Bankruptcy. What a nasty word. Some people would never even dream of filing it. But for some of us, its a painful reality (Trust me I have experience). I am merely here to share with you my personal experiences with the entire system and how it can, and can’t work for you.
Poor spending habits, living past your means, gambling, investments, WHATEVER got you here is besides the point. The fact is you’re here. Here is my story. On Sept. 28th 2005 I filed for a chapter 13 bankruptcy. Chapter 13 bankruptcy is where you enter into a plan with a list of your creditors to repay a fraction of your total debt monthly over a determined period. In my case I had to pay $200 monthly which was deducted in installments from my weekly paycheck. Seems simple enough.
Its not. Life happens. Cars break. Things break. Taxes happen. LIFE HAPPENS! All of a sudden I lose my job. OH NO! I’m not paying my $200 a month anymore. And slowly but surely (as any monthly obligation does) it snowballs to a tremendous amount. A tremendous amount that I just can’t catch up.
Now I’m getting letters for “motion to dismiss” which means all that debt will fall back onto me. I have to seek other options. Finally in July of 2007 I learned that I could convert my case to a chapter 7 and be done with all this mess. So I did. I was able to claim all the debt I had incurred between my original filing 9/28/05 and my conversion in 07/07. Which was great. A FRESH START!!!! Once I get that discharge paper!!! OHHH ONCE I HAVE IT!!! I’ll be able to buy cars, get a credit card, rent a house, and pay my bills like a normal human being.
Well on 10/26/07 I got my discharge. And I found out, you still can’t buy anything. Your credit still sucks. No matter how good your job is. No matter how much money you have or make. They’re just looking at your stupid FICO score. Well ISAAC heres a little something for you………SCREW YOU.