I am happy to post that we get ZERO calls from creditors or collection agencies. The threatening letters also stopped immediately too. Just going to my P.O. Box to get the mail would leave my stomach in knots-now I don’t cringe at the thought of going there. It already feels like a huge weight has been lifted off my shoulders.
The only mail that comes now is our normal bills and solicitations from companies that offer the required bankruptcy credit counseling course. The letters look official too with our case #’s on there and everything. I almost fell for one. That made me realize-our bankruptcy is public information and it’s out there now. I knew it would be but I just don’t like it. I also don’t like the fact our names need to go in the newspaper too. Our names are very common BUT they had to put my maiden name on the paperwork as a Formerly Known As (FKA). My maiden name is unique so I just hope not too many people see it. I know the owner of my company reads that section all the time.
You know what-screw it! If they see it they see it. I can’t worry about what I can’t change. We are learning from our mistakes. I mean geese-look at the economy. Look at what is going on in the world today. My bankruptcy is a big deal to us but so small compared to what is going on with so many other families. Do I want to be in this position ever again? NO WAY, but I know what I have gained from this experience. I guess that is why they say wisdom comes with age. By the time I am 33 (later this year), besides suffering many personal losses and hardships, I will have gone through almost every bad financial hurdle there is out there. The way I look at it is-I can only go up from here!
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Tags: Bankruptcy, Collection agency, Credit counseling, Creditor, Debt, Personal finance
I also live in South Florida and have been reading your blogs. It is not an easy decision to make (claiming bankruptcy). I have tossed it around for a few months now and after reading your story I believe I have the courage to go thru it! Now to find a lawyer and take that first step!!
Hiya neighbor!
No, it is definitely not an easy decision. I know we struggled with it for a while. We weighed the pros and cons and with the amount we owe and our money situation-this was the best option for us.
The stigma of filing BK was one thing that held us back. I think that is a bad thing because that stigma is what keeps people that truly need to file bankruptcy from filing. I am no way an advocate for going out and just filing BK to get out of paying off debt BUT for some people, it is the best option.
It wasn’t my first choice to file bankruptcy. I really wanted to settle my debt. But with our financial circumstances-it would have been impossible.
Honestly, I picked my lawyer out of the phone book. They turned out to be great. They are in Ft. Lauderdale and offer payment plans. There are so many in this area. Get a few free consultations. We just jumped on the first one we went to because we liked the attorney we met with-he was very honest and upfront with us. As far as costs though to give you some figures, we paid $1900 for everything which includes the court costs and the 2 credit counseling courses and of course all the “fee’s” involved. You might find it cheaper but I would pay no more if you are filing Chapter 7. I think we are paying a little more because we have so many creditors.
A few months ago after becoming more familiar with the bankruptcy laws, I figured out how to file on our own but I decided to stick with an attorney. I want this done right and I don’t feel 100% comfortable filing on my own yet. Besides, you save money but not that much. Plus, getting an experienced attorney makes me feel more confident that it will be done right. Unfortunately, filing BK is a big deal and will be sticking around with me for a while so I want to make sure it goes smoothly.
Let me know how it goes or if you have any questions. Obviously I am no expert but if I can help, I will!
P.S.
Just curious-have you looked into debt settlement?
I’m glad the debt collector calls have stopped, they really do make life hell at times. and the name in the paper, it’s just a 3 day wonder, next week it will be someone else’s name.
Louise-that is exactly what I say!
Thanks again for being so kind and helpful. No I have not looked into debt settlement. I guess I should and could! lol It all takes such a lot of time but I have to look into all my options. I don’t really care about the stigma anymore LOL – I am a senior citizen and own my own place but of course have a mortgage. And Association fees which are killing me. But so far as long as I work I am okay with that. I really do not want to sell right now ( have tried twice in the past) because I want to make sure I move to the right place. Even apartments are very high. My job is closeby so that is also a consideration. My daughter lives in Coconut Creek but may be moving to Loxahatchee. I thought for now I should probably just hang in there and stay here until I cannot work anymore and then maybe move closer to her. So many decisions that your mind becomes really clouded with all kinds of thoughts! lOL However I am thankful that I still can research and sort things out – it helps with the old brain cells! LOL
So far I am current on my credit card bills but in order to pay them I keep taking money out of my IRA which I KNOW I SHOULD NOT BE DOING.
I will check into debt settlement this weekend – but I think that is expensive too. I did figure a lawyer would cost about 2,000 at the most but that is nothing compared to the CC I owe and the rotten cc companies raise rates even though I am current. So that makes it easier for me because they are a bunch of ………. well you know what!! LOL
Thanks again and I really really do love reading your thoughts and progress in this whole thing.
To be honest the only thing that really scares me is going to court! LOL But my daughter is a courtt reporter and she will go with me. And no, she knows no bankruptcy lawyers! Sad, but true!!!
To be continued I am sure!!
Hey! Wow, so much good news for you, your hubby’s job, the bk and no more calls, things are really starting to look up for your family, and I agree, walking 2 miles for your daughter is not bad, actually it’s a good way to get in some exercise each day! By the time your 33 your life will be back on track!
Lois,
I know exactly what you are going through with the association fees! That is what drove us out of our townhouse. The assessments after Wilma were insane! It made it very hard to sell a few years ago because of the fees-I can only imagine now! I would stay in the condo while you can until things get better. Renting is no joy here. I am paying $1400 a month for aggravation where I live although I am looking around and rent has actually gone down in the past few months. It is also a plus you live close to work. I do the east-west traffic everyday—the pits.
Your daughter will love Loxahatchee. It is so quiet there! We had family that use to live there. When my oldest daughter graduates-we want to go North too. Not sure where though.
These credit card companies are just not fair. That is what started the whole fiasco with us. When we were going through the short sale with the house-we had to stop paying our mortgage but we stayed current on all of our credit cards. They still hiked our rates to 29%! It was crazy.
Depending on how much you owe-you may have a lot of options. I know a lot of people will probably not agree with me but I personally wouldn’t take out of my IRA or retirement savings to pay off these creditors. Especially since you are already close to retiring. You will need that money when you retire.
Bankruptcy doesn’t have to be the only option though if you aren’t in too deep. I have a few blogs that I love listed on the right of this blog and a link to an awesome website. You may know about it already. If not, you may want to start researching there. There is a ton of info there and you don’t even need to register if you don’t want to. Between the few blogs, and that site-you will have a world of info to go over and motivation!
Oh and if you don’t read Dave Ramsey-you may want to. There is even more motivation! I wish you the best in anything you decide and please keep me posted!
As for the court date, mine is in a few weeks. I am naturally always nervous but I was told it will be very brief especially if no creditors show up. I hope not! I will let you know how it goes.
Have a great weekend!
Thanks so much once again – I feel I have a friend who understands now! LOL
And I know you do.
I have gone to the website I believe you are referring to and have read all the comments and as far as I can see, most have had horror experiences with debt settlement. Trust me, I have researched a lot also until I almost want to throw up. So much information but……. I think a bankruptcy lawyer can probably steer me in the right direction. As I said, I do not really care anymore about my credit rating. It has always been excellent and I do not plan to buy anything anymore where I do need a great credit score. Living alone I really do not want to own again – too much pressure having to figure out how to fix things. And my car is a 2000 so that is no problem and if I have to buy another one probably will be cash but I plan on keeping this one as long as I possibly can.
I will check out Dave Ramsey – as I have been checking out sooooooooo much info that my mind is overloaded. I know I just have to relax and do what I have to do.
I have read and reread articles about taking money out of IRA for bills and believe it or not, most people say DO NOT DO IT. Even one bankrupty lawyer said that on this website. So I feel I am at least headed in the right direction.
I have about 35,000 in debt I would say but I make a very low salary – LOL – hey this is Florida and my social security has not really kicked in yet full blast because I am still working. Took it early which probably was a mistake and they make mistakes also. Got a letter last year telling me they overpaid me 5,000. and I had to pay it back. Unreal! So down to SS I went and had to get that straightened out. So now they take $ out of my check every month to pay it back. And I do not get a check every month because I am not at “full retirement”age which is 66 and that will happen in September. All of this crap in plain English is very frustrating! But I try to remain positive and I know something good will come out of all this rotten mess.
A friend of my daughter claimed bankruptcy last year and she seems to be fine – had way more debt than me also. She used a woman lawyer which is a bit appealing to me also! LOL
I just have to take the next step and make a call and find out more from a lawyer which I will do and very soon.
I am sure you will be fine when you go to court. Hey people do it every day and we are entitled to it so…….I wish you the best also and hopefully it will be a fresh start for you and your family.
I am sooooooooo glad I found your website – just feels better to be able to talk to someone who understands.
PS Not too worried about creditors calling cause I now have MAGIC JACK and they do not have that number. Of course they can call work, but I will just inform them I am not allowed to receive these calls at work.
Have a great Sunday and thanks again!!!
Geese, I tell you to look at the site and I go over there and read nothing but horror stories about people being screwed over by debt settlement companies! Sorry. That is usually not the norm. I guess all these companies come out of the woodwork to prey on people when they are in need.
You sound like you really have thought everything through-get a free consultation with a lawyer (how about the one your daughters friend used)and see where you stand. You are thinking like me. I do not want any more credit. When I buy another car-it will be cash. I am sure I will probably have to pay a little more or give deposits for people with “bad credit” for certain things but I will deal with that when the time comes. I mean, in these times-how many people have perfect credit anymore?
Don’t think about it too long though if it is causing you financial stress. I know I did and now looking back-it was not worth it. You are retiring soon. Enjoy your retirement without all this stress!
What I did when I was current was change all my work #’s to my cell # and I never got a call at work. They will hound you at work even if you tell them not to call. A coworker of mine is having this problem. Eventually you can send them a “cease and desist letter” to stop the calls. I let them call my cell # and go straight to voice mail.
You really had some issues with your money. I never see anyone get overpaid and then get the money taken back!
Well, off to the park. Happy Sunday to you as well!
Hey Jai! I just seen your comment in the books I have been writing here! lol See what happens when hubby works overnight? I am just a chatter box! My daughter is lazy! Somehow she has managed to find a ride to school on the days he works. It is amazing how these kids get motivated when they don’t want to do something.
Thanks again and yes I have investigated all the options to the point that I have “overload”. For me bankruptcy is the way – I just want it over with! And I will see a lawyer soon – no one needs the stress. Bad things happen to good people and I guess I would feel worse about it except that the government is bailing out the wrong people or at least that is how it seems to me.
The issue with SS is because I am still working so they hold back the first few months and it was THEIR MISTAKE – but….. guess who has to pay the price? LOL
Trust me I have tried a lot of things including a reverse mortgage but…. the home values have gone down so much that I was short about 22,000 so that was not working for me either.
You definitely are doing the right thing – for sure and hopefully the new fresh start will be coming soon for both of us!!!!
Again I really enjoy your blog – it is very refreshing to me to hear someone tell their story and to be so honest about it.
Just wanted to let you know, I have my first appointment with a woman BK attorney tomorrow. I think I have everything together and looking forward, like you, to putting all this behind me and starting over. I am up in Georgia and things may be different but I hope things go as smoothly for me as they seem to be going for you. When I asked about her fees she said it would depend on how involved my situation was and which BK I qualified for. I will let you know what I find out! Thanks for all your inspiration!
Lois-you hit the button right on the nose! My husband and I had were just talking about how backwards this whole bailout is!
You are right when you say bad things happen to good people. I think many of us are good people and need a fresh start.
Lara-I hope all goes well for you too tomorrow. I know you have done your research because I have seen ya here before. Having knowledge before you go into that appointment makes you feel more confident. I know I would have been lost if I hadn’t known some of this stuff.
I wish all the best to everyone. Please keep me updated on how it goes.
Well I have decided to go with the woman lawyer that my daughter’s girlfriend used. She has a website with a lot of info. My daughter called her friend today and she spoke very highly of her.
So now I have to gather the “stuff” I need to bring with me for the first visit. When I get my tax stuff back from my accountant in Jersey they I will make the appointment.
I am trying to be organized about this whole thing! lol – organized debt I guess you would call it.
However I do feel better since I made this decision and within a few weeks should be able to call her.
Lara I am sure things will go well with you. At least we know that we are not alone and that in itself helps me a lot!!!!
Just wanted to let ya’ll know it went well today. I am able to qualify for Chapter 7. I am filing alone, not my husband. I really liked dealing with a woman lawyer. It is going to be $1400, plus the counseling services. That includes all the fees, hers, courts, trustees,everything. I have half of it now. Am going to have to save up the rest. I am so afraid of being sued! But I am feeling really good about this whole thing. Being organized means alot, get all your stuff together. I actually had everything I needed today except the information from my tax assessor regarding my house and copies of my home owners insurance policy. So hopefully I will be a go in a few weeks. Wish me luck.
That’s great to hear Lara – you will feel sooooooooooo much better when it’s over and probably already feel good because at least it is in the works.
Good luck Lara
Lara-I know you feel a weight off your shoulders already just knowing that there will be a light at the end of the tunnel very soon! I know I did! Now the task of coming up with the $$$ to pay the lawyer off-oh how I remember those days!
Please keep me updated. I know things will go smoothly for you.
Lois-you are definitely not alone!
I finally made it over to your site and want to congratulate you for finally being able to file your bankruptcy; it has been a long haul for you and I was even more excited to see your husband found a job with benefits. Hopefully, things are going to head up from here for you and you family.
Best wishes,