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Yep

Yes I am, we are in debt.  We own our house and no one can take that away from us but right now money is tight and we are falling further and further behind.  We both pay child support and my child support takes about 60% of all my checks.  We pay what we can on the bills but every month they just keep getting higher and higher since we could not pay all of it and are falling behind.  We are really trying here and really struggling.  Sometimes I get tired of living paycheck to paycheck but right now that is just life.  It seems like I am in a dark tunnel and I cannot see the light.  It feels like I am just sinking deeper and deeper. 
rondat rondat 41-45, F 5 Responses Jan 15, 2008

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We are still hanging in here. That is one thing I am glad about though the credit card I have is my bank atm card so it only has on it what is in the bank at the moment. We took the over draft off of it too. That overdraft can hurt. They give you a 200 dollar limit to be able to go over what you have in the bank but if you go over they charge you 20 dollars each time you use the card when it is in overdraft and that can get very expensive. We have also learned to stay away from those quick loans. We fell into that trap too for a while. We finally paid all those off and they kept calling and asking if we would like another loan. Those people are rip offs. You borrow 100 dollars and pay back double for what you borrowed from them. When we were in Fort Hood we watched a lot of soldiers fall into that trap. Yeah it is quick and easy money but by the time you get the loan from them you won't have a paycheck when payday comes around. We are still struggling here but at least I have a job. Being a truck driver right now is rough and the freight is slow but I have a small paycheck coming in every Friday that keeps us fed.

Bankruptcy is never an easy way out. People don't realize the impact it has emotionally and financially. I filed five years ago and things are better now - but don't let anyone convince you it is easy. Just hang in there and tackle your credit card debt first. Credit card debt is the largest unsecured debt most people claim when they file. There's a reason for that - it is almost impossible to recover from once it gets too high. If you have credit card debt on more than one card and pay off a card destroy it so you won't be tempted. There is always some emergency or the like that makes you think you need the card. It is amazing how one manages if they can't rely on credit. Also lower your limits as you pay off your cards, so when you go to buy something and your card is rejected you can stop and ask yourself "do I really need this anyway?" It's an embarrassing way to correct yourself but most effective.<br />
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Because of the bankruptcy, I can't qualify for a regular card but do have a "secured" Visa. This is a card where we give them a deposit to begin with and that becomes our limit. They give us a tiny amount of interest on our money held in trust and charge huge interest to us for the priviledge of spending our own money, oh and a monthly fee (seems a fair arrangement - ha). But I like this arrangement because we never really owe them anything. If we cancelled the card the debt would be gone but we do have the ability to make hotel and car reservations and pay somethings that require a credit card to purchase. Like it or not we live in a socielty that requires credit cards. "Livinrite" is right about it being more difficult to establish yourself after bankruptcy - my husband and I are still working on it. Avoid it if you can but don't beat yourself up over it either if that's the direction you are forced to take (notice I say forced - It must be your last resort). There is a light at the end of the tunnel - it's just that some tunnels are longer than others! Hang in there and Good Luck!

I've heard that many people come out better after bankruptcy - I found that it took forever to re-establish. I couldn't even rent an apartment and even found that some jobs wouldn't hire me. It was nuts for about 10 years after.

Thank you for your comment. I came back to truck driving and things are starting to look a little better. We talked to a lawyer about filing bankruptcy and were told if we were not 10,000 or more in the hole it would not be a good idea to file so we did'nt. I am glad we did'nt. My real father filed bankruptcy and it seemed like he came out of it better then when he was before.

been there, done that. It's hard and discouraging. I finally filed bankruptcy because I was sooo tired of abusive collectors calling me at all hours, and whatever I sent was never enough. I don't recommend bankruptcy unless you have at least $20k in debt - however something that helped me after that time period was to get rid of the credit cards. Don't spend $ that you don't already have because things don't always go as planned and you end up w/more debt. Also helps to take your highest interest bill (or highest balance) and focus on paying it completely off. Do that one by one till they're gone and don't let it start again. I know it's really hard to see the forest for the trees sometimes so take one thing at at time. Good luck!