quote Originally posted by 82-T/A [At Work]: This is the problem with America. They are the same people who perpetuate this victim and entitlement mentality. It is about race... it's the "white liberal" that's destroying America. Pelosi, Reid, Frank...

That again? haha.. Seems that we have a black president who is telling everyone that it is okay because he will take money from the rich to help them too... Obviously that is a joke. It has nothing to do with anyone's color.

But I do agree that the big three you mentioned are a HUGE part of it. They are the ones who are allowing people of EVERY RACE to get by scot free and not fulfill their obligations. Or at least they are the ones pushing thing through Congress that will allow it to happen.

It is not about race. It is not about age. It is about mindset. People need to realize that they are responsible for themselves and their actions and act accordingly.

[This message has been edited by Songman (edited 11-03-2009).]

I've never been deep in debt. Raised 4 kids by myself, worked as many as 3-4 jobs--whatever it took to keep our head above water.

I simply cannot fathom people having 5 figures worth of credit card debt.
Mortgage debt-yes.
unexpected or catastrophic medical care cost debt-yes.
School loan-yes
car note debt-yes.
I can understand having any or all of those.

Credit Card--not a chance.
Other than an Exxon gas card, never had a CC--never wanted one--never saw an upside to having one.
Like I said, I would have serious navigational issues with bankruptcy.

In my case I got a divorce and although the court may rule that both parties are responsible for debt, the creditors don`t look at it that way.
My ex-wife worked at home, so all of the credit accounts were in my name.
Thus, the creditors didn`t care if my ex-wife was suppose to be responsible or not.
They said my name was on the accounts, so I was responsible.
I don`t expect creditors to school people in the ways of credit management, but I think they ought to require larger minimum payments to cover the principal.
Many people, such as myself pay the minimum payment and for example my Dell account, had a minimum payment of 28.00.
Well 26.00 of that went to interest, and at that rate the balance would never be paid off.

it's all good songman
this is what a discussion is all about, debates! we're cool.

now get that roll bar made

quote Originally posted by revin: ^^^ that is wrong. no way will a creditor forget about ya! they will hound ya till they get their money!

Actually, in most states they have three years from the time of delinquency to go to court and get a judgment for the money owed or they are **** out of luck. Debt is a civil matter and generally you only have three years to take somebody to court.

I know two people who have done this, Both times it took a lawyer to get the creditor to stop calling but just one conversation with the lawyer did it.

But they can still throw it on your credit report for seven years and mess you up on things you might want to do in the future.

Both times, as soon as my lawyer filed them all the calls and letter stopped and never heard from them again. The ONLY item I had taken back by anyone was a big screen tv by a local finance company. American Express lost $2500 with my 2nd one and gave me a new corp card the next year with $50K limit without blinking. Some of the creditors put it in my credit report, but most didnt. Last I checked my rating was like 780. Either way it was gone in 7 years.

quote Originally posted by pontiackid86: Look up your statets statute of limmitations law. In PA aftwer 7 years your are not obligated to pay it back. They will not tell you this but after 7 years they can keep calling but there is not much they can do about it. But in the long run it all depends on what that money went to for a statute of limmitations law to take effect. Talk to financial lawer about it.

Beware - if you make ANY payments, that 7 year clock resets.

Don..Sorry getting back to you so late.
I really didn't have that much debt but I was young and it was recommended to me.
I had no job for a short while and creditors were hounding the hell out of us.
But whenever I filled out a form of any kind thereafter I always had that pang of guilt that I had filed.
One debt I owed was to my insurance man who had paid my premium.
I paid him back in person many years later and he appreciated it.
Life goes on.......................

I feel that I need to fill some of you in to try to keep from loosing your respect.

I know this is my debt.
But in 10 years, I have made almost no headway.
I live paycheck to paycheck.
And I have no savings.

and to those of you thinking that I am living high on the hog let me run down my house and appliances for you.

House
975 square feet
bought for about $58,000. 11 or 12 years ago.
still making payments.

Kitchen
Stove / oven, used, bought when I got the house.
Dishwasher, used, given to me by a neighbor when I moved in.
Refrigerator, used, got it from work when they replaced the one in the break room about 3 years ago.

dining room
table and chairs, used, bought from a friend when i got my house

living room
TV, used, bought from a thrift store about 6 years ago.
VCR, bought new from walmart, probably 4 years old.
DVD player, used, found in a trash dumpster dive.

Son's bedroom
bed, dresser and stand up lamp, used, belonged to Polly before we met.
Wedding dress, new, bought when I met Polly 10 years ago, 600.00 on a credit card

computer room
desk, used, bought at salvation army thrift store
computer, used, bought from or donated by PFF members
monitor, used, bought at thrift store.
chair, used, given to me by a friend.

master bedroom
king sized bed, used, given to me by a customer when he moved in to an old folks home.

Basement
dryer, used, was picked up on the side of the road.
I haven't had a working washing machine in about 5 years
hot water heater, came with house 11 years ago
furnace, came with house 11 years ago
pool table, new, bought with the money my grandmother left me when she died, so I could remember her by, about $2500 about 10 years ago.
AC unit, new, paid by check, about 2 years ago.
Air compressor, new, bought with credit card $200, about 18 years ago.

so that's $800 on the credit cards for the house in the last 18 years.

cars
1985 fiero GT, used, given to me in pieces about 6 years ago.
was a daily driver before I bought my Grand Am
parked because no insureance and waiting for me to put it back together after it was stolen.

1984 fiero, used, paid $300 for it.
i probably put $3000.00 in credit cards for putting a V8 archie kit in it around 1998

1967 Catalina, used, paid $1200 for it.
I bought this car in 1992 and really haven't spent too much on it other than replace the engine.
about $1200 to rebuild and install a 455 buick engine. but I cant remember if I used a credit card.

1985 Kawasaki 900 ninja, used, with body damage.
paid $1500 for it in 1992 (yes, i was still living at my mom's house in 1992)

1996 Grand Am, used, paid the mother of a close friend $900 for it about 2 years ago.

all of the vehicles are parked because i can not afford to put insurance on them, except for the Grand Am.

So I would say that 85% of my credit card debt was from when I was in the hospital or when i was unemployed for 7 months and used the cards to pay my utilities.

yes this is my debt.
and i feel a heavy weight.

But please don't think I haven't tried.
I've been paying the minimum payment + whatever else I could afford every month, dropping my checking account to 0.00 for the last 10 years.

I don't see any light at the end of the tunnel.
Maybe there is, and the tunnel is just too long for the light to shine that far.

quote Originally posted by revin: ^^^ that is wrong. no way will a creditor forget about ya! they will hound ya till they get their money! You are correct in the thinking. and correct that is how we should look at things. ( I do NOW) first I have no good excuss . but let me try... I was young and the money was not there. you know working at min. wage won't get you anywhere. a lot of card companies go for the collage students. again most don't have money and YES they should think long and hard on what they do. but do they/we? NO we want the big screen tv so we suffer food or other bills to get it, or save money for a while, or the easy way to get it ...credit! guess which one most want to do? easy way! I can agree with you songman NOW, but try telling that to someone that "wants to be like the jones" or trying to keep up with your friends stuff. OR job loss... you may have the $ to buy that big screen tv and couch now and on your good credit. then all it takes is an unexpected job loss and yeah the world starts spinning out of control. Now you have to do something fast! knowing what bills to pay and when. what gets all the money you have in savings? no money coming in is a ***** . some to most of my CC's bills was from I got laid off, looking for job for months. had to use CC to buy food and gas (to look for work) so the cash went to paying the bills till it ran out then a fewbills were paid by CC. I hated doing it but it is/was a life lesson. Now I only owe on my house and it is not a whole lot anymore cause I learned my Money lesson the hard way. hard headed kids. huh

They wont forget about you but by law (PA state law at least) says that after 7 years debts cannot impact your credit. They can keep calling and pushing you all they want but if they take it to court the judge will have to rule in the defendents favor dude to a 7 year statute.

Lat thoughts on this one.
The peolple who work for the credit card companies have a job to do to try and collect the money we owe them.
The thing that irks me now is when you get a call being placed by some one in India.
When I got one of those I would ask where they were located and if they said any other country but the U.S., I would tell them that I would wait from a call in the U. S. of A.
I believe now the laws are a little tougher. You might have to have counseling before they accept your application.
Buddy ...You have to do what is best for you.
It's kinda like our Fieros.........You fix it the way you have to.
One other thing........A couple of years ago I got a letter offering me a reduced payment on a account from Chase.
The only account I have with Chase is my mortgage.
I asked them if I owed any other amounts to them.
Come to find out........Companies will buy your old accounts if you haven't paid, for a small amount of money, and TRY to collect from you.
This bill was 23 years old. I told them so and called them a few choice words, and haven't heard from them again.
I believe I told them I would turn it over to the State's Attorney {bluff}
Hang in there...............Cliff

Buddy,

I'll say again what I said to revin earlier... Any of my comments are generalizations about the mindset of our country these days and not about a specific person. I am not judging you. I don't know your personal history. Everyone has their own situation and has to make decisions accordingly. If you read through my posts you will see that I have never said that anyone who files bankruptcy is bad. You'll see that I said that bankruptcy should be your very last resort. I totally agree that no one should have to spend their whole paycheck paying outrageous interest fees.

Lots of us have had to adjust our lifestyles. I think everyone has. If not for our current situation, at least to plan for the uncertain future. If you look back over my history here you'll see that I used to have 5-6 Fieros at at time. Now I have one. We're paring our other cars down too. Between my wife and I, we have 5 vehicles. We're trying to get down to no more than three because it is a waste of money to have them. Not only is it a waste to pay registration and insurance, but it is a waste for them to sit there when I could sell them and put the money to use somewhere else.

You have to make decisions that are right for you and your family. It's obvious you aren't looking to do anything just to get rid of debt that you could pay but just don't want to. Personally I wish you lots of luck and hope you can find something that can give you some peace. I don't know if you are a religious man or not but in my opinion a few prayers wouldn't hurt either.

If you will let me, I'd like to send you one of my Dave Ramsey books. He is not for everyone and you may decide that his way is not for you. But if nothing else, reading his book might show you that the situation is not hopeless. You are definitely not the only one in this situation and there is light at the end of the tunnel, even if you can't see it. Smart choices and a good plan (regardless of which direction that takes you) can get you back into the black. If you'll PM me your address I'll put that book in the mail to you. It might just help. You never know. Good luck.

What kinda work do you do? You should look into taking a contract job to Iraq or Afghanistan. I know its dangerous, but the pay is good, the food and housing is free, and its a very low cost of living to live on base. No utilities. If you come as a civilian, and spend 330 days of the year out of the U.S., your first $92K is tax free. I'm doing it now to pay off my student loans, or at least save the money to pay them off so I can keep them around for credit reasons. Like I said, dangerous? perhaps, but a great growing experience and might open up doors for you. Food for thought

Also, I had $24K in student loans, and $10K in credit cards due to car issues, living expenses, and tuition on the cards when the army jerked me around on tuition issues. the credit cards are going to be payed within 2 months of the one year contract. If you can swing it, it may be a good option. Oh and after I graduated I worked for 3 months on applications. Put in over 100 and only heard back on a few of them, but with the economy in the shape it is, i was compeeting against people who had 20+ years of experience, so I lost out on the only two interviews I was able to get. So it seemed like the right choice for me for tons of reasons.

[This message has been edited by DR650SE (edited 11-04-2009).]

Each person has to make up their mind to do it or not. I dont care what anyone thinks of me and you shouldnt care either. Its gotten to be you have to use the system to work for whats best in your situation. Sorry, but as long as its legal work the system to work for you. Take handicapped parking passes for example. I see people everyday, some looking like football players, using them. And why would Home Depot need 30 handicapped parking spots at one store... Are they expecting a mad rush of wheelchair roofers If you can get ahead of the game by doing it, just do it.

My Dad filed bankruptcy twice as I was growing up. He was a single parent, raising us kids and barely able to make it. If it weren't for food stamps/welfare we never would've eaten. The first time he did it I was really young and have no idea about the details of it, but the second time I was about 15. We lived in a townhouse that was falling apart, the repo people were coming to take his cars (an '89 Jeep and a '79 VW Bug that was falling apart, which he had used as colateral for loans), our power and water were turned off many many times and we'd go weeks without because he couldnt pay to have it back on. I assume he just got sick of it all and filed bankruptcy, and about the time that happened he lost his job. So it was a constant struggle for him and I guess he gave up. He always would say how ashamed he felt to have to do it, but he "just cant get ahead".

Growing up like that, you'd think I would've had a little bit of sense when it came to credit cards and such....but I didnt lol

When I got my first credit card it was through Capital One (aka the devil lol), I was doing well with it with only a limit of $500 I think. I missed one payment and my interest rate went through the roof....which I had no clue that would happen (aka being young and stupid). I applied for another card to transfer the balance to so I could lower my interest rate, and close the CO account. I did great with that for awhile. When I moved to Michigan (big, HUGE, stupid mistake) I used my credit card to help pay for moving expenses when I went back to VA and thats when it got out of control. Now, mind you, I say out of control and when I cut up my credit cards I had a total of 4K in credit card debt, but that 4K is a lot to pay each month when you aren't making much money.

I went out and got a bunch of store credit cards, Victoria's Secret, Macy's, etc etc and that was what did me in!! I would get close to my limit and they'd raise it, and because I didn't make much money with my jobs I'd use them to buy clothes or whatever else I could. I use to have a bad day and "treat" myself to a new outfit or something (yeah yeah yeah, I know, stupid stupid!) I had lost the job I was at for almost 2 years and was collecting unemployment....and when you are getting a quarter of your previous salary and have rent/car payments to make, I had to put off paying the payments to the credit cards. I was hit with late fees, overlimit fees, interest etc and I couldnt handle it anymore.

I called one of those debt consolidation companies and they went through my monthly bills and came up with a payment I can afford. It is working very well! I went into the program with a little under 4,000 in debt and I am a little more than halfway through paying it off. Of the seven credit cards that I have, I had interest rates some around 25-35% and now the highest interest rate I have is 9%. I can't beat it! They automatically take their money every month out of my account and they pay my creditors. It is so nice to no longer have them calling me, harrassing me for payments, and even calling my work! (talk about embarrassing!!) I have a line of credit through my bank that I still use from time to time but it is manageable and I also have my car loan that I've never once been late on.

My credit score is actually higher now than it was before I went into this program. I am around 685 now, which for a young person with a previously high debt to income ratio, thats not bad! By this time next year, my car will be paid off and so will my credit cards! I can honestly say that knowing that is coming, is by far the best feeling in the world!! There have been times that I wished that I still had a credit card to use, but at the same time its nice not having to keep up with it anymore. I can't say that I wont aquire any more debt once all of this mess is done bc I'm really jonesin to get a new car, but at least I know how to be smarter with it!

Goodluck in whatever you do, but if you'd like more info on the credit consolidation company, let me know! I go through American Consumer Credit Counseling and have been happy with them so far (2 yrs now). http://www.consumercredit.com/

I understand your frustration (maybe not to the same extent), and I hope you can find a way to make it work. It's tough when you owe, and you just dont have it to pay....can't pull blood from a stone!

Congratulations Sara. It can be done. It just takes time and persistence. Good job!

quote Originally posted by Songman: If you will let me, I'd like to send you one of my Dave Ramsey books.

hey,
thanks for the offer. I was thinking about getting it myself. although I hate to read.

From what I've heard about it, He talks about cutting "extras" out.
well I don't have many extras to cut out.
I maybe eat out 2 times a year. (actually I get take out from a local BBQ place.)
I don't have a phone line.
I dont have cable TV
I only have insurance on my daily driver.

and my second job is me working in the garage every night for money under the table.
But at least I am "kinda" home with the family

[This message has been edited by buddycraigg (edited 11-04-2009).]

Edit: Just noticed I somehow double posted.

[This message has been edited by Khw (edited 11-08-2009).]

quote Originally posted by maryjane: never2old, does bankruptcy allow one to keep everything they bought on credit and they never ever have to pay it off?

My parents filed for bankruptcy 7 or so years ago. In California at the time you could protect I think it was 3 assests when you filed. My parents chose there house, there 89 Camaro convertible and my Fathers retirement plan. They had to have there Dodge Dakota voluntarily repossesed. Everything else could have been siezed and auctioned off. Reality is though, it's not usually worth it to do that unless the items are of significant value. How much is a used pair of jeans going for? A computer at auction? A used couch?

Right before we left California my wife and I had visited a bankruptcy lawyer. We didn't file and still haven't but we did look into it. We have the car that was repossesed from us that we could go bankrupt on and a few old debts otherwise but the biggest debt would be uneffected by a bankruptcy. I can't go bankrupt on my student loans.

As to our car being repossesed and our financial troubles. Long story short, 5 years of custody battles in court which finally paid off with me having souls physical and legal custody of my daughter from a past marriage. During that time we lost our son 22 hours after his birth. That was a major unexpected expense that with everything else crippled us and we lost our car and the mobile home we owned. We were in it pretty bad for along time. We still are trying to get caught up on past debt from when we lived in California.

[This message has been edited by Khw (edited 11-04-2009).]

Couldn't you take out a loan using your home as collateral? This should give you lower monthly payments, at a fixed rate, than what you have to pay for with the credit card. You should sell some of the vehicles you don't use to raise some money to pay off your debts, they only are depreciating in value sitting there.
You should refinance your home mortage if you can get a better loan rate than what you have now. This will lower your monthly payments on that loan, you could even get a shorter term loan.
These things will help stretch your money further, but you may only be able to do one major one at a time. Don't try to go for bankruptcy unless you want to have bad credit for up to ten years. Don't use your credit cards to give yourself more loans, in other words, don't spend any money you don't have.
If you don't have health insurance, get some, even if it just covers catastrophic events. You never know if you will need it and it will certainly be worth it if you do. You can have a high deductable to lower the premiums, just make sure you can afford it.
If your job future isn't good, you might consider looking for a better paying job with more advancement opportunities. Does you wife work? Any additional income is a plus. You need to plan for your future. Set goals and make plans on how you can get there. Living paycheck to paycheck means you will never be able to retire comfortably.
My plan is to retire as a multi-millionaire and I have twenty years left in which to achieve this. I haven't worked in the past two years by the way, and my son started college this year, but these are just minor inconveniences right now. Once I get back to work my goals will be easily achieveable within the time frame I have given myself.

[This message has been edited by avengador1 (edited 11-04-2009).]

quote Originally posted by buddycraigg: Actually if I didn't have a 4 year old son, I would probably go to japan to teach English.

I hope you don't think I was judging you or bashing you with my one post, because I was not. Let me offer you this thought. How can you contribute to your son, if you are an empty vessel? If teaching English in Japan would be a financial boon, I say do it. Sell everything you can, move to Japan, take care of the debt and then come back as a Father who can truly give and contribute to your sons life. I AM NOT TALKING ABOUT MONEY. The debt is taking it's toll on you and there is little left for you to give emotionally because there is not much to pull from. It is clear from your contributions on this forum that you have the abilty. Explain it to your son, tell him you will be back. you will be surprised how much he will understand. Whatever you do, if you say you're coming back, then be a man of your word and come back. I don't have much more to offer you, and I know talk is cheap. PM me anytime for talk and I'll will by you the Dave Ramsey book if you want it. If I can find it on tape, I'll do that instead. Good luck to you Buddy, hang in there. You are in my prayers.

Jim

How good of a mechanic are you? Any formal training or certifications? You might be able to get a better paying job as a mechanic.
Or possibly take a 2nd job as a mechanic? Yes, it keeps you away from home, but I'm thinking something temporary until you can get back on your feet or find something that pays well enough to have just the 1 job.

If you can't cut expenses, see if you can find a job paying more. (I know it sounds trite. Sorry about that, but I mean it sincerely)
Also, do you have any equity built up in your home? What is your interest rate? Can you refinance to lower your payment? You might also ask if your bank will "recast" your mortgage.
What is your house worth now? How much are apartments compared to your mortgage and homeowner's bills? Would it be feasible to sell the house and move into an apartment and take the proceeds from the house to pay the bills? Unfortunately, that makes it very difficult for you to get back into another house. Not a great option, but an option.

You might also ask if your bank will "recast" your mortgage.
If you can't refinance, recasting will re-amortize your mortgage at your current terms, but since you've been paying for 11 or 12 years, the principle is lower, so your payments are lower. The down side is if you're on a 30 year mortgage, you'll have a fresh 30 years worth of payments to make instead of just 18 or 19. Just avoid these "Pick-n-pay" mortgages that let you choose how much to pay because they can have negative amortization make your balance go up. With a recast, your mortgage terms are exactly what they are now - you just start over with what you currently owe as the total loan amount.

After I graduated HS I got my 1st CC. Maxed it instantly. It was like $500. I did real well with payments on that and about 3 other cards. Until I moved out and had other bills start compounding. I got in a hole I could not get out of. I filed in 2004. By Nov. 06' I had bought a 07' Impala and finally had my crap back to where it should be. It was a hard decision for me to make. I almost felt as if i'd been beat and I gave up. But being married with 2 kids and having bills from my past haunt them was no way to live. I screwed up when I was yngr but I used to the system to my benefit before the NYS laws were changed.

PLEASE EVERYONE.
I have not been offended by anything said by anyone.
So stop saying you're sorry.

I'm the one that got myself into this mess and I am the one that is sorry.

For 10 years i have been using a styrofoam cup as a bilge pump.
And I'm tired.

So if I file...
CONS
I have bad credit for 10 years. But I don't plan on moving and I don't need a new car.

PROS
I have more money in my pocket to spend on the family to do "fun" things.
I don't have to work in the garage at night, every night, so I'll have more time to spend with the family.

I'm to my breaking point.

I have some legal/family matters that I have to deal with before i make a decision.
but once that is over...

I'm going to pick a path.

Time to talk with a bankruptcy attorney and get some professional advice on what your exact options are.
Just the peace of mind may be worth it if you file.

Good luck.

quote Originally posted by buddycraigg: pool table, new, bought with the money my grandmother left me when she died, so I could remember her by, about $2500 about 10 years ago. 1985 fiero GT, used, given to me in pieces about 6 years ago. 1984 fiero, used, paid $300 for it. i probably put $3000.00 in credit cards for putting a V8 archie kit in it around 1998 1967 Catalina, used, paid $1200 for it. I bought this car in 1992 and really haven't spent too much on it other than replace the engine. about $1200 to rebuild and install a 455 buick engine. but I cant remember if I used a credit card. 1985 Kawasaki 900 ninja, used, with body damage. paid $1500 for it in 1992 (yes, i was still living at my mom's house in 1992) 1996 Grand Am, used, paid the mother of a close friend $900 for it about 2 years ago. <SNIP> I gross 575 a week 1800 would be plenty enough for me to support 3 people in my house each month, if I didn't have to spend 800 of it towards credit cards. Or I could make larger payments if I didn't have to support 3 people. After 10 years, I just am starting to doubt that I have any way out. <SNIP> PLEASE EVERYONE. I have not been offended by anything said by anyone. So stop saying you're sorry.

No problem, I won't say I'm sorry. You f**ked up, and I'm going to offer you the VERY painful, but only way to resolve your issues:

1 - Go to a debt consolidation place. There are a bunch of links that people have posted here. They will immediately get you off the credit cards, and lower the debt you CURRENTLY have, and help you work towards paying it off. Don't make any huge payments UNTIL you've done this as most of what you pay will just be interest. Take care of THIS first.

2 - Sell the pool table. I'm sure your grandmother would want you to be more concerned with your children's future college education than you having a pool table. (seriously)

3 - Look at the vehicles you have in the list above you. You definitely want to keep the 96 Grand Am (I had two 97s, and they are pretty decent cars). But you should sell everything else there. You can get a lot of money for that Pontiac Catalina, especially with the built up Buick 455. You can also get at least 3 grand for that 84 Fiero with a V8 in it. You should also sell that Kawasaki Ninja. I'd be willing to bet you could (at the very least) wipe out 1/3rd of your debt JUST by selling most of these spare cars and the pool table.


If you're not willing to do all three of these, then you're either too nervous / scared to make the call, or you don't care enough.

Yeah, I'm being kind of a dick about it, but that's only because I actually care. Otherwise, I wouldn't be bothering to post in here.


I guarantee to you that if you do everything I just said, you will have your debt paid off in 2 years... maybe even less.

As a matter of fact, the debt consolidators might even be able to help you with your home mortgage (don't let them refinance and put your debt into the house). You might even have your home paid off in 4-5 years. How awesome would that be... to OWN your house and only have to pay for home owners insurance and property taxes? (and utilities)?

Your life is miserable right now with debt... have you ever been debt free? Do you know what the feeling is like when you make that last payment on a loan or car loan and it's paid off?


If anyone here agrees with my assesment of what I've just said, PLEASE reply with a THUMBS up.

This is your ONLY option...


NOTE: I'm posting the picture of the USS Missouri because it's an awesome ship, but also so that this post totally sticks out and so that you see it. I might even copy this entire thing and PM it to you so you won't let yourself pretend you didn't see it.

------------------
Todd,
2008 Jeep Patriot Limited 4x2
2002 Ford Explorer Sport 2dr 4x2
2002 Ford Crown Victoria LX
1987 Pontiac Fiero SE / V6
1981 EZ-GO Xi875-A "Miami Dolphins" Medical Cart
1973 Volkswagen Type-2 Transporter

[This message has been edited by 82-T/A [At Work] (edited 11-05-2009).]

quote Originally posted by 82-T/A [At Work]: If anyone here agrees with my assesment of what I've just said, PLEASE reply with a THUMBS up.

I'd of said it myself but most people don't wanna hear about "make it right" as opposed to "how can I work the system to my advantage and keep all the stuff I bought with no money" - or credit as it is popularly called.

Absolutely Todd! I didn't want to directly mention selling the stuff but I did think it. I figured that is Buddy's decision to make. I am sending him my Dave Ramsey book and Dave will suggest it.

Buddy, in my opinion, Todd is right on with what he said, including the time frame. Two to three years and you could be debt free if you really jump into it.

quote Originally posted by 82-T/A [At Work]: <snip>

I totally agree. I just couldn't bring myself to be so harsh about it. I don't know Buddy, other than here on the forum, and I don't feel I have that liberty.

Jim

quote Originally posted by jimbolaya: I totally agree. I just couldn't bring myself to be so harsh about it. I don't know Buddy, other than here on the forum, and I don't feel I have that liberty. Jim

thank you everyone for your replies.

It looks like I will being filing.

I am not willing to give up my pool table due to sentimental reason of my deceased father and grandmother.
I am not willing to give up my Catalina that I've had for 17 years.
I am not willing to give up the V8 fiero that I've had for 11 years.
I will die with all three of these items in my possession

[This message has been edited by buddycraigg (edited 11-05-2009).]

Well, if your gun collection hadn't been 'lost' in the boating accident, you could sell them to pay down your debt?

sleeping with fishes in their blanket of cosmolene?
Gamo Auto 45 (yes, it's a CO2 pistol. get over it)
Ruger Mark III 22/45
Colt Mustang Pocketlite .380
Springfield XD9SC
AMT Backup .45
S&W Model 2 (grampa's gun)
Mossberg 500A Cruiser 12gauge
Browning 22 auto rifle (my first gun)
Ruger 10/22 Bull barrel
Winchester Model 61 22 (dad's gun)
(on order) Kel-Tec SUB-2000

[This message has been edited by maryjane (edited 11-06-2009).]

thank you everyone for your replies.

It looks like I will being filing.

Each state will be different so check with your attorney about the pool table. Unless its got a great cash value to someone, I dont see someone else giving a crap out it any more than your coffee table. Worse case is move it somewhere else for time being. On the cars, you will prob have to list them as assets, but go for very minimal value using an appraisal or something like ads from EBay or Craigslist even if you have to say they dont even run (unplug something if someone comes to check them). Your state may even say you can keep one car thats paid for. Just like buying a car, you can vastly underquote what you pay in a cash sale. DMV had no doubt of the $500 I paid for one car thats now insured for $30,000.

quote Originally posted by buddycraigg: thank you everyone for your replies. It looks like I will being filing. I am not willing to give up my pool table due to sentimental reason of my deceased father and grandmother. I am not willing to give up my Catalina that I've had for 17 years. I am not willing to give up the V8 fiero that I've had for 11 years. I will die with all three of these items in my possession

Well, don't ever expect my pity then. You're basically saying to me...

"I don't care that the rest of you have to pay for my mistakes. I don't feel like suffering the consequences of my actions. You all can just go to hell."


By the way, I seriously doubt your grandmother intended for you to buy a brand new pool table when she willed to you that money. I'm sure she would have been much happier if you had saved that money for your children's education. This is just an excuse. You posted this on here, so now you're going to get judged, and I'm only too happy to do it.

As soon as you push off all of your debt to me and everyone else on here that's living in the US, the same thing is going to happen all over again. You're going to spend more money on the credit card to "finish" those projects you have. You'll figure... what's the big deal, no problem... I can handle it. You'll never learn, and you're going to end up doing the exact same things. This is also the LESSON you're going to teach your children, and they'll end up the exact same way. Are you a Democrat by any chance? I hope they force you to sell those things.

quote Originally posted by maryjane: Well, if your gun collection hadn't been 'lost' in the boating accident, you could sell them to pay down your debt? sleeping with fishes in their blanket of cosmolene? Gamo Auto 45 (yes, it's a CO2 pistol. get over it) Ruger Mark III 22/45 Colt Mustang Pocketlite .380 Springfield XD9SC AMT Backup .45 S&W Model 2 (grampa's gun) Mossberg 500A Cruiser 12gauge Browning 22 auto rifle (my first gun) Ruger 10/22 Bull barrel Winchester Model 61 22 (dad's gun) (on order) Kel-Tec SUB-2000

No doubt, paid for with these credit cards while his children have no financial means to get into college when they graduate from grade school. I'm sure they'll be pleased.

------------------
Todd,
2008 Jeep Patriot Limited 4x2
2002 Ford Explorer Sport 2dr 4x2
2002 Ford Crown Victoria LX
1987 Pontiac Fiero SE / V6
1981 EZ-GO Xi875-A "Miami Dolphins" Medical Cart
1973 Volkswagen Type-2 Transporter

[This message has been edited by 82-T/A [At Work] (edited 11-06-2009).]

Buddy - I've weathered some hard times of my own in the past but I've never had to consider bankruptcy, so I can't help you there. I'm not an attorney, so I won't comment on some of the legal (and illegal) advice that's been posted here. And I certainly wouldn't deign to pass judgment on you or any another person based on incomplete knowledge of the situation. I do, however, suggest that you consider two points:

1) Think YAHOO: "You Always Have Other Options." There are many possible solutions that lie between the two extreme choices of (a) remaining where you are now, or (b) filing for bankruptcy. Neither you nor I know what they all are, but a legitimate credit counseling service will know most of them. There are free (or very low cost) non-profit credit counseling services available in the Kansas City area; talk to one of them before you do anything else. If you talk to an attorney first, the old saying "When all you have is a hammer, everything looks like a nail" will probably apply. You need to be aware of all the choices that are available to you.

2) Consider that most states limit how often you can be granted bankruptcy, usually 7 years. If you take voluntary bankruptcy in (say) 2010, what will happen if you experience a catastrophic illness, accident, or other calamity that runs up very high bills in (say) 2011? The legal defense that bankruptcy provides, and is intended to provide, won't be available to you again until 2017. You will have no protection at all against having your wages garnished and/or your property taken from you to satisfy your new debts. That's a grim prospect, I know, but it's something that you need to consider.

Whatever happens, I wish you well. You're a bright, talented, and generous guy who seems to be, for whatever the reason, often behind the power curve in life. Once you get your financial situation under control, you might want to check into that, too. There are probably more possibilities out there for you than you (or I) can ever imagine. YAHOO.

[This message has been edited by Marvin McInnis (edited 11-06-2009).]