I appreciate reading the posts from other people on the blog, like Jason’s. It sure helps to know that we are not alone in this dilemma, and that there are others who have recovered.
I’ve been going through a tailspin since last week and the facing of bankruptcy. I am still undecided what to do. I owe $45,000 USD, and am not behind on any payments. So I am wracking my brains trying to think of how to get out from under this.
I had not known that my exhusband was hiding money away, nor that he had taken out credit cards in his own name that he was using to purchase his alcohol and other “essentials.” Even though I didn’t have anything to do with that part of the debt, I know that I did contribute to the growth of it with the other usual things that we always charged, like vacations, etc. We never got into the habit of paying off the bill each month that it came. It was too easy to just pay a portion of the balance.
I do feel a moral obligation to pay it back, and that’s the thing that has been keeping me awake at night. I have a friend who said that filing for bankruptcy was the best thing she ever did, and the worst thing she ever did.
What I don’t understand is – Why do so many of the CC companies refuse to try to come to some payment agreement when you contact them in good faith to say that it’s either that or have to face getting nothing if I file for bankruptcy? You’d think that they would want to make some sort of attempt.
Anyhow, thank you for the responses to my posts and for the support that this list provides. You don’t know how it’s helped me get through some dark days.
Well for me I have always had excellent credit, but at the same have always been in debt. My wife doesnt work and I have 4 kids, so I tend to say yes when the wife and kids want stuff, but that doesnt happen anymore.
I am now 300K in debt including the house around 20k without, but I always include the house because I plan to be debt free in 7 years including the house. My deal was that I got laid off and quickly found out quckly having a job masks you potential short fallings.
Luckily I have had support and have not lost anything and I am on the road to recovery. I made the mistake many of us have in the past, I hadnt everything written down my financial info so really had no clue where I stood. This has now changed and will not be an issue anymore, nor will spending on stuff that I do not have the funds to pay for…
Although I owe 300k still my outlllok on paying it off is better then it ever has been, in my old mode of operation i would have continued to go into debt.
Beings I am now under new management my focus is 100% on total debt elimination. Good Luck to everyone and keep the story’s coming.