Any advise on personal bankruptcy

I just recently read that 1.9 million Americans filed for bankruptcy in 2010. Anyone on ATS go through it or know any one who has?

Originally posted by him777
I just recently read that 1.9 million Americans filed for bankruptcy in 2010. Anyone on ATS go through it or know any one who has?

My wife and I filed summer 2009 for the first time in either of our lives. Both had a 700+ credit score going in but unfortunately due to my retirement as a senior NCO active duty military (20+ years active service) and my wife and I small business losing 62% business from FY2008 -FY2009 (basically a life changing event where our income went from $175k annual to $17k...well in addition to losing our business and my low mileage Porsche 996 911 and my 400+ HP AC Schnitzer (E46) BMW M3, I could not get my post retirement career going (50+ resumes a week and interviewing against 8 to 12 candidates for every aerospace systems test engineer job out there)...well I/we lost it all man. POOF! Gone! Almost overnight but yet prolonged enough of my life spiraling out of control for extra added dramatic effect I suppose....but after it finally sinked in that this was not just some "ordinary" recession and that getting my career off of the ground wasn't going to happen anytime soon, it actually became "liberating" in a way once I realized for the 1st time how much of a prisoner of my "possessions" I had become over all the years.

Talking about getting my career of off the ground, I best get my butt going for work (finally landed it about 8 months ago after spending 1 year unemployed and almost homeless), but am available for any personal questions about either the process, or what to expect...just U2U a message to me and I will reply this afternoon after work. We had filed in California BTW. Good luck and just know that whether it is you, or someone you know that is about to go through such a turbulent experience that in time...all comes to pass man, including that!

NT

reply to post by Newbomb Turk


Had it all too. It's true. We lived for our stuff not our stuff existing for us.

.......it actually became "liberating" in a way once I realized for the 1st time how much of a prisoner of my "possessions" I had become over all the years......

such a great quote, and so true. thanks for sharing

I have gone bankrupt. Medical bills. I was hit (and nearly killed by) an uninsured, flat broke, driver.

I paid and paid and paid. I had HUGE bills. I paid for years, I couldn't keep up with the interest.

The guy who did me (well, his office, anyway) was Peter Francis Geraci, of TV fame. I got to talk to him once even! Wowee. Interesting factoid - a punk rock band called Dead Steelmill actually wrote a song about Mr. Geraci - it's called "Peter Francis Geraci" , I think this can be found on the net. Now how many bankruptcy attorneys have been immortalized with a punk tune?

No specific advice for you, mine was several years ago, prior to the bankruptcy law changes. I remember feeling embarrassed and humiliated. But then - I felt - relief.

I'm sorry to hear the sad tales here, I can relate.

I think that before doing something this drastic you should look further into the reason why you need to file. I would like to send you a link that may help with understanding the financial situation you may be in, and then you can make a proper assessment.

Hope this helps.

ebookbrowse.com...

Peace, NRE.

Originally posted by him777
reply to post by Newbomb Turk

 

Had it all too. It's true. We lived for our stuff not our stuff existing for us.

Yup...looks like we def had one thing in common then

Shot you one hell of a message back lol hopefully it clears some things up. And seriously don't pay no attention to the "fear mongers" and the "well I wouldn't recommend doing that, why don't you blah blah blah...basically why don't you just draw out something that you already know that you can't draw out that would only just drain what little bit of resources you have left as it is only to lose it all in the end later" people.

If you have seriously tried the best you could do to honor your debts (as I firmly believe everyone should responsibly do) but truly really know that it's done....then the sooner you realize that yup it's done alright, then the sooner you can get it behind you, take it on the chin, and get back on track but this time learn from what was done wrong (which with THIS case how much wrong did you really even do...that being that oh yea this "recession" was effing designed and orchestrated you can bet your bottom dollar on that!), anyways I could go on and on...but just so long as you do it right this time and learn, then the sooner that you get on with it, the sooner you can get past it and get back on top.

The material things will ALWAYS be there man, THIS will be a time to connect with yourself, people around you that show you empathy (there is NO WAY I would have climbed back on top if I hadn't been helped by a few VERY GOOD TOTAL STRANGERS...and that is the truth), and MOST IMPORTANTLY ONCE YOU GET THERE, KEEP A LOOK OUT FOR THE GUY THAT WAS ONCE YOU AND NEEDS A HAND UP! Help him/her out brudda!! THAT is how I am choosing to repay back to society for paying for....my "mistake"

NT