So Glad I Found This Site

Hello everyone,

I just joined the site and want to say that reading everyone elses stories really makes me feel better about bankruptcy.

I was relieved to see to my feelings are not abnormal (feeling scared and like a loser) and that I am not alone. It is bad enough I am not able to get a job right now because of the economy but now I have to do this too. Ugh! It feels like the torture will not end sometimes.

I am in the planning stages of filing for bankruptcy. I have the name of a lawyer referred to me by a friend and I will be calling to make an appointment.

After reading some of the stories here I don't feel as bad about my debt. I owe around $30,000 (all credit card) and I am unemployed and I have no idea when I will be getting a job.  My money in my checking account is running out fast because my minimums are so high. (it doesn't help that my rates were raised this year even though I never paid late - stupid citibank). My 401K is now gone daddy gone.

I have always had really good credit score too so this is going to kill that. It is weird that I was doing so well a few years ago - really good paying job, getting my bills paid down - and than I got laid off and it has been going down hill ever since.

But I am trying to look at the good side of this - not having to worry about those bills every month will be like a 100 pound weight taken off my chest. It might be nice to just try to live off of cash for a while. I know I can get credit again after this but maybe I won't want it anymore after not having it for a while. It took me 20 years but I now finally realize how evil credit card companies are. I wish I had figured it out sooner!

Right now, I am worried about some things I am reading online about 'rules' about what you should do and not do when you are getting ready to file for bankruptcy. 

I read that you should not use your credit cards after you contact a lawyer because it can be used against you in the decisions. Is that true?

Are employers really looking at my credit report? If this is true I am now wondering if this is why I didn't get the last several jobs I interviewed for even though I was very qualified and went in for many interviews- could they have really looked and saw how much money I owed and said forget it? I am worried that if it shows Bankrupt on my report and I may never get a job afterwords.

I am guessing the lawyer can answer all these questions. But I am also wondering about the timing here. I want to make sure I have enough cash to pay the fees and lawyers -any idea of a range of $ I should make sure I have left? Is there such a thing as filing too soon? I have around $4,500 left to my name.

I read too that you should stop paying your bills once you contact the lawyer - I guess this makes sense. Is this true?

I want to thank everyone for putting their stories for me to read. It is really very helpful and I am glad to have somewhere to come to for answers and support.

Good luck to everyone.

 

 

 

 

 

 

 

queenfluff queenfluff
36-40, F
1 Response Mar 23, 2009

We are in a similar situation and have the same questions. <br />
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My husband has been unemployed for almost a year, we are upside down on our home and have a hefty chunk of credit card debt (95% of which was from a failed ebay business). We've never missed or been late for a single payment and are very rapidly reaching the tipping point where we will not be able to keep that up. We've been to see a financial advisor that suggested strongly that we file for bankruptcy and "start over with a clean slate." It sounds so tempting like that and my opinion is that as long as we are together as a family, nothing else matters.