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Bankruptcy Related

My Chapter 7 Bankruptcy in Tennessee Was Horrible. – Shirley


“Dear Steve, Im 62 yrs old, Im a widow. Im in chapter 7 bankruptcy in western tn. and its the most horrible thing ive ever experianced. I live 5 miles in the country in a double wide trailer on 1 acre. I am apx, 60,000.00 in dept, all but 6500. is unsecured credit cards. So far the trustee has had ... Read More »

Can We End Our Chapter 13 Bankruptcy Early? – Art

Bankruptcy Road Sign

“Dear Steve, we thought we had a good modification only to find out 2 and half yrs later it wasnt…so we filed ch 13….since filing we obtained a good modification, signed agreed and going well…we also have pd off our vehicle loan through this ch 13…..believe debt left is some very small medical bills…seems we could benefit more now by ... Read More »

Bankruptcy Isn’t an Option. We are Getting Divorced and Creditors are Calling. – Jennifer


“Dear Steve, Divorce pending, upside down on house we’ve had for 16 years (don’t qualify for the HART program for re-fi), two credit cards are maxed ($27,000+) and now we’re both paying rent/mortgage since I moved out into a condo. It’s put a huge strain on the finances with additional monthly costs associated with the second house. Something has to ... Read More »

We are in Our Late 60s, in Debt, and Afraid. – George

middle age couple

“Dear Steve, Married; living in Texas; age 67 & 66; owe credit cards about $60,000+; Social Security income = about $1500/month; part-time jobs = about $1200/month; own our home (house built in 1908 by great great-grandfather); current on all payments. (Debt is some medical and restoration expense of house to start a B&B that failed.) Main expenses besides utilities and ... Read More »

Life After Bankruptcy: How to Quickly Have Great Credit and Dumb Mistakes to Avoid

With a little education and guidance your life after bankruptcy will be awesome.

So you filed bankruptcy. Congratulations on taking steps necessary to deal with your old debt and get the legal protection and fresh start you are entitled to under the law. Your journey isn’t over though. The best days are now ahead of you but you will need to take action to rebuild a better financial future. Below you will find ... Read More »

We Spent All of Our IRAs And Still Deep in Debt in Hawaii. – Gayl


“Dear Steve, Lost my good paying professional job 2 yrs ago. Have worked less than part time since due to chronic health issues and economy downturn. I’m 55; husband is 65. Spent savings on getting a shop built at our home so he could run his woodworking business at home vs paying high rent. Last year was lean…husband nor I ... Read More »

We Are Currently in a Chapter 13 Bankruptcy. Where Can We Get a Loan? – Sherri

Magnifying Glass - Q&A

“Dear Steve, I applied for bankruptcy in Summer of 2011. I am wondering if it is possible to obtain a loan while you are currently in bankruptcy? My husband and I would like to do some work on our home and he will need a new vehicle very soon. The car he currently drives is in the bankruptcy proceedings, but ... Read More »

I’m Scared, Engaged, Pregnant and Terrified. – Alex

Sleepless woman

“Dear Steve, I got married in Sept 201 and unfortunately he ended up being the wrong person and abusive. I am still in the process of getting divorced. I racked up around 30k in credit card debt from the wedding and now for paying household and dily expenses on one income. I am living in the house which is still ... Read More »

I Do Not Want to File Bankruptcy and Want to Avoid Credit Cards Forever. – Carin


“Dear Steve, I am a high school teacher-same school 24 years. We had a house fire 4 years ago, fought insurance company, ran up credit cards, then paid them all off. Then my husband’s job was disappeared; found a new one-not paid; now fighting the owner for non payment, looking for another. Credit cards maxed out. I want to pay ... Read More »

Will I Be Able to Buy a Car After Bankruptcy? – Gina

buying car

“Dear Steve, I am in the process of filing it will take place soon as I am done paying off attorneys fees , This is for a chapter 7..I got sick back in 08 and was unable to pay my credit cards ..so since then there are huge interest fees attached..and everything is in collections… I will want to buy ... Read More »

So You Are Going to File Bankruptcy. That’s Good News. Congratulations.

The decision to file bankruptcy should be a celebration.

Here is something you don’t expect to hear people say, “If you file bankruptcy your life will get better.” Well, I did file bankruptcy and my life did get better. Within three years after our bankruptcy we had purchased a house and before that had rebuild great credit using secured credit cards. In fact for me, my financial failure and ... Read More »

I’m So Afraid, Scared, and Ashamed About Bankruptcy. – Jack

afraid alone

“Dear Steve, I’m 75K in credit card debt. My take home pay is 3136 a month. My monthly expenses plus credit card bills equals 3172. I have $900 in savings. This doesn’t include my $5100 tax bill due in 6 months or groceries. I’ve been barely able to make ends meet and I put groceries on my cc. Now I ... Read More »

How Quickly Does Bankruptcy Protect Me From My Creditors? – Mary

Bankruptcy Road Sign

“Dear Steve, 58yo..unemployed for a few years.due to layoff….maxed credit cards and behind by 6 months. Just gave my BK paperwork to attorney. I believe that due to my poor credit, I cannot find a job. Having a hard time just paying the important bills. Discover has now stated they will either give me to collections or to an attorney. ... Read More »

My New Husband Says Bankruptcy is Out of The Question. He’s Against It. – Susan


“Dear Steve, I have credit card debt of about $12,000 on top of my student loans which total about $22,000. I am not proud of the situation I am in. Living on my own and going to school (and being young and dumb) I used credit cards to get by and now they seem like they are never going anywhere. ... Read More »

I Want to Give My House and Car Back and File a Chapter 7 Bankruptcy? – Sasha


“Dear Steve, Lost my job a few years back. Got behind on my mortgage & my already high interest car payment. Filed Ch. 13 in 2011 after starting another job that wasn’t paying a lot. Now I’m working making better money but I don’t have a lot of money left after paying my bankruptcy payment. Can I file a Ch.7 ... Read More »

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