Is anyone here a repeat offender? LOL.

[oregonpilot]

At 59 its 1st for me. Hope to never do this again.
My S.O. went through it about 30+ yrs ago. He avoids credit cards like...
(As someone signs) a snake in your pocket.
When i went and watched a bunch of 341's last week. Trustee asked a husband if he had filed B4 and answered NO, asked the wife and she said yes in 97. Hubby said....WHAT, YOU NEVER TOLD ME THAT!!!everone in the room(and it was a BIG) could hear that conversation.
BTW..only checked pacer once. Got my 341 date & time.

[2bdebtfree]

I guess I should respond here as well. I really didn't want to admit it.

This is my second time around. We were discharged in 1997. My FICO score is like 760 right now soon to be 500. lol

The first time I had a house. My twins were 2. Husband stayed home because my job had insurance and steady work. I'm still here. We used credit to fix the old house we bought and to survive. The rules were different back then and I don't really remember much about it. I do remember the 341 meeting. I was really nervous and did feel relief when it was over. Then is was cash only and it was great.

I did look to see if my attorney still practiced because I would have had him do it again. He is not in practice anymore or he moved to a different state. He was a great attorney. I remember is cost $700 back in 1997.

Now I really dont feel alone that this is the second time. I still have my discharge papers.

[drowning123]

I was so embarrassed when we went back to the attorney that handled our first BK. He was understanding and all, and that just made it worse.

You're brave.

[houston7]

Repeat offender here.

First time was in 1991 (chapter 7) due to a job loss. Then I filed a chapter 13 to try to save my house in 1992. Those took place in Oregon.

Fast forward to 2000, and after repairing my credit I moved to Houston. Bought my house in 2004. Paid 44,000 @ 6%. As my credit improved, so did my lines of credit on the credit cards. I took advantage of the offers and used that money to pay down my mortgage. As usual, a business that I worked for needed to improve their bottom line, so I was laid off. Hello chapter 7 in April of this year. On the bright side my mortgage balance is around $21,500 now. I can cover my monthly payments no sweat. Now if I could only find a job.

Which brings me to my next point.

I fully expect to file chapter 7 bankruptcies every 8-10 years (whatever the legal limit is) until the day I die.

Repeat offender? Hell, I am gonna be a serial offender.

It's not something that I am going to plan on doing. I have just accepted the fact that it is going to happen. Some of you are probably asking why.

So allow me to 'splain.

In cased you haven't noticed, our economy sucks. Whatever amount of recovery that occurs will result in a drastically reduced standard of living. Well, except for that unfortunate part where even though our wages are going to drop to the level of 30 or more years ago, the cost of goods and services isn't going to see such a reduction.

Nice mix. Not.

So, when you combine low wages with high cost of goods and services, mix in a healthy portion of outsourcing which kills any sense of job security, add in the banks which are both greedy and inefficient, then heat well with politicians that care more about big bu$ine$$ than restoring the middle class, you have a recipe for disaster.

My attitude towards this process can best be summed up by Bob Seger from "Night Moves": I used her, she used me, but neither one cared.

[IBroke]

****CAUTION ALL FEMALE.... MALE and OTHER READERS PLEASE DO NOT TAKE OFFENCE*****

all i know is the next time i marry i'm going to Monaco and going to the bacrat tables and finding me the oldest and riches one there for my next spouse....a paper bag will be just fine to cover up any face...

Post a picture of you and I tell you if you have a shot or in other words, which face needs to be covered...

BTW, first time filing - but at age 30, not a great accomplishment..

[Exployer1234]

Well I hate to admit this, but it is my second time around. I filed about 12 yeras ago with my ex-husband. Long story short he opened a business and it did not do well. we had personal debts tied into the business and we ended up having to file. I rebuilt my credit, and then the economy tanked and I lost my job, because the company closed.

I have learned my lesson: never buy a car that has a payment over 400 dollars a month, never have an operation unless you have a way of paying the payments, and keep all credit cards paid off.

Sometimes the operation is something people can't control, but I have learned that if I type the word indigent by my name. This changes the legal recourse the hospital has on collecting payments and the amount the hospital can charge me. Also I have learned of programs that are offered for those in need.

Secondly on the car issue. If you have a car payment over 400 dollars then it can be difficult to make that monthly payment if you lose your job and have to take a low income job. I will save the money up for the car and put 50% down on the car itself and finance the remaining balance if needed. That way I can try and keep my payments around 250. If you have to take a low paying job then 250 is a lot easier to come up with then the 400 + in payments. You can find some great deals on used cars that are around 10K or even less that has low miles. I will not let myself get caught up with the huge car payment again.

If I ever decide to get another credit card I will make sure that I pay the darn thing off every month. There is no if, ands, or buts about this situation. Basically I should view the credit card as money I have on hand. If I don't have the money on hand then I will not be able to pay the bill.

No matter how much the economy sucks after BK you have to become very careful on how you manage your money. This being my second time around I don't want to go for a third time in my life. So as much as I wanted to think I was doing great, when I lost my job, things went from great to worse very fast.

[doni49]

Unfortunately, it's the second time here too. First time was back in '96. I had already been having trouble making ends meet and went for a consultation with CCCS. They advised me that there was nothing they could do as my debts were to high--then I lost my job.

After that, I rebuilt my credit without learning to do anything different. (young and stupid)

Fast forward to 2009. I had been making my payments and was current on everything. Then in December, I lost my job of 13+ years. It's now looking as though I'll have to take a minimum wage job which pays less than a third of what my old job did.

I had a session with the local CCCS office in July and was told that if I take a minimum wage, full-time job, I'd still well short of being able to meet any kind of payment plan she could arrange. And that's with me living with family almost rent free.

[Beachlover2]

1st time for us-3 years ago we moved from our previous home to another home, our previous home had not sold until 2009, 2 years of trying to do "the right thing". When the previous home finally sold, the fall of 2009, I was laid off from my previous employer. Found another job shortly after, but making ALOT less money. There is only so much to go around. Have not used credit cards in over 2 years when they the co's closed our accounts because of the debt to income ratio with having to 2 houses. Don't miss them, they are to easy to use when you are short on cash. We will establish credit another way.

[outsidetool]

1987 Ch. 7 filed. 1997 Ch 13, converted to Ch. 7. 1998 another Ch 13 filing to head off IRS; allowed that one to dismiss once IRS issue was worked out. 2008 Ch 7. I'm hoping in the end that I'll be one of those stories like "yeah, look he's rich now, but he filed BK like 4 times." Bad marriages, job issues, medical issues...and some just plain dumb choices. Things are looking up right now....

[cantbreathe]

Wow! This forum really opens my mind. I am a first timer and hope DH and I learn from our part in getting to this place. Economy and medical expenses are a major part of our decline but lack of setting up and living on a budget is also a big part for us. Our good credit has tanked, we are losing our home, and my physical and mental health continue to decline. We haven't even had our 341 yet and the Drs are already suspecting worse for me. Yet we have already been sued by one creditor and cannot afford for DH to get garnished at his new, much lower rate of pay. Thank God for BK court and the opportunity for a fresh start but I can see where a person could end up here again. We can no longer afford my life insurance on top of everything else. I am tired.

[andy158]

No matter how much the economy sucks after BK you have to become very careful on how you manage your money. This being my second time around I don't want to go for a third time in my life. So as much as I wanted to think I was doing great, when I lost my job, things went from great to worse very fast.

This is our first time around. Not knocking the bk7 filers, but being in a bk13 for only over a year has schooled us tremendously on being money wise. Bk7 is over and done with in as short as 3-4 months. Its seems easy to fall back into the credit trap when everything blows over. I watched my parents do it twice. I just hope and pray we can make it to the end and put it all behind us! This forum is great therapy!

[jimstocks]

This is our first time around. Not knocking the bk7 filers, but being in a bk13 for only over a year has schooled us tremendously on being money wise. Bk7 is over and done with in as short as 3-4 months. Its seems easy to fall back into the credit trap when everything blows over. I watched my parents do it twice. I just hope and pray we can make it to the end and put it all behind us! This forum is great therapy!

yes indeed