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As days go on, the more I’m finding the Bankruptcy popping its ugly head out, to remind us of our failures. This time it was for auto insurance.

In an effort to try and save us some money, especially since I had opened my 5th consecutive increase from Geico. I thought maybe shopping around for a new insurance company might be in order. Don’t get me wrong here, Read more

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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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I’ve been receiving a decent amount of emails since the last post, regarding what I/we kept after the bankruptcy. To be clear, we did keep our home (and both mortgages that go with it) as well as my car loan.

Prior to our meeting with the bankruptcy trustee our attorney reviewed the fact that we were in fact keeping our home and that I did want to re-affirm my auto loan. The bankruptcy trustee also verified this information. We did not lose our home or car. Don’t be afraid of that. Unless you are behind on your loan it is in the bank’s best interest to re-affirm your loan and keep you making your payments.
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.

Read more

I realize that it has been an inexcusably long time since my last post. My apologies for those who have come to this blog/site to learn about our trials and tribulations resulting from the Bankruptcy. From this point I will do my best to recount and highlight the court case, post bankruptcy, voluntarily repossessing my car and so much more.

2008 was a rough year for us but 2009 has started with our heads up and spirits high. I wanted to share this with you and get you caught up with what has happened…

My next post will be about the actual day in court. People should be prepared for the questions they will be asked, what they will see, what they should bring, etc. What you’re about to go through or seriously contemplating should be clear to you… I hope this helps.

- Joe

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We met with our attorney for what will be the last time before the big date. This time it wasn’t in his office, it was in the conference room with a woman that worked for him, a huge stack of papers and two pens. This was it. When we’re done in here we’re only a few weeks away from completing this bankruptcy. It was almost as bad as closing on our house. We signed and signed and signed… It becomes monotonous after awhile. If you’re anything like me, you’ll probably try a joke or two to alleviate the situation, let me tell you that is not a good idea. If you miss something in these papers it could cost you thousands of dollars in fixing it. Pay close attention, bring sugar, drink caffeine, do what you need to do to stay awake, focused and constantly asking questions.

Read more

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As a follow up, I spoke the next day (Saturday) with the attorney and boy was this a mess. I was exactly 34 days late on my mortgage (the prior month and 4 days into the current month). The bank took that as I wanted to include the loan in my bankruptcy. After many frantic phone calls to my attorney’s voice mail he finally called me back. Read more

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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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