Buried Beyond Belief! (Washington, percent, responsible, cheap) - debt, loans, credit cards, banks, insurance... - Page 16 - City-Data Forum

Icy Tea · 12-25-2008, 06:08 AM

You are bailing yourself out. Well done.

FarNorthDallas · 12-25-2008, 08:26 AM

Interesting the lady from the credit card company didn't try to talk you out of bankruptcy. I guess since you already had an attorney she figured it was a done deal. Sometimes they try and talk you out of it by lowering your bill by either lowering the interest rate or deleting late fees or deleting past interest.

You might just stop answering the phone.

In the bigger picture, I wonder if folks like you are being counting in the People Having Trouble category since you went from good credit and paying all your obligations on time to boom bankruptcy. The abruptness is sortof scary if that's what a lot of folks are doing or will be doing.

Not criticizing you at all. The law provides for a fresh start and people should use it if they need to. It'll just be interestng to see how this plays out.

As much as you have cut your lifestyle now, you will have to cut it more probably. You need a big pile of cash reserves since you can't depend on credit cards for the big sudden expenses.

jaindow · 12-25-2008, 04:13 PM

Quote:

Originally Posted by FarNorthDallas

In the bigger picture, I wonder if folks like you are being counting in the People Having Trouble category since you went from good credit and paying all your obligations on time to boom bankruptcy. The abruptness is sortof scary if that's what a lot of folks are doing or will be doing.

I would think it unlikely that people like this are being counted in the 'People Having Trouble' category unless an entity was actually tracking HOW people are paying their obligations on time.

It would be interesting (and scary) to learn how many people are now continuing to sustain themselves or their family by using mostly, if not all, borrowed money.

movin'on · 12-25-2008, 04:24 PM

Quote:

Originally Posted by jaindow

I would think it unlikely that people like this are being counted in the 'People Having Trouble' category unless an entity was actually tracking HOW people are paying their obligations on time.

It would be interesting (and scary) to learn how many people are now continuing to sustain themselves or their family by using mostly, if not all, borrowed money.

And that is the point - BORROWED MONEY - which people need to keep in mind, myself included.

czubmeister · 01-05-2009, 08:13 AM

There is not much going on at this point. Not using the credit cards at all and only had 4 calls on the credit cards. Waiting for calls from the other cards that I have.

It doesn't make much sense to avoid collection calls. I haven't received any calls from citi since I told them I'm going BK. But the mortage is due between now and the 15th of the month so I'm scrambling now to come up with the money for that.

I think we had an all time record for spending over the holidays. Less than $300.00 for all gifts. That's down from the traditional $2500 plus we used to spend.

I'm going to call the atty and see if they received that package of paperwork I sent over. That's it for now.

drjones96 · 01-05-2009, 08:57 AM

Good Job. Sounds like you may be on the road to recovery.

skaternum · 01-05-2009, 11:53 AM

Also late to the party, but chiming in. This whole thread ticks me off. This guy was an idiot with his money, and to his credit he is admitting that. So what is going to happen? NOTHING. He files Chapter 7 and WALKS AWAY from all that debt. He won't lose a single one of his four cars; he won't lose his house. <sarcasm> He will, of course, face the horrific ordeal of having to eat out less often and sell some of his useless possessions. </sarcasm> So now all the creditors are out that money and make it up by slipping in more fees and raising rates on their entire customer base, which includes just about everyone in the country. Meanwhile, those of us who aren't idiots have to keep paying our monthly bills. Yeah, "ticked off" pretty much describes how I feel about this. The inequity of it all is absolutely galling.

And I don't believe that the evil government is to blame for his situation. No one put a gun to his head and told him to buy that freaking guitar on E-bay. You cannot be an adult in this world and not figure out that you don't get "stuff" for free!

Sorry if I can't participate in the happy dance some of you are doing for this guy. I admire that he had the guts to lay it out there, but I'm incensed at the outcome. This is what is wrong with this country, not the government telling me to buy crap.

wanneroo · 01-05-2009, 02:16 PM

Yep it's like welfare. The productive people pay heavily for the unproductive people to not be productive. Equality is spreading misery evenly. Ultimately those of us who pay our bills will be paying for this guy with higher charges, interest rates or other revenue generating sources.

I appreciate his honestly but hopefully he shall suffer to the point he will learn how to manage his finances properly.

colleeng47 · 01-05-2009, 03:03 PM

I hope y'all who are being so judgmental never make a mistake in your life, because apparently you'll never forgive yourself.

darstar · 01-05-2009, 04:17 PM

Quote:

Originally Posted by colleeng47

I hope y'all who are being so judgmental never make a mistake in your life, because apparently you'll never forgive yourself.

Yes , they make it all sound so simple. So quick to judge , with little knowledge of our laws , and an economy that is in the tank. There does need to be reform , of the Credit companies that are raping the public.
Its all been spelled out in these threads , if , they would go back and read , instead if judging someone without knowing the facts and circumstances.