Does it look bad?

[cleverdonkey]

If you aren't late on your payments, and you file for BK? My husband says he thinks it looks like I just want to get out of having to pay. That I'm just tired of making my payments. Needless to say that just making my minimums would take me pretty much the rest of my life to pay them off. And that doesn't include what I would end up owing the IRS. I recently realized that my income is half what it use to be from 4 1/2 years ago. (I became self employed in April of '05) So maybe just a case of not adjusting my spending habits to match my income. But seriously I just finally did the math in my head. I'm a little slow sometimes. Sorry to ramble.

[keepmine]

Nothing in the code requires you to be in default in order to file. If you qualify for a Chapter 7 discharge, you'll get it. It won't matter what the status of the debt was when you filed.

[cleverdonkey]

Good to know.

[ccfriend]

I wasn't late..I was like you I had lots of debt and each month I would basically rob Peter to pay Paul. I had no questions asked! I am in a 13

[cleverdonkey]

Today may be the first day of no payments. You are spot-on with the rob Peter to pay Paul. Ive been living that way for far too long. I'M glad to know that I'm not the only one. Bk and finances are almost more taboo that sex...
I have a phone appointment in 15 min. I am nervous. Not sure which CH they will suggest.

[sophia]

No, besides your lawyer once hired will tell you not to pay the cards anymore and by the time you file you will more than likely have a late payments.

I hired mine first week of Feb, missed all my CC payments for Feb, March & April.

[cleverdonkey]

I am done with my phone appointment. Sounds like Ch 13 for me. I guess I will be behind by the time I file...
I think that not paying is turning out to be the hardest part for me. At least right now. Anyway I'm glad to have some information and to get the ball rolling. I just cant do it anymore. The stress of scraping up money has become too much.
Thanks everybody for your info.

[Fresh]

I have to agree with you. It's terrifying NOT to pay when you have been paying for such a long time. I have to tell you that the stress relieved will be tremendous. Everyone here walked me through it and as long as you know what to expect, believe me, it is so much easier to deal with. Know that creditors will call you and what to do from the advice here.

There are so many people struggling and on the edge in this country. Know you have a lot of company.

[cleverdonkey]

Im hoping that that relief is felt soon. Thanks again.

[car67]

Dont worry we all stressed starting out in the process... Its normal but it will be fine!
If your filing Stop paying all creditors except car or home if you plan in keeping them and tell the rest nothing.... Put the cash you save in a sock under the mattress and enjoy dont worry tons of people in financial ruins its all over the news!

[car67]

PS open new bank account at totally new bank before you file too that is a must and move any cash you got to new bank... It should be a bank that you do not have any loans or credit with.....

[cleverdonkey]

Thank you for the reassurance. It really does make me feel better.
Im in the process of researching banks right now. I want to get that done asap. Will the fact that I opened the WaMu 4 months ago, or the fact that I already have 4 checking accounts affect my ability to get other checking accounts?