Bankruptcy attorney appointment Friday

iVillage Member
Registered: 10-01-2008
Bankruptcy attorney appointment Friday
15
Tue, 01-20-2009 - 2:02pm

We have sat down and discussed it this morning.

Norma


"Patience is the best remedy for every trouble"- Plautus


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iVillage Member
Registered: 03-26-2003
Tue, 01-20-2009 - 2:07pm

Norma, you're going to be fine. It's been awhile (1999), but it was actually quite painless when we went through it. The hard part was getting over the feeling of embarrassment that somehow we did something "bad" and of course, the whole "I'm a failure" thing. Believe me, you're not. There is a reason for the laws that are in place. You're taking steps to protect yourself and get back on your feet financially.

I wish you the best.

Sue


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iVillage Member
Registered: 10-01-2008
Tue, 01-20-2009 - 2:26pm

Did you

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 03-26-2003
Tue, 01-20-2009 - 2:52pm

We filed Chapter 13 and paid back every penny of what was owed on the credit cards, everything but interest and fees of course. Our truck was included in the bk and was the first thing paid off with interest. Our house was left outside of the plan so we continued on as usual with the house payment. The bk payments were a bit tough, and we had to turn over our tax refunds every year, but it really wasn't as bad as I thought it would be. 3 years into the 5 year plan we refinanced to pay off the bankruptcy. This was in 2002 and we had an adjustable rate mortgage. When the rate went up in 2004, our credit was good enough to refinance with our local bank at a very good interest rate on a 20 year mortgage.

My credit was also good enough after the bk to get more credit and get myself right back into trouble all over again! (Yay me!;-)) We didn't file a second time, but a good percentage of people who file bankruptcy end up filing again. Promise yourself you won't let that happen. I'm sure it's much more difficult in this day and age for that to happen with the credit bubble bursting. I think that's a good thing.

As for what you can expect, I'm not sure since this is now 2008 and the laws are a bit different and we're in different states.

Make sure you have a good lawyer and follow his/her advice. You'll be fine.

Sue


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iVillage Member
Registered: 07-05-2006
Tue, 01-20-2009 - 3:16pm
Wishing you the best here, Norma! I know it's not what you wanted, but it will hopefully ease your stress and help you regain your life. There's no shame in that! If we didn't have the help of my parents, we'd be in the same place.

iVillage Member
Registered: 10-01-2008
Tue, 01-20-2009 - 3:32pm

Thanks Abbie,

Norma


"Patience is the best remedy for every trouble"- Plautus


Community Leader
Registered: 07-26-1999
Tue, 01-20-2009 - 4:03pm

Norma,


The most stressful part of BK is leading up to and finally deciding to file the paperwork.

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iVillage Member
Registered: 03-17-2003
Tue, 01-20-2009 - 4:22pm
Here is a link to a thread entitled "Prepare For Appointment With Bankruptcy Lawyer". This is the information the lawyer will need to review your finances and offer options.

iVillage Member
Registered: 10-01-2008
Tue, 01-20-2009 - 4:42pm

THANK YOU THANK YOU THANK YOU.

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 11-17-2007
Tue, 01-20-2009 - 5:14pm

Norma


Someone said or I heard this somewhere that A WISE MAN KNOWS WHEN TO ATTACK AND WHEN TO STAND HIS GROUND AND WHEN TO RETREAT.


I know you are not a man but it could be said the same thing of a wise woman. Don't be ashamed I see everyday in this town people losing their businesses and closing the door. You tried and you gave it more then a decent shot. So hold your head up high and look forward. If that means taking a Chapter 13 or even a 7 if you can and clean up all the old mess do it. Then start building from there and don't look back.


Hugs


Mary Ann


iVillage Member
Registered: 03-20-2007
Tue, 01-20-2009 - 6:26pm

My thoughts and prayers are with you. I was let go from my job in December and still have not been able to find work. I do get unemployment but it will not be enough to pay all my bills soon. I have put in applications and have gone to the temp agency's but so far nothing. I have thought about bankruptcy down the road. I also live in East TN. Just curious. Are you near Knoxville? Hang in there. I truly believe that prayers do work. :)

KRG

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