Sorry I Went There......

[Toby629]

I found a Finance Forum and thought I would take a look at what was there. Someone had posted they were considering BK, and there were at least 10 posts telling that person not to do it. They were posting how horrible BK is, they were very negative about it. Saying it is the worst possible thing you could do and basically your life is over if you do it. WOW, I was shocked at these postings, but yet none of these people gave this person any useful information on how to remedy their severe debt situation. But they jumped on this person for asking for advice on filing for BK. I think I will not go searching other forums after this and just stay here. We are getting ready to file, and after reading that negativity, I am just so happy I know about this forum as it has helped us tremendously in learning and preparing us for BK. We are actually relieved to get this over with and we know our life will BE BETTER not worse after BK. There is still such a stigma attached to BK and misinformation about it. I know we will not be telling anyone in our family about our filing as they are negative about the BK thing. At least I can talk about it here without negative judgement from others.

[dingdong]

Talk away! Most everybody here supports the BK decision.

And if you happen to encounter a troll who says otherwise, throw Koolaid on em, makes em go POOF!

This is the best forum on the web, but be careful, it is very addicting!

Sort of like PACER

[WillinVT]

Before I found this forum, I belonged to another forum that had to do with debt and they really pushed "Debt Settlement". What was funny about that place; everyone was against bankruptcy and all for debt settlement, but no one could give any clear answers on debt settlement.

The site pushed for a certain debt settlement company that was honest, reliable and could settle your debts down to 30%, but when you asked questions about anyone using them and having any success, no one would comment.

I am pretty sure the forum owner was an affiliate or had ties with the settlement company and was getting paid for every new member who signed up through the forum.

All I can say is ........ No Thanks!!!

[kenshirley]

Most of us don't want to be here and got here for a variety of reasons.
But the law is the law and allows this form of relief for not only businesses but the individual as well.
For many it's the only way out.

[Stilltheone]

What's so funny is that debt settlement and credit counseling will ruin their credit just as much as a BK...only different is you have to pay off the debt. No thanks, I like my clean slate, thank you very much!

[Toby629]

dingdong, your avatar just cracks me up every time I see it! DH was feeling so down about us filing BK, but I told him it is strictly a business decision, just like Donald Trump has filed for BK for his casinos, the second time no less, so we are not going to take this personally. When you look at it from a business decision, you know it's the right thing to do for your future. And I got that from this forum, which made me feel completely different also about it.

[momof3b1g]

I have done both, Credit counseling and BK. Its really not about one being better over the other. But what works in your situation. Years ago we used credit counseling for our creditors. We didn't have alot at the time. They saved us on interest and saved us on the monthly payment. Got us out of debt in a couple years. This time we were way over our heads and had old collections accounts and ended up getting a judgement. BK was our only and best option.

[zpbk13]

We used CCCS about 3 years ago. They were wonderful (or so I thought). The monthly payment was fairly reasonable and we would have been out of our debt hole in 3-1/2 years. Unfortunately, we kept a card or two out of the program and that was not good. Certainly not CCCS's fault. When we went back recently asking for help again, CCCS was like a different animal. Not helpful at all and wanting a minimum payment of almost $1100 per month with no official end date. They said we had to make a payment or two and then they would tell us how long the program would be. Um, no thanks. I called a bk lawyer and the rest will hopefully soon be history. Bk or credit counseling - I guess it's one of those things where your mileage may vary.

[Ifonly]

I was turned off by CCCS when the counselor said, "well, it's really pretty simple...XXXXX (me) just needs to get a job and make more money."

Wow, why didn't I think of that? The experience was so enlightening...after that was said, I couldn't get past my impression of the counselor as an idiot.