Bankruptcy
 

At what point do you just give up and just declare bankruptcy?

We did an addition on our house and our finances got all screwed up. Got myself into a friggin horrible mortgage because I didn't really read into it the way I should have. Never got some money back from the contractor that we expected to. Now I'm way over my head in debt and just freaking the F' out.
I'm at wits end. Anyone declared bankruptcy before? I hate myself. :(

Hey Tug...sorry to hear...but things happen, don't beat yourself up over it(easier said than done I'm sure,) it'll just make things worse. Check out Suzie Orman, well know financial adviser, her books/tv show really help out a lot of people, puts things in an understandable perspective.

You really should meet with some financial advisors before you do anything. I mean i know that you have to prove to the government there is nothing else you can do before you file. But maybe you can get something setup with a debt consolidation plan.

Good luck with everything and hope it works out for you.

There are things you can do and I know you have tried to get rid of that screwy mortgage of yours and it's a shame you couldn't. I would look into consolidating through a company that pays the bills off for you and you pay just one bill back per month. Claiming BK is a serious thing to do....I see many foreclosures, BKS, etc. on a daily basis as I work for a financial lending company. If you want, I could direct you to someone here that may be able to help you. Let me know. :(

dont talk to me

Acually Mike you were on my list of people to get ahold of today. I just needed to vent, try and not kill someone, and not burn my house down before I did. I'm just so pissed at myself for letting it get to this point, even though I have been trying for a long time to try and get this straightened out. Looking back, I have no idea what the hell I was thinking when I got into this mortgage crap. Finally got the house I always wanted and now I can't pay for it. I suck.

Sorry to hear Tug....but don't beat yourself up about it. It is real easy to get into these situations. Definitely meet with a financial advisor and weigh your options. A lot of time they can offer financial plans to work you through these times.

Keep your head up and stay positive. Things have a way of working themselves out for the best...Good luck

You know, It figures Rock had to friggin move to Baltimore a little while ago. I REALLY could stand going to the shooting range today and just blast off a couple hundred rounds.

Thanks for the support guys (and gals).

I just hate myself for this still though. :arrr:

Who wants to buy all my stuff?

In all honesty, thats what you have to do...not everything...but unload anything that you're still trying to pay for, i.e. car/truck with a monthly payment, unload it and get a beater to commute in. Cut up any CC's with an outstanding balance...live on PB&J. Any bikes left, unload em(it.) Feel free to shoot me a PM dude.

Rock was here over the weekend and will be back again around Aug 1st. Hope that helps...at least you know you will/can see him soon. :)

The financial crap happens to alot of people. My brother and sister-in-law got into trouble after their second child was born. After all was said and done they finally ended up having to claim bankruptcy. They were able to keep the house & 2 cars. But, even after all of that they are still not doing great financially so in the long run it helped them and hurt them at the same time.

I got a Yamaha Warrior quad for sale. Who wants it?

$62,000.

What a bargain.;)

There's that sense of humor that will help get you through this! There's hope yet! Good luck dude! I'm trying to get my stuff together now too. I get mad at myself too, but hey what are ya gonna do! What's done is done! It's just a question of making it right from now on.

Dude are you nuts!!! I'd ask at least $85,000 for it. No wonder your in trouble givin shit away like that :)

Sorry man couldn't resist. Keep your head up and keep talkin to people. Good for you for takin responsibility and not blaming everyone else. That kind of attitude and responsibility will get you through it.

It may sounds stupid now, but keep a journal of everything you're doing/going through and blog about it when you're all done (or real time if you want). This way other people that get into a similar situation will know exactly what's going on and what to do. And if enough people are interested (I'm sure there are) you can even make some side money off of it. I read a story about this one kid that bought like 5 houses trying to become a millionaire flipper and went belly up fast. He kept a blog of everything and made a few thousand just from that.

be very carefull with bankrupcy..
new bankrupcy rules and laws are a bit diff..
you still have ot pay off your debts and etc.. its not like the way it was back in the day... ask an accountant