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Several people that I know who've filed seemlingly haven't been very affected...they still are living beyond their income, still have credit cards and it doesn't seem like much has changed for them, other than their debt was wiped clean and they got to start over.
I am updating this thread since I last posted because I HAD to go away for my job.
Katy-I have the utmost respect for you and please don't take this the wrong way-but I am not and never was or will be a cop-out to anything. I posted here for help-to stay out of bankruptcy-to get any help possible to prevent it. I do not qualify for chapter 7 which would wipe out all debts. I qualify -maybe-for 13. I went to the bankruptcy attorney today and they tried to talk me out of trying for 13 because I would have to repay alot of debt. they wanted to check chapter 7 first. I said no! I said I would repay everything we bought and charged-I just needed help with a plan to do so. We are good kind people that have always lent a hand to anyone who asked for it-no questions asked. We had 1 property ( house) that we lived in for 7 years-very affordable and very within our means-no bills-no CC bills of any extreme. Things were good. The house we have now was offered to us before it hit the market-It was right next door to my inlaws and DH thought it was the house that ended all houses in love-he missjudged our debt load and thought because his business was doing so well we could afford it-I said no. Dh made an offer anyway -not thinking it would stick but it did-but at the same time we were having problems. Thinking the new house would be teh answer to "OUR" problems-within 6 months we seperated. The house we "HAD and could afford" was rented out on a land contract and paid for itself-taxes and all-so that was not a debt for the time being. I rented a house for year-while seperated-bought that house to prevent it from being sold out from under my girls who were still suffering from the seperation-I owed them as much peace as possible even if it meant taking on a tighter budget-which I could afford. Mind you when I left my DH with the new house-which did not have my name on it-I left him with no CC debt just his business debts and his personal debts( not much) I took my CC and student load debts with me. I was paying them off. Dh had a horrific time trying to balance everything because I always did the finances-he couldnt do it. Slowly used credit to help pay expenses. We decided to work things out-combine all debts again and pay them off. Well the land contract fell threw-they up and left and destroyed a large portion of the facial structures of the house-we had to spend alot of $ just to get it in rentable shape-especially since the real estate market bottomed out. We've had it on the market for over 2 years now and nothing-we eventually rented it out again but that was after 9 months of paying two mortgages now-I rented my house out as soon as I could-because of moving back in with DH-but that took 4 months-we couldnt sell that either-weve been trying -those months of not having income off the properties wiped out every penny we had and thus began the downward spiral to survive off of not much compaired to what we were used to. It has been 2 years-we are still floating barely-WE HAVE NOT USED ! SINGLE CC IN 2 YEARS-We quit smoking-we have paid off some bills-and by the grace of God DH and I have managed to keep our heads together and stay together -my children are happy-yet they go without alot of things now-
Now the Cabin... Katy it is beautiful-you would love it and you are welcome to come and stay anytime you would like to visit the adirondacks-I would be happy to show you our small town...The cabin is in our BACKYARD on our property-it came with the house-it was in shambles but we knew it would help pay bills eventually-we worked at rebuilding it with recycled materials that were to be thrown away from DH's jobs. It took a 4 years but we finally finished it. We took alot from our own house and put in there. Tv-kids DVD's-games-carpets-dishwahser-garage sale items I spent 2 years collecting for. Yes we spent our own $ too to fix it up-freinds and family gave us things they no longer needed-We did it to be able to pay off debts as fast as we could. It COST us blood sweat and tears-but it was done with good intentions and will hopefully offset our mortgage payments to this one house we pray we will be able to keep through this mess. Oh and My house that I bought???? I offered to the single lady with children who is renting it -for less than what I owe on it-to help her and be rid of it-shes thinking about it-she literally would just have to agree to take over my payments legally! all I want is to be rid of it. We have sold everything we own to pay things off-a older camper-my husbands old car he was rebuilding for 10 years-a boat we owned for 6 years-canoes-his grandfathers snowmobile-tools-furniture..antiques that were handed down to us-you name it is GONE!!!!anything that meant freedom and luxury that we worked hard for is gone everything except my chickens! Im even doing some of that though to make my flock smaller before winter...Dh knows that -those birds are the only thing that has helped me mentally keep it together through all of this-and if you want to critisize me for buying eggs and such thats ok too-I know how that must look-
Schellie69 you hit the button on the head! Thank you for your support-and yes all other properties are getting handed back to the banks-but that was after I made sure my tenant was covered until her lease runs out!---She can stay-in fact shes probablt going to stay alot longer seeing as forclosure takes so long but she wont have to pay me rent -she will save her money for moving and rent on an apt..
Mommahen-I love you and thank you for having my back
Jersey girl-kisses to you too
twentynine-I will respectfully in your words "I will refrain from responding any further" to you I envy your financial situation good for you and congrats on an amazing accomplishment
Chicky Tocks--Thank you dont be surprised when I get in touch
Ranchhand-any help would be welcomed-the taxes are in the accountants hands as we speak-getting done and sent asap. Mind you, bankruptcy does not ever wipe out taxes due-we know it and intend fully to pay them after we set up a payment schedule with the IRS-already called them before they got the tax paperwork to get info and to know what we are looking at.
This was not a thread for specific people-only people who would help me with ideas to stay out of bankruptcy as long as possible without costing us more debts. In the least to help how to deal with it- That was it -Im sorry people missunderstood the situations and were misslead thinking Im the kind of person who would perposely live beyond our means out of disrespect-dishonesty-and ruthlessness. I knew the people who knew me..knew better-I still love you ALL...God Bless..!
Several people that I know who've filed seemlingly haven't been very affected...they still are living beyond their income, still have credit cards and it doesn't seem like much has changed for them, other than their debt was wiped clean and they got to start over.
I am updating this thread since I last posted because I HAD to go away for my job.
Katy-I have the utmost respect for you and please don't take this the wrong way-but I am not and never was or will be a cop-out to anything. I posted here for help-to stay out of bankruptcy-to get any help possible to prevent it. I do not qualify for chapter 7 which would wipe out all debts. I qualify -maybe-for 13. I went to the bankruptcy attorney today and they tried to talk me out of trying for 13 because I would have to repay alot of debt. they wanted to check chapter 7 first. I said no! I said I would repay everything we bought and charged-I just needed help with a plan to do so. We are good kind people that have always lent a hand to anyone who asked for it-no questions asked. We had 1 property ( house) that we lived in for 7 years-very affordable and very within our means-no bills-no CC bills of any extreme. Things were good. The house we have now was offered to us before it hit the market-It was right next door to my inlaws and DH thought it was the house that ended all houses in love-he missjudged our debt load and thought because his business was doing so well we could afford it-I said no. Dh made an offer anyway -not thinking it would stick but it did-but at the same time we were having problems. Thinking the new house would be teh answer to "OUR" problems-within 6 months we seperated. The house we "HAD and could afford" was rented out on a land contract and paid for itself-taxes and all-so that was not a debt for the time being. I rented a house for year-while seperated-bought that house to prevent it from being sold out from under my girls who were still suffering from the seperation-I owed them as much peace as possible even if it meant taking on a tighter budget-which I could afford. Mind you when I left my DH with the new house-which did not have my name on it-I left him with no CC debt just his business debts and his personal debts( not much) I took my CC and student load debts with me. I was paying them off. Dh had a horrific time trying to balance everything because I always did the finances-he couldnt do it. Slowly used credit to help pay expenses. We decided to work things out-combine all debts again and pay them off. Well the land contract fell threw-they up and left and destroyed a large portion of the facial structures of the house-we had to spend alot of $ just to get it in rentable shape-especially since the real estate market bottomed out. We've had it on the market for over 2 years now and nothing-we eventually rented it out again but that was after 9 months of paying two mortgages now-I rented my house out as soon as I could-because of moving back in with DH-but that took 4 months-we couldnt sell that either-weve been trying -those months of not having income off the properties wiped out every penny we had and thus began the downward spiral to survive off of not much compaired to what we were used to. It has been 2 years-we are still floating barely-WE HAVE NOT USED ! SINGLE CC IN 2 YEARS-We quit smoking-we have paid off some bills-and by the grace of God DH and I have managed to keep our heads together and stay together -my children are happy-yet they go without alot of things now-
Now the Cabin... Katy it is beautiful-you would love it and you are welcome to come and stay anytime you would like to visit the adirondacks-I would be happy to show you our small town...The cabin is in our BACKYARD on our property-it came with the house-it was in shambles but we knew it would help pay bills eventually-we worked at rebuilding it with recycled materials that were to be thrown away from DH's jobs. It took a 4 years but we finally finished it. We took alot from our own house and put in there. Tv-kids DVD's-games-carpets-dishwahser-garage sale items I spent 2 years collecting for. Yes we spent our own $ too to fix it up-freinds and family gave us things they no longer needed-We did it to be able to pay off debts as fast as we could. It COST us blood sweat and tears-but it was done with good intentions and will hopefully offset our mortgage payments to this one house we pray we will be able to keep through this mess. Oh and My house that I bought???? I offered to the single lady with children who is renting it -for less than what I owe on it-to help her and be rid of it-shes thinking about it-she literally would just have to agree to take over my payments legally! all I want is to be rid of it. We have sold everything we own to pay things off-a older camper-my husbands old car he was rebuilding for 10 years-a boat we owned for 6 years-canoes-his grandfathers snowmobile-tools-furniture..antiques that were handed down to us-you name it is GONE!!!!anything that meant freedom and luxury that we worked hard for is gone everything except my chickens! Im even doing some of that though to make my flock smaller before winter...Dh knows that -those birds are the only thing that has helped me mentally keep it together through all of this-and if you want to critisize me for buying eggs and such thats ok too-I know how that must look-
Schellie69 you hit the button on the head! Thank you for your support-and yes all other properties are getting handed back to the banks-but that was after I made sure my tenant was covered until her lease runs out!---She can stay-in fact shes probablt going to stay alot longer seeing as forclosure takes so long but she wont have to pay me rent -she will save her money for moving and rent on an apt..
Mommahen-I love you and thank you for having my back
Jersey girl-kisses to you too
twentynine-I will respectfully in your words "I will refrain from responding any further" to you I envy your financial situation good for you and congrats on an amazing accomplishment
Chicky Tocks--Thank you dont be surprised when I get in touch
Ranchhand-any help would be welcomed-the taxes are in the accountants hands as we speak-getting done and sent asap. Mind you, bankruptcy does not ever wipe out taxes due-we know it and intend fully to pay them after we set up a payment schedule with the IRS-already called them before they got the tax paperwork to get info and to know what we are looking at.
This was not a thread for specific people-only people who would help me with ideas to stay out of bankruptcy as long as possible without costing us more debts. In the least to help how to deal with it- That was it -Im sorry people missunderstood the situations and were misslead thinking Im the kind of person who would perposely live beyond our means out of disrespect-dishonesty-and ruthlessness. I knew the people who knew me..knew better-I still love you ALL...God Bless..!
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