Life Bankruptcy - Page 3

mcan · 10-13-2009, 09:16 AM

Anybody here ever do it? What was your experience with it? I have a lot of very old credit card debt that I couldn't afford to keep paying on, and a lot of student loans that I have yet to really start on. Got my degree (in theater = dumb). I was teaching guitar lessons for cash through most of college and living off of student loans, then I was out of work for a while and now I'm living back home at the age of 29 (ouch). I did get a job on the production line of a fiberglass company for now, but the job isn't supposed to last past November. Got my summons a few weeks ago for a Discover Card debt. They want their money, and I don't blame them. But man, I really don't want to get my wages garnished and bank accounts frozen. This is a HUGE hole. Need out.

Any advice?

Demonpenz · 10-13-2009, 09:42 AM

Quote:

Originally Posted by Mile High Mania

And, sometimes... when life has you by the balls (by your own doing) you have to buckle down, set your priorities correctly and focus on a more consistently paying line of work.

I would listen to this, we finally sucked it up and started playing cover songs at bars. It was hard work, and no one wants to play Sweet Home Alabama, but we made it through, there were times where we thought we wouldnt't make it.

kstater · 10-13-2009, 09:42 AM

If you don't mind saying, how deep are you?

mcan · 10-13-2009, 09:43 AM

Quote:

Originally Posted by wild1

It used to be that bankruptcy was on your credit for 10 years. Don't know if that is still the case.

I am not sure that at age 30, doing something that will cause no one to loan you a cent until you are 40 is a good solution. No cars (unless you want to pay a rate that should be criminal), no buying a home, in some cases getting rejected for rental housing, paying more for all forms of insurance. The cure is worse than the disease.

I would think it would be much better to just live at home and work two jobs for the foreseeable future to start digging out. Waiting tables, tending a bar, whatever.

Sounds like good advice. Just not sure it's feasible. The job I have is swing shift now. It's good money, but like I said, when they hired me on, it was with the knowledge that I probably would get laid off sometime in November.

Brock · 10-13-2009, 09:44 AM

Quote:

Originally Posted by mcan

So your advice is for me to NOT do it, huh? Care to elaborate?

This is the kind of thing I was hoping to get out of this thread. (besides getting flamed a bit by the crowd)

You're going to be carrying that bankruptcy around with you for a long time. You need to give Mr. Flopnuts a PM. He can give you good advice.

Frazod · 10-13-2009, 09:44 AM

Ever think about going in the service? Since you have a degree you might get accepted as an officer.

The good part of that is even if they garner your wages you'll still have food and a place to live. Even if they both largely suck.

Brock · 10-13-2009, 09:44 AM

Quote:

Originally Posted by Demonpenz

I would listen to this, we finally sucked it up and started playing cover songs at bars. It was hard work, and no one wants to play Sweet Home Alabama, but we made it through, there were times where we thought we wouldnt't make it.

Good lord.

mcan · 10-13-2009, 09:45 AM

Quote:

Originally Posted by kstater

If you don't mind saying, how deep are you?

About 10K in credit cards and unsecured debt.
About 70K in student loans. Most of it government loans. Some private.

Brock · 10-13-2009, 09:45 AM

Quote:

Originally Posted by frazod

Ever think about going in the service? Since you have a degree you might get accepted as an officer.

The good part of that is even if they garner your wages you'll still have food and a place to live. Even if they both largely suck.

That's actually great advice.

Mile High Mania · 10-13-2009, 09:45 AM

http://www.daveramsey.com/the_truth_..._3018.html.cfm

mcan · 10-13-2009, 09:46 AM

Quote:

Originally Posted by Brock

You're going to be carrying that bankruptcy around with you for a long time. You need to give Mr. Flopnuts a PM. He can give you good advice.

Thanks. I appreciate the honest feedback.

**Skip Towne** · 10-13-2009, 09:46 AM

Move three states away and start using an alias.

**Scorp** · 10-13-2009, 09:46 AM

Quote:

Originally Posted by frazod

Ever think about going in the service? Since you have a degree you might get accepted as an officer.

The good part of that is even if they garner your wages you'll still have food and a place to live. Even if they both largely suck.

Good God Man, he already stated he didn't want to die.

Demonpenz · 10-13-2009, 09:46 AM

Quote:

Originally Posted by Brock

Good lord.

I know, it was hard sucking it up and realize we were going to have to stop with our own music, but sometimes it's time to face facts. Our Album Microwave waffles needed to come second, and first came getting our bills payed off.

**Scorp** · 10-13-2009, 09:47 AM

Quote:

Originally Posted by Skip Towne

Move three states away and start using an alias.

I would move to Mexico and refuse to speak Spanish.

wild1 · 10-13-2009, 09:48 AM

Quote:

Originally Posted by frazod

Ever think about going in the service? Since you have a degree you might get accepted as an officer.

The good part of that is even if they garner your wages you'll still have food and a place to live. Even if they both largely suck.

That is all true, plus you could acquire some skills that would be more marketable.

10-13-2009, 09:16 AM
mcan Apr 13,1949 – Dec 15, 2011 Join Date: Aug 2000 Location: Kansas City, MO Casino cash: $9996085	Bankruptcy Anybody here ever do it? What was your experience with it? I have a lot of very old credit card debt that I couldn't afford to keep paying on, and a lot of student loans that I have yet to really start on. Got my degree (in theater = dumb). I was teaching guitar lessons for cash through most of college and living off of student loans, then I was out of work for a while and now I'm living back home at the age of 29 (ouch). I did get a job on the production line of a fiberglass company for now, but the job isn't supposed to last past November. Got my summons a few weeks ago for a Discover Card debt. They want their money, and I don't blame them. But man, I really don't want to get my wages garnished and bank accounts frozen. This is a HUGE hole. Need out. Any advice?
Posts: 3,761

10-13-2009, 09:42 AM	#32
kstater Custom User Title Join Date: Jan 2007 Casino cash: $-1693437	If you don't mind saying, how deep are you?
Posts: 40,007

10-13-2009, 09:44 AM	#35
Frazod Did you hear what I said? Join Date: Aug 2000 Casino cash: $-826615	Ever think about going in the service? Since you have a degree you might get accepted as an officer. The good part of that is even if they garner your wages you'll still have food and a place to live. Even if they both largely suck.
Posts: 121,788

10-13-2009, 09:45 AM	#39
Mile High Mania #triggering Join Date: Aug 2000 Location: Tejas Casino cash: $877229	http://www.daveramsey.com/the_truth_..._3018.html.cfm __________________
Posts: 30,911

10-13-2009, 09:46 AM	#41
Skip Towne Supporter Join Date: Apr 2001 Location: T-Town Casino cash: $10004900	Move three states away and start using an alias.
Posts: 69,689