Just curious bc I don't know how it all works, but when you file bankruptcy doesn't that mean you don't have to pay any of the debt you have like car and house payments and credit cards? It makes no sense to me because if that was the case wouldn't everyone want to just file? What happens to you when you do?
Its the only way we can get out of our house. We pay $2500 a month for mortgage and can't sell our house for anything close to what we own on it and pay over $1,000 a month in credit card bills and about $600 a month for our boat and moorage, $400 for my car (will be paid off soon though), not to mention all the other monthly bills we have. We are getting overwelmed. I'm curious for anyone who has filed for bankrupcy how long they lived in their house befor they had to finally move?
Haha I feel the same way about owning a house. We looked last summer and couldn't agree on anything so decided to wait. To me buying a house seems like such a pain in the ass, it is easier to rent and I don't have to fix what breaks.
Yeah we bought our house in 2006 with nothing down and got a loan for $330,000. Don't know why the bank approved us! LOL. Owning a house is an endless money pit LOL
No, that's probably why its so cheap lol we don't owe anything on any cars either thankfully. Phew! We were both married previously and let's just say neither of us were married to very responsible people. They both screwed us over BIG!! You can try We The People in Lakewood...they try really hard to make it as cheap as possible.
I moved out of my house the same month we filed which was stupid! You can miss at least 3 payments and my house didn't even go up for auction for almost a year. I could have lived there for free for months! The finance class was a joke, we did it online. It cost $1500 and we're 3 years out and still have no credit, so my dad cosigned our car and we're renting indefinitely. We bought a house from family without a home inspection. NEVER buy a house with no home inspection.
@sophiasmom11. We have $30,000 in credit card debt along with the house, etc.... Want to make a fresh start.
@laura536. I'm not to worried about cars or credit. I feel like once we start fresh we will have so much money a money a month that we can save we won't need a credit card.
My parents filed bankruptcy about 5 years ago, i can ask my mom tomorrow, but i know they take a huge chunck out of my dads paycheck, and they have absolutely no credit and you can finance anything, they pay off your debts for you i think, i'm not sure though
Do it if you can. We had no other choice and the feeling of a fresh start is priceless. But just be sure to set a budget and follow it. We have a ridiculous budget we have followed for close to a year now. Our marriage is better and damn it feels amazing to pay bills and pay them on time. I'm in Michigan and it cost us about $1300 to file. I lost my job three weeks before I found out I was pregnant with my three year old and we went into debt. We kept our house and everything we have. In 2006 I had menegitis(spelling?) and had thousands in medical bills even with having insurance. That plus credit cards we were really suffering!
@mom924. We are on a pretty strict budget as it is. I've even lowered our grocery bill in half by using coupons. I feel like the fresh start would help our marriage not to mention we have a baby being born on March 1st.
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@laura536. I'm not to worried about cars or credit. I feel like once we start fresh we will have so much money a money a month that we can save we won't need a credit card.
@mom924. We are on a pretty strict budget as it is. I've even lowered our grocery bill in half by using coupons. I feel like the fresh start would help our marriage not to mention we have a baby being born on March 1st.