Why bother

[Inthestorm]

Everyone says BK will be a relief. But we have no income coming in and very little to sustain us. If we are going to end up on the street anyway, (no relatives) why should we bother to file? We could exist a little longer on what we would pay the attorney.

[JackBondLove]

The beauty of BK is that it is a fresh start. So if you were to not file for BK now, you might get an income or some cash, and then the creditors could garnish that from you. By filing BK, it's like the past never happened (aside from having a bad credit history, which you would have irregardless.) Just recently, the federal government said I owed $3K from disaster assistance from before by BK filing. No problem - it's wiped away just like the other debts.

[keepsmiling]

OTOH it's entirely possible that now is not the best time to file.
I for one am waiting and hoping that our situation improves enough that we can afford an attorney and hopefully some medical insurance.

[despritfreya]

Why bother. . .? In a sense you are correct. If you have nothing there is nothing that can be taken. However, no one knows what the future might bring. You want to shed the debt while you are at the bottom of the bell curve, not as you are crawling your way to the top.

If this was a situation where you would never have anything that could be taken, thus would remain judgment proof (elderly folks with no non-exempt assets and on SS is a good example) then not filing makes sense. If you do not fit that mold, doing the bk sooner rather than later makes sense. You do not need to file "today" but you really want to get it over with before your economic situation improves too much.

And, there is no requirement that you hire an attny.

Des.

[CCM620]

I think it's all up to your individual circumstances. I have gone 2 years without filing, and am unsure if I will. My state laws make doing nothing about the same as filing (no wage garnishment, same exemptions for bk/judgements, judgements not renewable). So it depends on your situation and the laws of your state. If you have no assets to protect, then bk may not be right for you. The good thing is if you change your mind or your sitauation changes, the option is still there.

[HHM]

Bankruptcy is the cure to the disease of discouragement. If you allow yourself to languish in this state, you will never move forward.

You weren't ALWAYS in this position, but you have slowly drifted toward your current situation to the point that it seems almost normal, but in your heart, you know its not. Don't look outward, don't try to blame you or some external force, simply look inward and start believing that your life was not meant to be like this and then take action. Bankruptcy is how you start rebuilding, it is the positive step in the direction of improvement.

[tobee43]

please don't forget, there are atty's that actually take bk cases pro bono. i would try and find one of them via your legal aid and sit down and weigh out the pro's and con's of why or why not and what would be best for you and yours.

good luck!

[Inthestorm]

How on earth would one find an attorney to take a case bro bono???? I wouldn't have a clue where to look?

[mountanddo]

Bankruptcy is the cure to the disease of discouragement. If you allow yourself to languish in this state, you will never move forward.

I agree with this to some extent, however the OP has no income and has stated that they have very little to sustain themselves on. I don't think now is the time to be thinking about BK. The OP didn't mention if they had judgements or garnishments which would change things as if he found a job that could prove to be a swift way to seize money. Aside from that, I don't see an advantage to them filing now even if they could get an attorney to represent them pro bono. That being said, not enough information was posted to really see what they are facing and if/when BK would be beneficial to them.

[DebtEnder]

I understand the comments of climbing your way back, but if your not even been able to get off your back there is no point in doing BK right now. Sounds like your issue is not debt, but lack of income. BK will not fix this. However if you have alot of debt as well and find yourself employed then I would file soon as you get money coming in, before the creditors can you hit with a garnishment

[HHM]

I agree with this to some extent, however the OP has no income and has stated that they have very little to sustain themselves on. I don't think now is the time to be thinking about BK. The OP didn't mention if they had judgements or garnishments which would change things as if he found a job that could prove to be a swift way to seize money. Aside from that, I don't see an advantage to them filing now even if they could get an attorney to represent them pro bono. That being said, not enough information was posted to really see what they are facing and if/when BK would be beneficial to them.

You're sort of missing the point, my post is directed at the, often downplayed or not understood, psychological benefits of bankruptcy. It is the ONE thing the OP can do, that they have complete control over, to move in a positive direction. As for finding work etc, they cannot make someone hire them. But with bankruptcy, they can clean up their financial position. ALSO, don't forget about recovering from bankruptcy, the sooner you file, the sooner you rebuild, you don't have to wait until the emergency to file BK, it is better if you don't wait until the last minute.

Personally, I think the OP is probably over stating the dire-ness of the circumstances (go read some of the other posts) and really hasn't accepted the reality of their position (e.g. denial; not wanting an apartment because they "need" storage....if things were so bad, you would selling things left and right, etc). If things were really that bad, you probably wound't need an attorney, and clearly the person has internet access (granted maybe from a library, or free wife at starbucks; but no likely), so not likely the person is on verge of homelessness.

In any event, I am talking about the well understood idea of "accepting" your circumstances and then taking steps to improve those circumstances. What should often be the FIRST step, is bankruptcy (for financial problems, obviously) because it is the one thing you can choose today and you don't need anyone else to say yes. You just go file. You stop dreading getting your mail, you can start answering your phone, you have one less things (one less major thing) to worry about. I can practically guarantee that if the OP were to file BK, and got the relief, he or she would probably find a job really quickly because they can now focus. Right now, the OP is focused on the negative, is discouraged, and lost, who wants to hire such a person? Bankruptcy is how you can get back on the path.

[mountanddo]

You're sort of missing the point, my post is directed at the, often downplayed or not understood, psychological benefits of bankruptcy. It is the ONE thing the OP can do, that they have complete control over, to move in a positive direction. As for finding work etc, they cannot make someone hire them. But with bankruptcy, they can clean up their financial position. ALSO, don't forget about recovering from bankruptcy, the sooner you file, the sooner your rebuild, you don't have to wait until the emergency to file BK.

Personally, I think the OP is probably over stating the dire-ness of the circumstances (go read some of the other posts) and really hasn't accepted the reality of their position (e.g. denial; not wanting an apartment because they "need" storage....if things were so bad, you would selling things left and right, etc). If things were really that bad, you probably wound't need an attorney, and clearly the person has internet access (granted maybe from a library, or free wife at starbucks; but no likely), so not likely the person is on verge of homelessness.

In any event, I am talking about the well understood idea of "accepting" your circumstances and then taking steps to improve those circumstances. What should often be the FIRST step, is bankruptcy (for financial problems, obviously) because it is the one thing you can choose today and you don't need anyone else to say yes. You just go file. You stop dreading getting your mail, you can start answering your phone, you have one less things (one less major thing) to worry about. I can practically guarantee that if the OP where to file BK, and got the relief, he or she would probably find a job really quickly because they can now focus. Right now, the OP is focused on the negative, is discouraged, and lost, bankruptcy is how you can get back on the path.

Point made ...you are right I didn't go back and read the other posts. Anyone contemplating buying a farm no matter how small isn't really IMO in that dire of circumstances.

[Inthestorm]

Finding a job...in this economy...when one is not young...and has done the same thing for years (residential housing)...is admittedly, VERY, VERY tough. Yes, there are jobs out there. They are out there for those who are qualified...and preference is given to the younger applicants.

[Inthestorm]

BUYING a farm???

[HHM]

Finding a job...in this economy...when one is not young...and has done the same thing for years (residential housing)...is admittedly, VERY, VERY tough. Yes, there are jobs out there. They are out there for those who are qualified...and preference is given to the younger applicants.

Like I said, focused on the negative, looking outward, blaming others...BK may be the positive step you need to break you out of your funk.