Bankruptcy Survivors

I work for an attorney and we have handled bankruptcies and some people have really pulled through with it. It depends on what chapter you are filing and what you need to file. Chapter 7 can really save your but if you have to, Chapter 13 is basically a reorganization of your finances with a plan to pay the monies back. I don't know if you are doing a personal bankruptcy or one for your business. All I can say is that it has helped people a lot, It really depends on the people and their situations.

I think a lot of it depends on the person and why they are filing in the first place and if they learned from it. My ex has filed 2 times so far. I am sure he would file again now if he could but is only 4 years passed his last BK so he has 3 years to go before he can file again. He hasn't learned a damn thing about money and responsibility. I had to file after our divorce just because of all the CC debt he put us in. (He was opening CCs without my knowledge as well as charging things up that I did know about. Long story but whatever...) Anyway, I know I wont let that happen to me again. I know how to use/not use credit. I have learned from the mistakes we made as a couple and will not make the same ones again. I am only a month past my discharge so I can't say I am "on top"... yet. But I am sure I will be there soon. It has really helped relieve a burden from me and now I can focus on the important stuff - supporting me and my kids.

When I was 25 years old, my husband died after a 2.5 year battle with leukemia. At the time of his death, we had a daughter who was just 2 months away from being 3 yrs old, and we had a 2 month-old daughter. I was left with medical debts of well over $100,000. Try as I might, there was just no way I could dig my way out from under that debt and make a living at the same time. I filed for bankruptcy. It was a life-saver. I'm not one to bail out on responsibilities. I was told by an attorney (from a free consultation) that filing for bankruptcy was much more responsible than letting the debts go into collections and ignoring the debtors. The good news is that rebuilding your credit is SO possible!

I am in the process of filing Chapter 13 due to a divorce and my ex maxing out alot of my credit cards and refusing to keep a job to pay them off. You need to talk to an attorney and they will *kitten* your situation and see which is better for you. Chapter 7 & Chapter 13 have good and bad things. Chapter 7 wipes away your debt so you do not have to pay it back, but you can also lose your cars or your house depending on how it works out. Chapter 13 you pay some of your debt back over the course of 3 - 5 years and then everything else you do not pay off is wiped away. To protect myself due to the divorce decree I opted for Chapter 13. I have been sitting on this issue for way to long and there has been no resolve. My credit will show the bankruptcy for 7 to 10 years but at least I can start rebuilding myself.

I saw someone said they had student loans....those cannot be claimed in bankruptcy.

What would stop someone from taking a bunch of cash advances on their credit cards, paying off their student loans, and then filing for bankruptcy?

if you cant pay something deliquent off in 7 years do it.. when i was 18 i was in the navy and got married.. dumb!!!! i went overseas she found a new boyfriend and since i had to sign a power of attorney for her to use my name while i was out of the country she racked up some ****.. a good couple dollars i will say.. now i got out of the navy after 6 years tried to pay all this stuff off but couldnt. it was impossible. but on the other note i could buy **** either.. couldnt get a house a good car nothing.. at 25 years old i was making more than the average income and still couldnt pull anything off through a bank.. so i filed.. it was a littrle embarrising at the time but i have owned it now and so glad that i did it.. 6 years later i have my own beautiful house, things i have always wanted.. and could not be happier,.. i dont worry who is calling when the phone rings, i dont worry about people calling my job anymore.. it is a stress free life..

buttttttt.. if you do it.. stick to it.. pay your **** on time, make smart choices. dont live outside your means and take out loans now that you can.. ive seen people come out on top and i have seen people back in the same situation in a few years.. i say do it.,. but it will be up to you how you come out in the end

Most of our debt is medical bills. We do not have insurance and it seemed like there was a point that we lived in a hospital we were both sick. And we were putting all of our money towards them so we maxed out our credit cards for gas and food and some selfish spending.

We knew we were irresponsible but we have changed and we just want to get all of the debt gone so we can start over.

i know now that I cant get rid of student debt but I do not have much of that and im sure we can pay monthly on those. I am still unemployed and my husbands job keeps cutting hours.

We have a free house technically. His mom left it to us and its paid off and she pays the bills for us. So we are very lucky on that end.

But with about 600 a month we cant pay every single monthly payment unless it is the minnimum and that is a big IF on paying that much. And that wont do much at all. We end up paying so much more in interest. ugh

We just want this burden off of us and our marriage!