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Well, I have a consultation with a lawyer tomorrow to go over my options. Long story short, I'm considering filing chapter 7. I have about 8000 in CC debt, two negative bank accounts from bounced PDL checks, and a 1500 personal loan, not to mention the eight payday loans that I have. I lost my job recently -- due to budget cuts, not creditor calls or anything.

What I want to know is this -- I feel really embarassed about having to file for BK. I don't want any of my family or friends to know. Will I be able to buy a car, buy a house, rent another apartment, or anything in the next seven years? Essentially, I'm looking for success stories. Was your life better after you filed BK. I know each lender is different, but were you able to get anything to help re-establish credit.

I'm really scared, especially since I am unemployed. But filing and the attorney fees are only gonna cost me about 1000 bucks (my atty charges 700 and the filing fee here in MO is 306). I'm collecting unemployment, so I will probably have to put down a retainer for my lawyer.

I was working with Town and Country, but when I make 290 a week in unemployment, and they want 100 of that, it gets hard to pay bills. I'm having a hard time paying rent (520), paying them, and paying my other bills.

Thoughts? Were you better off after BK?

Forgot, I also am worried about my car. I don't own it, it is paid off but it is in my dad's name. Can they take that? Will I need the title as proof that it isn't mine, because I don't want to get my family involved because I'm embarassed.

Sub: #1 posted on Wed, 10/10/2012 - 20:37

amgioia amgioia

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I filed bankrtupcy in 2004...I suffered a ruptured brain aneurysm in 2000 and then my husband lost his job due to the effects of 9/11. Lots of medical bills and credit card debt, mostly used while my husband looked for work. We struggled to keep our heads above water but eventually we had no choice.

Honestly, it was the best thing I could have ever done. The weight was lifted and it was a fresh start. I got credit card offers for subprimes after a year and got a prime card 5 years post bk. Car loan 2 years post bk 13% which i refi'd at 6.5 one year later. Generally you have to wait 2-3 years to get a half decent interest rate mortgage.

I now have 2 prime cards with zero balance. My one subprime I closed awhile back but I have a good payment history. I use them to buy gas a couple of times a month and immediately pay them off. I live now on a cash budget....I do NOT use the cards for anything other than gas. I have been broker than hell the past year dealing with 2 workers comp claims but was not even tempted to use them. 18 more months and my bankrutpcy drops off.

Nobody finds out under you tell them.....or they start snooping around the bk filing dockets. It is public information but unless someone specifically looks up your name, it is your secret. You are not branded as bankrutpcy filer....and dont be embarrassed. It happens...and you would probably be amazed at how many of your friends and family have already filed.

Sub: #2 posted on Wed, 10/10/2012 - 21:04

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