CC bills about $3K
No rent needed (Took care of Mom)
2 online payday loans ($1000 ea)
1 B n M cash loan place ($1,000 also)

Lost job in 2/06 vehicle repoed in 4/06
(was 2 months behind already when lost job)
CC Bills skyrockets (Try 200 monthly late fees and such)

Decided to look elsewhere for another job. Bought used van, drove 2,000 miles. Dithered about for 2 years, (Did buy a car from "Buy Here/Pay Here" type place, gave car back after 5 months...Owe State for Sales tax too!)came back to original starting place.

Now what? Well, that remains to be seen..trying to get 2006 W2's recovered..I think I did 2005, but not sure.

MorallyBR2, you're to blame for my nasty revising of "Runaround Sue"

[mmenz22779]

i forgot to add that i also have 1 million in business debt (real estate)

[Bandit]

I came to bankruptcy through a series of terrible circumstances all happening at the same time. My story is too long to tell. It wasn't one or two things it was many bad things happening during a 4 year period. Husband attempting suicide, to quiting career to take care of him. living off rental properties and 210K of earn income from investments. Things just went from bad to worse. Personally, emotionally and financially.

Life should have been good, but it wasn't. Hubby problems, tenant problems, dishonest brokers, dishonest realtors, bad weather, you name it and it was happening to me. It's as if there has been a jinx over my life the past 4 years. Man, I'm really depressed. My sunny disposition got lost today, I hope I'll find it soon. I can't go on being so down. I have really gotten kicked by life. I almost feel like JOB in the bible.

That happens. Life can have a way of punching us right in the face, over & over & over for a very long time...and really has nothing to do with karma or jinx, it just is. The Job story is a good one for learning patience.

[Busteddream]

We used credit cards to supplement maintaining our property that never sold after we relocated. When taxes came due, they went on a CC. When flood insurance and homeowners came due, it went on a CC. We truly expected the house to sell and to walk away with 150K profit, so we just reduced our profit expectations by whatever we had to put on cards to keep the bills paid.

We never expected the house NOT to sell at ALL in that 3.5 years. We also didn't expect the value of the property to crash close to what we owed on it. Now even if we sell the property at today's asking price, it won't yield enough to pay off the CC debt we incurred to keep the property up to date.

We're just now realizing we're at the end of our road and beating ourselves up over relocating as the bubble burst. We didn't know it was bursting and really felt our plan was rock solid. It turned into quicksand instead.

[Flamingo]

Credit cards and Conversion Van...We were making great money but my hubby started to go crazy with a hobby that required a lot of traveling and other expenses and then I and my daughter got involved. We were OK until his entire department was let go due to a merger and we made things worse by trying to survive one year on robbing Peter to pay Paul which just made the debt larger and dug us in more deep and with no job in site for him paying anything close to what he was making before, we investigated filing which we should have done way earlier.

For a long time I blamed the job loss for our filing; however, it was us with the credit cards - the denial eventually wears away when you realize you are at fault and just did not plan well and went crazy with the money. If we did not have the debt when he lost his job, we would not have had to file. We could have made it on my salary easily.

[relief13035]

We had 5 mortgages. (1) for our primary residence and (4) rentals. Things started getting tough when 2 tenants lost their jobs and stopped paying rent and I have to cover the mortgages out of savings. Then 2/2007 hubby and I both lost our jobs (worked at the same place), so needless to say, with 5 mortgages and NO job our life spiraled downward fast. Your dream of being real estate investors to set us up for retirements was a disaster.

[stressin]

I bought inventory. That is to say, I had a small business that didn't make it. My timing probably could not have been worse--right after I opened my doors, the economy starting bottoming out. Gas, credit, housing crises...

By the time I realized that my shop wasn't going to make it--I was 100,000 in debt--credit cards, vendors and a family member who had supported me in my venture.