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College Loans

I’m ok with calling it luck, I’ll call it what ever you want to call it as long as the ending turns out the way this one did. In my post from two weeks ago (Denied for a student loan) I shared with you our latest problem stemming from our bankruptcy. If you didn’t read it, in short, the company who funds the Salle Mae loans ran my wifes credit and discovered her our bankruptcy. Here’s what they said: Read more

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Since the discharge we have held our heads up high and have even obtained a credit card (high interest/low credit limit, of course). We’ve become very focused on paying our bills (on time) and trying to save any money (when ever we can). I am still working (thank God), both of our kids will be in school this September and my wife is 5 classes away from finishing college. That means we’re months away from dual income and getting out of this hole.

We’ve learned to live within our means. We now cut coupons and print them from the internet Read more

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When your turn is called and you get to sit with the Trustee in the front of the room. You take your place in the seat or seats opposite from him/her. Our attorney was to our right and to our left was the stenographer, transcribing every detail.

And so it begins….

After swearing to tell the truth (so help us God) he asks us to first question:

How did you end up in Bankruptcy Court? I explained our situation and that companies were not spending money in my industry anymore.
Read more

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Bankruptcy Court:

The day had finally arrived and we were to be at the Bankruptcy Court by 10:30am. This actually worked good for us, we were able to get the kids on the bus and based on what they attorney told us, we’d be home in time to pick them up from the bus. The attorney had requested that we meet him at 10am for a final review and some coaching.

As we drove to the courthouse we both stayed silent. Everything that could have gone through my mind (in that ride) did. Like, why is she so quiet? Is she that disapointed in me? What would the judge ask us? I wonder if we’ll get our next tax return. Did I disclose everything? Why isn’t she saying anything?

Then out of the horizon (or the right from the parkway) we saw it. The Courthouse. It stood as tall as the sky would allow and the parking lot was sea of cars. She reached over and took my hand and said “we’ll get through this together” and like that I found a spot and parked my car.

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So there is a change of events. I came home from work today in a fairly chipper mood. Someone at work gave me baseball tickets for this weekend and I’m one week away from getting my first paycheck at my new job. I’m greeted by a fairly thick envelope in the mail, that is from an attorneys office. I open it to find this attorney represents the bank that holds my mortgage and is looking to foreclose on our house. It states Read more

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We received the letters yesterday. Two letters arrived at our house, each addressed to either my wife or myself. Both are for the same time, place and judge at the New York State Bankruptcy court. It’s kind of a weird feeling to know that this time next month it will be over. I won’t (or at least I can hope) receive any more calls at work, at home, to the neighbors or disjointed family across the country giving me messages from creditors. Read more

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The calls to my job and home have increased. They’re getting cleverer on how they try to reach me. One company called the operator and asked them to walk to my desk and get me. All that got them was a no and it got me spoken to by my boss. The letters are becoming more demanding and honestly scaring my wife.

Neither of us ever wanted this to happen. We’re devastated by the fact that we’re about to go through this. We’re embarrassed Read more

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Last night, my wife turned to me and mentioned she has noticed I’ve been calm and not so “cranky” (as she put it). I have to admit, I’ve even caught myself smiling over the last few weeks. It’s certainly not from the feeling of getting by and able to make my minimum payments. God knows I’ve we’ve tried. Nor do I attribute this new crescent like feature on my face to the debt collectors no longer calling. As a matter of fact, it’s worse now since we didn’t pay our last payment to the consumer credit counseling service.

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