Financial Relief - Had to do it

[Stg1swret]

The economy as we all know is not doing well. wages are down, prices up. To many people are unemployed or under-employed. My finances like many out there have taken a big hit. In the last few months, having been robbing Peter to pay Paul, but thought I could catch up as long as nothing unexpected came up. Well a few things did.

Started adding up the bills, and seeing how I could actually dig myself out. The creditors want their money, and don't want to wait. I like many here am a proud man , and have always taken care of my bills. Some a little late but they got paid. After careful analysis and evaluation, I've found I have but one choice, and it is something I had not planned on doing. Tomorrow, it is off to a lawyers office to file bankruptcy. Not a choice I make lightly. I never thought I'd be in this boat, but life happens independent of our wishes. Once the bankruptcy is granted, i can get back on track and move on with life. Stress level should be greatly reduced.

If you find yourself in the or approaching the place I'm at, don't go it alone. Let go of your pride and take advantage of all the help out there.

[Possom]

I hate to hear you have ended up in that position. The current state of our country has placed many people in hardship.

It has placed an enormous burden on many families that is outside of their control.

The true inflation rate is much higher than what is being reported by our government. Normal wages are no longer sufficient to keep up with people's current lifestyle. My wife and I live a simple life in the country but still feel the pinch of rising prices in regard to fuel and grocery items.

Everyone knows fuel prices have risen because it is obvious. Not many realize how much food prices have risen. Take canned good for instance. 5 years ago canned vegetables were 3 for $1. Now they are 69 cents to $1 per can. Other items prices have not increase but the amount of product you receive for the same price has decreased.

I fear things are going to steadily get worse.

Hope all works out well for you. Keep your head up and you will get through it.

[Stg1swret]

I'm sure it will all work out for the best when all is said and done. I just have to focus on the first rule of Holes: "When you are in a hole, stop digging".

I've changed lifestyles quite a bit in the last few months. I drive much less then I use to. Any trip under a mile is now done by walking. Grocery shopping no longer includes name brands. No eating out, no movies, etc. No impulse buying.

I know I created some of the hole I'm in, the rest was just bad circumstances. I 've done what I could, just wasn't enough. I now know how some of those that lost their jobs feel like. In my case however there is a fixed income available.

I'll get through it, and come out the other side the better for it. It is definitely a learning experience.

[ElevenBravo]

We swallowed our pride and filed several years ago. Medical bills were a huge part of it.

In the end, I use ZERO credit and pay cash for goods. If I dont have the cash, I save up... it feels so much better than being in debt!

GL bro...
EB

[eagle326]

We swallowed our pride and filed several years ago. Medical bills were a huge part of it.

In the end, I use ZERO credit and pay cash for goods. If I dont have the cash, I save up... it feels so much better than being in debt!

GL bro...
EB

As eleven Bravo said ; Been there ; done that over 7 yrs. ago because of medical and other. You do what you have to in order to survive. If you've used all options then you have to stop the slide. You'll come back quicker ; wiser and stronger in the end. We're tight here at home because of wife's open heart surgery but in a better position to make it thru this time. Many prep items are on hold till we get back to normal. But it is just what it is.

You have a game plan now so just follow through and make yourself more stable as best you can.
Best of luck in your journey Sarge.

[Brownwater Riverrat 13]

Damn brother, I hate to hear this news. But you've plotted a new course, stay on track. You maintain course and speed and you'll recover. I have faith in you, you remember what I said, my door's always open, meet you on the "High side" if you need me.

[Stg1swret]

Thank you all for the encouragement. It is just a spot I never thought I'd see myself. I know it is for the best.

[Gunfixr]

It has crossed my mind, we have a large medical debt, and for a couple years now, we've just been too poor to even make payments.

We haven't had any credit cards for over 10yrs, no loans other than the house, no car payments.

I know the medical bills have ruined our credit, we don't even get credit card offers in the mail anymore.

[The Stig]

Sorry that I missed this and that you're facing a challenging time.

Let us know what we can do to help. Advice, moral support, etc.

[2die4]

Sorry to hear. Things always get better. Anything that I can do to help let me know.

[cwconnertx]

Been there done that. Bad accident, impatient creditors, undercapitalized business.

To share the short story, had an accident and could no longer work at old job, tried to start a business, secured a business line of credit, before the business could get started they cut the credit line. So old income gone, new income gone combined with serious physical injury and medical bills.

The sad thing for the creditors is that if they could have waited, I got a settlement for the accident and got back on my feet. But had to go ch 7 since they were suing and keeping me from being able to get started. I would have been able to pay everything back if they would just listen. The good news is that I came out ahead in the end, discharged over 150k in debt, kept everything including the injury settlement, and now make a good solid 6 figure income. I don't understand why a lender will not try to work something out, but I got the better end of it.

You'll be better off without the anchor you are currently dragging, everything is much easier if you just get it done. I am so far ahead of the game, ironically, if it wasn't for my creditors I would still be paying. Sometimes there are disguised blessings.