Before you BK

Posted by Rick (64.12.96.205) on August 08, 2002 at 01:02:29:

In Reply to: Re: credit report questions re: sol posted by shannon from TX on August 07, 2002 at 17:55:43:

Shannon, I had to do a chapter 7 in 1992. There was just no way around it. I was being sued for something that was beyond my control but left me legally vulnerable. My lawyer said BK. Before you BK please read. That was the beginning of a long string of credit hell for me. I had some relief but in 95 my daughter became severely ill and I found myself about 35K in med debt with no insurance. The company I worked for lost a major contract and had a 60% layoff. I got another job but hadn't been long enough for insurance to kick in. I had no way out.
The collectors hounded me and I knew nothing of the laws. By trying to make payments I just fell into arrears on my other obligations. My marriage suffered as did my relationships with other people. I felt helpless and could see no end. I sold my house caught up a little and moved from a nice house to an old trailer house. I drove old cars. My car loans were always high risk so my old car payments were higher than my friends new car payments. I felt ashamed and isolated cause I didn't want anyone to know my situation and never talked about it. That is the beauty of this board.
I can ask questions from people who understand just what I've been through cause they have been here too. There is real wisdom here and good people who freely share it. Right now is the first time in over ten years that I can see the light. By listening to Linda, Why Chat, Observer, and others I have straightened out many problems wit my credit and am still plugging away at the rest. But I feel stronger and more motivated. Mostly because I'm starting to understand how it works. BK cost me a lot in interest for a long time and left me with no way out when disaster struck. If I had known some of the things I am learning now the last ten or so years would have been a lot less stressful. I'm not saying there is not a time and place for BK, there is. But ask your questions and listen to the knowledgable people here and make educated decisions after lookng at your options. Be aware of the possible consequences of your choices and then charge ahead. Sorry, I tend to be long winded. Good Luck and God Bless!

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