At First I Was Horrified...but Now, 6 Mos Later, It's Great!

Not only do I live without the Credit Monster on my back, but life is truly less stressful when you live within your means.

We filed Ch7 because of a failed business (my HUSBAND'S dream). "One More Loan" was going to get us out of the hole, and it never did. We just got deeper & deeper into debt to the tune of $80k.

When he got cancer, he had to stop. Thank God.

Now he's better from the cancer, and the business is closed, and the credit is gone, and we're back to living normally. We don't have a lot, but we are fine. I am working, he's on disability (cancer), and we make enough to pay the bills, which is more than a lot of people in this economy. We are greatful!

If you are considering Ch7, feel free to ask me anything.

For me, it was the best decision ever!

Y'know that cramp in your stomach that won't go away when you owe EVERYONE? Well...it's gone now.

MidwestMelissa MidwestMelissa
41-45, F
6 Responses Feb 10, 2010

question, how did you rebuild your credit

Thinking of filing. Spoke to an atty yesterday. Husband passed away, left with little $, sold home at a loss, moved couldn't find job etc etc etc. Have been beating myself up for not making better decisions. Owe 40k in unsecured debt. Took $ from IRA (should have filed before that) to pay bills and now owe 23k taxes (I know it won't be discharged) Nothing left. Have been sick with worry and anxiety. Your message has given me hope!

I totally get that! I filed Ch. 7 as a result of a bad marriage, two ill children--my son is chronically ill--personal illness and a recent car accident.

My debt swelled up to more than $500,000 and most of this is medical debt. My son was hospitalized for a year and I got a bill for $450,000 and then I tried going to school but wasn't able to complete my studies because of the care my son requires. No credit card debt--was never able to get one after my divorce--and no mortgage and I felt sick. Literally. I mean, I used to get nauseous whenever the phone rang. I would avoid getting the mail and when I finally did, I would actually vomit over the stack of bills I had. I couldn't sleep at night because I was constantly up and making sure my car hadn't been repo'ed. Scared to leave my house for fear I would run into a creditor; I know that sounds irrational, but it makes you feel like there's a hit on you. I would tell anyone the worse four-letter word in the dictionary: debt.

I just filed a week ago and the clerks keep telling me to disclose everything so it can be included. I panic because my memory is really bad since my accident and I wonder if I forgot anything. I don't want my case dismissed because I forgot a few creditors. I admit it feels good not having to worry; the phone stopped ringing, the volume in mail has dropped and for the first time in five years I've been able to get some decent sleep. I might even be able to stop the anxiety medication.

Thank You for sharing. I have an appointment for a consultation on Tuesday with my lawyer. I feel as if I am smothering and the bills just keep multiplying. I hope I get good news Tuesday.

I live in California and my husband and I are considering filing. I just dont know where to start. Everything on line doesn't seem trustworthy with all the lawyer talk. Can you tell me who/where to start? aelam217@gmail.com

congrats! I am in the middle of filing and I have a direct deposit at a credit union where I also have a credit card. If I just canceled the DD, should I not be concerned about paying the CC? I was told that they freeze your account, but I will be delinquent on the account for the first time but the filing starts the first of June....Hopefully I wont have any problems, also did you have any problems finding a bank in bankruptcy...is it true to stay away from credit unions? Thanks!!