Bankruptcy

Question

Heading that way.....as anyone here on Cover been there?

Did you got over it well? How'd'ya lived it down the stretch?

I don't feel great about it, feels like I let everybody down and my wife is ok with the fact we're calling bankruptcy....

georugby · Answer

Heading that way.....as anyone here on Cover been there?

Did you got over it well? How'd'ya lived it down the stretch?

I don't feel great about it, feels like I let everybody down and my wife is ok with the fact we're calling bankruptcy....

jordi · Answer

no i havent but a mate has done this and just lives in a cash world but he is a taxi driver so he dont need the banks, who are c u nts btw, this a lot more people will be going down same road

vive la revoloution

jordi · Answer

it wont before these banks go to the wall anyway,the next round of christmas bonus are going to pay out close to 1 billion pounds in england, people are going to go mad

another intresting fact, only 147 multi national company own all the worlds companys--FACT- no wonder we are all getting shafted

jordi · Answer

another good thing is you can tell the bank that they are a bunch of c u nex tuesdays and to tell them to go an fork themselves

Bling · Answer

I don&#x27;t think the banks are the reason he is going bankrupt.  may have something to do with gamblin.  What are you revolutionizing about?  Somebody gambling beyond their means and having to go bankrupt

jordi · Answer

wake up and smell the coffee

pezeveng · Answer

Its not a big deal I know someone that did it and 2 years later they have more credit than me.

Whatever bank or card you screwed just move on to the next one. Capital 1 gives everyone credit but they screw you on interest. Its not that big of a deal and think of it this way you are debt free which is better than most.

georugby · Answer

It&#x27;s not gamblin related, I can assure you.  Wifey lost her job, I had to change job too during the year.....bad situation, bad credit, bad everything....

TheGoldenGoose · Answer

Never been there, but I can tell you you're thinking about it the wrong way. Bankruptcy is a business decision and nothing more. If anybody is making you feel guilty, then a great big FUCK'em should be headed their way.

It's your business decision and you do what's best for you and your family.

GL

Trinitiyy · Answer

its a messy system

jerseykingpin · Answer

Times are hard these days good luck  Get a good lawyer that will take time payments or if your a carpenter or another trade see if he will barter ect . I do alot of free or low price work for mine just in case I ever needed it

georugby · Answer

I took time to think and I&#x27;m looking it the way you just wrote it, as a buisness decision and things should be betters afterwards.Thanks!

lovesoccer · Answer

Good for you. File bankruptcy and fuck as many companies over as you can because companies have been fucking people over for years. I filed back in the mid 90's and it was one of the best things I ever did. I did a Chapter 13 and was done with the plan in about four years. I know the laws have changed a lot since then. Just make sure you get a good lawyer.

I remember my hearing was on the Tuesday of the baseball all star game. The hearing ended and I took my wife at the time out to lunch and then bet a bunch of props on the all star game and hit just about all of them. It turned out to be a great day.

416bet · Answer

[Quote: Originally Posted by lovesoccer] &#xD;&#xA;Good for you. File bankruptcy and fuck as many companies over as you can because companies have been fucking people over for years. I filed back in the mid 90&#x27;s and it was one of the best things I ever did. I did a Chapter 13 and was done with the plan in about four years. I know the laws have changed a lot since then. Just make sure you get a good lawyer.&#xD;&#xA;I remember my hearing was on the Tuesday of the baseball all star game. The hearing ended and I took my wife at the time out to lunch and then bet a bunch of props on the all star game and hit just about all of them. It turned out to be a great day.&#xD;&#xA;[/Quote]&#xD;&#xA;Love stories like that!

dro22 · Answer

I know someone close who did this, owed banks over a million they settled for 2k, make sure you run the CC up but don&#x27;t make large purchases and wait 90 days till you fill.

DynTastic · Answer

Been there brother, went through transition out of the Army, things fell apart for a bit financially and job-wise, divorce, whatever. Its not as bad as people will tell you. Get a good lawyer, totally agree with that. It's a new start, a chance to get a clean slate, and I'm glad I did it when I did. It's with you for a few years for sure, but it's not being damned to a life of cash anything hear it. It's freeing, more then anything.

I'd look at it as a new slate man. On the other hand, I was early 20's, so maybe I had less to lose at that point. I don't know your personal situation, but its a great financial tool for when things have not gone your way and you don't see the way out. Its a new road.

I'll say this, I made/make MUCH better financial decisions going forward. The totality of my finances have done a 180 since then, its been amazing.

That was 2005, and it was and is still one of the best decisions I ever made, in all honesty.

Good luck man. You're never the first and it's never that bad.

be easy · Answer

I filed chap 7 back in 2004I have had 3 vehicles with liens since then. I bought a house in 07. I have A tier credit now (between 710-760), which is better then most people i know. It is what it is, and is a very natural/necessary function of a Capitalist system. If only more people were as smart and as proactive as you, the economy wouldnt be drowning in so much debtSome advice, if you have a CC or LOC that is still open and in good standing, keep it that way. I dont think going bk kills all of your credit lines, just the ones you choose to purge. So if u have one in good standing, you should be able to use it to rebuild credit and for emergency moving forwardTheres not much room to be a good or shitty bk attorney. Shouldnt cost you much more then 1kI agree with the guy that said he learned his lesson and is much more atop their finances now. I can tell you my cash flows inside out, and you better believe i make sure theres more coming in then going out these days. I also filed as a 23 yr old, so i didnt have much to lose, except for the giant debt overhang i accrued from collegeI have posted about this many times here on covers, and a couple people PM&#39;d me for advice. Im no expert, but i dont mind trying to helpDont let any idiot brand you a leper, you are a smart capitalist.failure/bankriptcy is a necessary function of capitalism.Good luck

DynTastic · Answer

Agree with everything you said Easy, great advice.

In regards to the lawyer, you're absolutely right. Mine cost me about $500 or something like that. I guess what I was trying to say is to get a lawyer as opposed to not getting one at all.

I did a 7 as well, so not sure all the intricacies of an 11.

Hank55 · Answer

MY BROTHER FILED A CHAPTER 7 IN 1978. HIS CREDIT WAS RUINED FOR 10 YEARS. HE COULDN'T BUY ANYTHING, NO CAR, NO NOTHING. SORRY TO HEAR ABOUT YOUR SITUATION BUT SOMETIMES IT'S THE BEST WAY TO GO, DEPENDING ON YOUR AGE. IT'S BEST IF YOU ARE YOUNG SO YOU CAN START OVER.

slikstiks99 · Answer

It seems strange to file so young. Did you rack up some student loans and then not get a job immediately after school? Undoubtedly, the next economic clubbing will be student debt oriented.

MaineRoad · Answer

I have never met anyone who went bankrupt who hasn&#x27;t told me is was the best decision they ever made.  Most will add that they wish they had done it sooner.  I have no experience with it personally, but those I&#x27;ve met who&#x27;ve been through it sure seem to be fans.

HutchEmAll · Answer

Good for you. File bankruptcy and fuck as many companies over as you can because companies have been fucking people over for years. &#xD;&#xA;__________&#xD;&#xA;Yeah, and they just pass the cost on to the consumer.  &#xD;&#xA;If you gotta do it, you gotta do it.  But do it with a little dignity and at least try and be responsible about it.

Bankruptcy

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