So many new members! Or is it just me?

[Flamingo]

They are doing this to get ahead of the new Congressional law... which wouldn't allow them to change your rates (for technical default). So, they are changing the rates now.

Everyone is getting rate change notices...we are out of discharge over 3 years and our Chapter 13 is off our records. Since April we have obtained a Home Depot and Walmart Discover card. Our daughter has a JC Penney card. All are paid off when used. The Walmart Discover and the JC Penney cards both upped their rates within the past two months... It is happening to everyone and there will be increases also in other fees associated with anyone's card (i.e., late fees, etc.).

[Mommyoftwo]

The "Where to begin" thread was very helpful. It gave me a lot of good information on the basics, but now I'm looking for more specific situation and have had trouble searching. I'm also curious to hear personal stories of how things went, what snags peopel hit, etc. Makes me feel that I'm not in this boat alone...

[$$only4ever]

It just re-enforces my decision to never, ever have another credit card again. No thanks. I will never be a slave to the credit card industry again.

[WhattaMess]

There is so much info on this forum, that even searching is overwhelming!! (Obviously, a newbie here) For me, I never thought bankruptcy was an option. I always thought that in a BK you'd lose your car, house, etc and have to be behind on everything before you could even file. Going through this forum helped me to realize that everyone's situation is different and led to us contacting a lawyer. I've been reading for over a year and just started participating today (working on the nerve for my 341 meeting tomorrow I guess).

I cannot agree enough. The amount of misinformation and scare tactics regarding bankruptcy is astounding. I never dreamed I could keep my house, let alone my cars and my RV. I wish I had a camera on my face when my lawyer asked if I wanted to keep the RV and put it in with my CH 13. I was like, can I really do that? It is amazing how my life has changed from struggling for years to keep my head above water (and failing miserably) to actually having a small surplus at the end of the month. Sure it was a shock having to live in a cash economy, but me and my family have adapted and I have no regrets at all about the decision to file.

ps. The upping of interest rates were the straw that broke this families back also. I was hanging on with payments, never late, when they all started one by one raising interest rates and lowering credit limits. It was probably a blessing they started lowering limits because once I got caught in the vicious cycle of borrowing Peter to pay Paul it was only a matter of time before it would all com crashing down. The lowering of the credit limits just made the crash happen sooner than later. I just kick myself that I didn't have the nerve to check into CH 13 years earlier then I would be much farther along in the process than I am now. (13 months).

[lindsay2181]

It just re-enforces my decision to never, ever have another credit card again. No thanks. I will never be a slave to the credit card industry again.

The funny thing is, I see people on here asking "should I charge this on my card so soon before filing?" etc. I quit using the cards over 2 years ago, cut them all up, got rid of them, and haven't looked back. If I don't have cash to pay for something I must not need it enough. If/when I file BK and make a fresh start, it will definitely NOT include any credit cards! Sure there is a smart way to use them...but it's too easy to fall into bad habits again. I'm not going to have them at all, and take any chances.

[mickeyme]

thank you & question

Thank you DeadManCrawling. I am new and I appreciate your tips on getting our answers fast. I have started using the search tool but if the post is old and I have a question should I just replay to that post or start my own?

thank you

[Flamingo]

... It was probably a blessing they started lowering limits because once I got caught in the vicious cycle of borrowing Peter to pay Paul it was only a matter of time before it would all com crashing down.

That point (when one starts robbing Peter to pay Paul) is the point I feel is when there is really no return to normalcy and the beginning of the big black spiraling hole leading directly to bankruptcy. It is possible before that time to turn things around if one really cuts spending, among other things, but when one hits the Peter/Paul moment, it's time to seriously consider filing because all that is gonna happen is one gets deeper and deeper and deeper in debt from that point on...

[Flamingo]

The funny thing is, I see people on here asking "should I charge this on my card so soon before filing?" etc. I quit using the cards over 2 years ago, cut them all up, got rid of them, and haven't looked back. If I don't have cash to pay for something I must not need it enough. If/when I file BK and make a fresh start, it will definitely NOT include any credit cards! Sure there is a smart way to use them...but it's too easy to fall into bad habits again. I'm not going to have them at all, and take any chances.

A read a quote a long time ago in a financial article..."A credit card is a snake in your pocket." Everyone needs to remember that before they reach for it.

[DeadManCrawling]

Thank you DeadManCrawling. I am new and I appreciate your tips on getting our answers fast. I have started using the search tool but if the post is old and I have a question should I just replay to that post or start my own?

thank you

Hey Mickey,

Welcome to the sinking ship

If you see an old thread that does not answer your questions, it is probably best to start your own, new thread. That way folks aren't confused and won't end up trying to answer the original post on that old thread.

Mods will correct me if wrong on this, but it seems most logical.

Good luck in your journey, and, again, welcome!

[momisery]

The first job I took full time was in 1968. When the pay was offered the benefits were explained. I got full pension, 5 sick days, 2 weeks vacation and 3 after 2 years, and my healthcare was paid of and it was an 80/20. I was 18, had a new car, shared a nice apartment with a girl friend, and saved as well as enjoyed my self. No one paid my car insurance or helped me with college classes, I could afford to do this on min. wage. Prices are out of line, and we are losing our benefits in leaps and bounds. Big business handled the rise of healthcare costs the very same way wall street handled their finances.. just let em rise and then pass em on to someone else. No one monitored a thing. Years later a lot of average folks could not afford the 80/20 so the HMO came along and you paid a little. Yes, more and more are going BK and are without healthcare. The plan is wait until we can find a job and then we might have some coverage in case the "big one" hits. Nice plan, lots of people will die and many will simply suffer because they can not afford for profit healthcare that has balloned. The largest percentage of BK use to be medical debt and I bet it still is. Being laid off certain will drive you there too, but try both once... geesh. No question more are headed our way because of the policies of our country for the past 30 years... and we can blame both parties, not the people.. Americans are hard working people who simply want a fair shake.

[AngelinaCatHub]

The funny thing is, I see people on here asking "should I charge this on my card so soon before filing?" etc. I quit using the cards over 2 years ago, cut them all up, got rid of them, and haven't looked back. If I don't have cash to pay for something I must not need it enough. If/when I file BK and make a fresh start, it will definitely NOT include any credit cards! Sure there is a smart way to use them...but it's too easy to fall into bad habits again. I'm not going to have them at all, and take any chances.

Clap, Clap, Clap. Good for you Lindsey.

[Mi Bankruptcy]

My medical bills and watching market crash made my decision. I told my wife we can file right now and by the time the economy turns around we will be in a good position with decent credit( as long as I dont have huge health care bills). This has been discussed before..the stigma of bankruptcy has been losing its stink. People are losing houses left and right and so many people are unemployed that people are just throwing in the towel. One good thing is by reaffirming some of my stuff I was able to quickly rebuild my credit. I need it because we have outgrown our house. So, closed in march 09 and I have a average FICO score of 633 and a credit card for business travel. Just think.. I wasted two years of living paycheck to paycheck paying late fees and overdraft fees before I filed.