I regret not having joined this forum or seeing if it existed back when we filed in April 2002. Other forums and boards existed but were (and still are) inhabited by long-term people on their soap boxes screaming fraud and stupidity. And they themsleves never filed; their purpose is to down and name call posters. Anyway, this forum is not like that - well monitored, many differing thoughts and experiences. Utilimately, the final opinion as to anyone and their finances is with their own attorney but this forum can keep people from making huge mistakes before they seek an attorney (i.e., keeping them from utilizing their 401(k) funds prior to filing because those funds are exempt if you file). Had we known that in 2001 we would not have utilized them to keep from eventually having to file. I think everyone does everything they can to avoid having to file but usually if you think you have to file you usually have to and the time does come.
I joined this forum just prior to receiving our discharge. My experience is successfully completing a 5 year Chapter 13 and the experience of being able to buy out early (at the 4 year mark) via refinancing with home equity. Our Plan was due to end April 2007 but we refinanced (finality of a 6 to 7 month ordeal to refinance) in April 2006. We also during that time purchased a brand new vehicle at 0% interest, 4 year loan and watched our credit scores rise rapidly since during our Plan we were not late witih anything and followed instructions and orders exactly, reported any extra income and an inheritance received, etc. We were also lucky to have an attorney who answered emails and phone calls and if not available had a fabulous paralegal always available to help or pass on questions.
The worst time for us was just prior to filing; having to deal with what do we do, all the phone calls and paperwork and the emotional roller coaster ride. I almost had a nervous breakdown trying to keep it together and stay normal in my busy job. And then we began to turn our lives around and start over and do things totally differant than in the past (lifesyle changes, eating out less, becoming budgeting masters, etc., etc.). We filed due to a major job loss of my husband from which he, to this day, has not recovered. It was a struggle to lose 70% of your income and not be able to replace it and without the safe haven of being able to file, we would have lost everything.
This forum allows one to give their experiences and also for new posters to read those experiences and find out what they can do to avoid problems or what to ask their attorney to also prevent problems. It's the best on the internet for anyone in bankruptcy, considering filing bankruptcy or after bankruptcy.
I joined this forum just prior to receiving our discharge. My experience is successfully completing a 5 year Chapter 13 and the experience of being able to buy out early (at the 4 year mark) via refinancing with home equity. Our Plan was due to end April 2007 but we refinanced (finality of a 6 to 7 month ordeal to refinance) in April 2006. We also during that time purchased a brand new vehicle at 0% interest, 4 year loan and watched our credit scores rise rapidly since during our Plan we were not late witih anything and followed instructions and orders exactly, reported any extra income and an inheritance received, etc. We were also lucky to have an attorney who answered emails and phone calls and if not available had a fabulous paralegal always available to help or pass on questions.
The worst time for us was just prior to filing; having to deal with what do we do, all the phone calls and paperwork and the emotional roller coaster ride. I almost had a nervous breakdown trying to keep it together and stay normal in my busy job. And then we began to turn our lives around and start over and do things totally differant than in the past (lifesyle changes, eating out less, becoming budgeting masters, etc., etc.). We filed due to a major job loss of my husband from which he, to this day, has not recovered. It was a struggle to lose 70% of your income and not be able to replace it and without the safe haven of being able to file, we would have lost everything.
This forum allows one to give their experiences and also for new posters to read those experiences and find out what they can do to avoid problems or what to ask their attorney to also prevent problems. It's the best on the internet for anyone in bankruptcy, considering filing bankruptcy or after bankruptcy.
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