considering bankruptcy

[Dobie-BOY]

I can't begin to list the bad shit that has happened to me in the last two years. I have fought to the and I'm afraid the end is finally here. I see no other option but bankruptcy. Has anyone had any experience with this or got any advice. FUKK! I hate throwin in the towel, but I can't fight it anymore. The fuked up economy was the final straw. Thoughts, advice?

[DSM4Life]

[hellapimpin]

sorry to hear bro.....Start contracting overseas

[higherdesire]

Bro If you have to you have to. That is why it is there. Go 7 if you go. Hide any cash or investment accounts you have first. Slowly take out the money ever a couple of months so you can say you were trying to stay afloat with it. Keep it in travlers checks until after discharge. Your life will be much more settled once it is filed. It is there for a reason and they won't let you file if you don't qualify so if you do then it means you need it. Good luck bro.

[Kratos]

The new laws make it a lot harder to get out from under the debt.

a bankruptcy judge determines under which chapter of the bankruptcy code a person falls -- whether they have to repay some or all of their debt, depends what you make.

Gotta pay off your car at full value of the loan if you want to keep it.
Child support gets top priority.
You gotta go to credit counceling first.
a few other things, so you should talk to a bankrupcy lawyer...under the new laws they are held to a higher standard to be truthful to those wishing to declare.

[RuhlFreak55]

my parents did years ago.....better off now to be sure....

back then though we got to keep stuff....like the house....mom actually told me the other day they repossessed our F-150....i don't remember this...

[8iron]

Sucks, almost had to do it myself, hope everthing works out

[stangmatt06]

My parents did it, 10 years goes by and its no longer on your credit report. After filing bankruptcy it relieved so much stress that they were able to start over and are now very successful and both retired at age 50.

Think of it as a way to let go of the bad and bring on the new. Just make sure you learn from the things that caused you into such a financial bind.

Things will only get better my friend, hang in there and keep your head up!!!

[tyward]

I agree with the other posters. It usually takes away some of that really bad stress that's on your head. You can't get rid of most student debt or tax debt, but much of everything else. These are tough times, I'm supporting two families right now and I know it hurts them to take it, but the kids have to eat...Good luck in the future. T

[J431S]

I can't begin to list the bad shit that has happened to me in the last two years. I have fought to the and I'm afraid the end is finally here. I see no other option but bankruptcy. Has anyone had any experience with this or got any advice. FUKK! I hate throwin in the towel, but I can't fight it anymore. The fuked up economy was the final straw. Thoughts, advice?

Think long-term: if you considering buying a house or starting your own business in the next 4 to 7 yrs and might need a loan, then don't do it.

If u are not planning anything and your cashflow is seriously tight, bankruptcy can easily serve as a valve into your financial engine. better yet go for it.

Depending on current income streams and the size of your debt, you might wanna consider that first.

Good luck.

[chicmagnet]

my parents did years ago.....better off now to be sure....

back then though we got to keep stuff....like the house....mom actually told me the other day they repossessed our F-150....i don't remember this...

The bastards!!!


Sometimes you just gotta cut your losses learn by your mistakes and start again. No condemnation in trying and failing at least you tried and as long as you learned.

[firmechicano831]

Dont worry bro, You;ll be ok in the long run. I almost did it last year but barely made it, this year I;m doing much better.

[Dobie-BOY]

Thanks for all the advice. I'm on the verge, but I still got a few strings to pull. Yesterday was the first time I have considered it and I immediatelly felt a sense of relief and freedom. Shiit man, if I don't I still got a long fight ahead , I just feel like I'm giving up. I HATE THAT FEELING. But I hate the feeling of the constant stress too. Even if I could somehow barely get through eventually, I wonder if it isn't worth it just for the stress relief. I really appreciate everyones advice and support. REALLY!!

[hellapimpin]

bro...1year overseas contracting...you can pay 50k to 100k debt fairly easily...don't know all your troubles, that is your business..but if you want to avoid something like bankrupcy..and are willing to do what it takes...this type of work is a good option

[energizer bunny]

I can't begin to list the bad shit that has happened to me in the last two years. I have fought to the and I'm afraid the end is finally here. I see no other option but bankruptcy. Has anyone had any experience with this or got any advice. FUKK! I hate throwin in the towel, but I can't fight it anymore. The fuked up economy was the final straw. Thoughts, advice?

Alrite mate, what country are you from??

[RuhlFreak55]

The bastards!!!


Sometimes you just gotta cut your losses learn by your mistakes and start again. No condemnation in trying and failing at least you tried and as long as you learned.

it's ok....it was a 97....i never liked it....at least i think that's the one they repossessed....coulda been our older '95....i don't remember...i was LITTLE.....lol now we have F-350s and Excursions and enough broncos to start our own graveyard lolz

[Keenstyle1]

Join the Army for 2 years. Better than facing 10 years of bad credit. It's a great way to come out and start over.

[Kratos]

it's ok....it was a 97....i never liked it....at least i think that's the one they repossessed....coulda been our older '95....i don't remember...i was LITTLE.....lol now we have F-350s and Excursions and enough broncos to start our own graveyard lolz

and they can't afford your tuition

[Kratos]

the laws have changed it's not a get out of debt free card anymore
when you see the credit councelor you may see another option

[ni4ni]

[Voland]

A friend of mine here in Spain did some legal shit. I think it was bankrupcy. The fact is he was full of debts, he couldn't pay. So he went to jail some years (i belive it was 2 year and 7 months). The jail was a total joke. Most people there had commited "crimes" like fraud, IRS messing, bankrupcy etc. Each day in jail in spain counts as a worked day. So when he got out he had saved 100% of what he earned in 2,7 years, plus he had unemployement pay for some more month plus he was clear of debts and could start from scratch.

[ni4ni]

Join the Army for 2 years. Better than facing 10 years of bad credit. It's a great way to come out and start over.

now thats a thought- would the army pay off the debt?
I doubt it but you never know...they are just looking for more guys to sign up for Iraq.

[Dobie-BOY]

OH HELL YES! GREAT DOG!! Its a good thing they can't take my dobe's, they can have my house, my car, my motorcycle, but someone's gonna get hole's punched in em if they were to fuk with my dogs!-

-HELLAPIMPIN- wat do u mean contracting overseas?

I live in the U.S.A.

[ni4ni]

maybe someone thought you had a business where you could contract overseas-fuk, I dont know

[hellapimpin]

I'm overseas contracing for the Government...

Pay is Extremely good...
and most people don't do it for various reasons...
Risk involved of course...but hell, when its your time its your time..and anyways..MEdia blows the shit up way worse then it is..but that being said..it is still a reality and you can see some F'd up shiet

Another reason is people don't know how to go about it...Its usually through referrals..but not always..if your interested send me a PM.. and we can talk about some different paths you could go with hit...when i say pay is good..

Low end of scale is around 87,000k a year.. tax free.. while your doing this type of work, cost of living is as a cheap as you want it to be.. food is free..500 to 1000 is more then enough to get by here during a month.

And its not just here in Afghan..all over the world..but obviously in a warzone it pays better.

[hellapimpin]

bad police record won't necessarily screw you either...
Trust me on that..ive done my share of dumb shit over the years..
Alot of jobs you don't need a Secret or Top secret clearance off the bat either.
And most will put it in for you...Secret to start..depending on your background, could et it fast, or a year and half..depends on alot of things.


Felonys are a no no though..

[stangmatt06]

Another poster talked about using a BK as a way to get out of student loans, but student loans are one of the main loans that can NEVER be wiped off your plate. Student loans will stick around with you until you pay them off.


If you are at the point where you are using the Visa checks to pay off your mastercard balance and then using the amex to pay off the visa and so on and so forth, you should think about filing for the BK.


whatever you do, DO NOT call some stupid credit repair moron and pay him to negotiate your credit cards or mortgage loan. You can call up your own credit card companies and negotiate things with them directly. If you are going behind on a mortgage loan, it is worth a try to call the bank your loan is with and ask if they are willing to negotiate anything.

Bankruptcy is the easy way to relieve a lot of debt stress, but it will stay on your record for 10 years. If you already have several 30 day lates or 60-90 day lates, you can forget about getting a mortgage loan for a few years anyway.