Who have you told?

[blessed]

Have you told your friends or family that you filed for bk? I know there's still a stigma about it and am wondering how you all have handled it.

My husband and I have decided to not tell a soul just because we know our families won't understand. Part of the problem with this is that I am so happy to have a financial future that I want to shout it from the rooftops! I guess I can tell you all how much less stress I am under since we decided to file, it's a great feeling.

[justbroke]

I have told no one. Should they find out... so be it. There's really no need to go telling people unless you have joint accounts or other financial arrangements with them.

[blessed]

My problem was what to tell the babysitters. My sister was here for my second meeting with the attorney and I had to tell her I needed to get info on our options for debt consolidation because I didn't know what to say. Not a huge deal but it's hard to go to an "appointment" without saying kind of what it's for.

[kvangild]

Only my parents and my girlfriend know. My parents only found out because they cosigned a student loan with me and they had to be notified of my filing.

[espo1357]

I have told no one. Should they find out... so be it. There's really no need to go telling people unless you have joint accounts or other financial arrangements with them.

wise owl here.
I have told three people, my best friend, my best family member friend, and one other person whose opinion I respect.

as the wise owl stated, there is no need to get your business out there. however, if you have friends or family that are under financial distress, it is good to give them information to help them consider if BK is the right strategy.

to sum it up, I find that smart people are the ones that file, especially when they (me) get screwed over by people lying on loan documents to buy houses they had no business buying and banks giving out loans to these same people as well, something that really messed up people like yours truly who make excellent income yet have a home underwater by over 100k because of the bullshit that floated out of these lies.

rambling over....hope I made sense here.

[DYLAN150]

Here is just a few people who filed for Bankruptcy:

Donald Trump, financier
Michael Jackson, singer
Wolfgang Amadeus Mozart, composer
Elton John, singer/composer
Kim Bassinger, actress
Mike Tyson, boxer
Mark Twain, humorist
Burt Reynolds, actor
Thomas Jefferson, patriot and president
Gary Coleman, child actor
MC Hammer, rap singer
Willie Nelson, country singer
Lorraine Bracco, “The Soprano’s” actress
Charles Goodyear, inventor of vulcanized rubber
PT Barnum, circus promoter
L. Frank Baum, author of “The Wonderful Wizard of Oz”
Mathew Brady, Civil War photographer
Oscar Wilde, playwright
Jerry Lee Lewis, rock singer
Rembrandt, painter
Henry Heinz, ketchup magnate
Milton Hershey, chocolate magnate
Henry Ford, auto magnate
Johnny Unitas, football player
Wayne Newton, entertainer
Mickey Rooney, actor
Debbie Reynolds, actress
John Connally, former Texas governor
Walt Disney, creator of Mickey Mouse
Mick Fleetwood, rock singer
Merle Haggard, country singer
Ulysses S. Grant, president and Civil War general
Dorothy Hamill, figure skater
Larry King, talk show host
Bowie Kuhn, former baseball commissioner
Stan Lee, comic book creator of “Spider Man”

[wanabath]

Great post Dylan.

What these people realize is there is no shame in a bk, IT IS A BUSINESS DECESION. I could care less who knows and care even less about how anyone thinks about it. I talk to friends about it all the time, many of them are in the same boat.

[espo1357]

its all about protection for your future and your family's future.

besides, with all the taxes we pay for nonsense, we are still way behind!

[Depressed]

I've told a friend that I've known for 30 years. He's about to go through the same process. Haven't told any family.

I've also told another friend of 6-7 years. Probably a mistake. This guy is a silver spoon trust fund kid, millions in the bank, never ever had to worry about money or bills. He's spent over 300K on toys in the last two years, and has absoultely no idea about how 99% of the population in America lives. He's treating me differently now and I haven't asked him for anything. Actually, I don't think he's even a friend. I'm just the only one he knows and he likes to tell me about all the great stuff he's bought recently. I tell him about how the house payment is nearly 3 weeks late and I have $300 bucks until payday, and he says come check out my new truck camper and new travel trailer.

[blessed]

Yeah that doesn't sound like a friend to me.

*I* don't care about filing or I wouldn't be doing it. But I know others would think differently. Interesting about all of those celebrities though.

[AngelinaCat]

My VERY BEST Wishes go to all of you!!

[Dannmcg357]

wise owl here.
Ito sum it up, I find that smart people are the ones that file, especially when they (me) get screwed over by people lying on loan documents to buy houses they had no business buying and banks giving out loans to these same people as well, something that really messed up people like yours truly who make excellent income yet have a home underwater by over 100k because of the bullshit that floated out of these lies.

This is me in nut shell, about 130k under water. SOB's
I have told my landlord, parents, children (this sucked, but can't keep it from them, all are over 15), boss, coworkers, and friends. Only some disapproving looks and one friend who said I should have not signed if it was a bad deal. I respect him for his honest opinion, I know this is someone I can go to for advice and not be told what I want to hear.

[gmk]

My sister and brother in-law know. Years ago they were against the wall due to his business and I lent them a good size hunk of money. They went on to success and I was repaid. Before I went unemployed in Dec '09 I spoke with them and out of the blue they sent me some money to tide us over, so I'm keeping them abreast of details. I would suppose that the rest of the sibs know also. Maybe not, I haven't told them and likely won't. We'll see.

Our adult children know. That surely means that both of our exes know.

My wife told our next door neighbors that we weren't doing well and that if it continued BK may be the offing. This likely means the neighborhood knows.

I don't care who knows but I'm not going to broadcast the news. My upcoming foreclosure will hit the newspapers so the community at large will know. So be it. Our plans are to return to GA, where the kids are and I suppose in time the word will spread. So be it. I'm not thrilled I'm taking these actions, I think it's a positive step forward, but I'm getting over the shame part of it. Most will likely not understand and that's too bad but it is what it is.

[rooster0330]

We haven't told anyone! There is still definately a stigma that is attached to it!!!!! I too had a difficult time in the beginning, but have resigned myself to the fact that it is purely a business decision and the best decision for our family!!!!

[frogger]

I've told those that need to know. I have had nothing but support from all of them.