Bankruptcy

Hi everyone, while I was manic, I would go on shopping sprees...get credit, lines of credit everything...I would want to go shopping with others who wouldn't have money so I would buy things on my credit and they would pay me back....anyway...I am now very much in debt....and I tried the debt consolidation thing but now I am not working...do I have to claim bankruptcy....if so will I automatically lose my car? How many of us have claimed bankruptcy?

[Jikan]

Namaste,

I can relate to your story because I also like spending sprees when I'm manic.

I declared bankruptcy about 5 years ago and got to keep all my personal belongings and my car. I didn't own a home, but it didn't effect my rental apartment.

Now, after 5 years my credit is better than it was before I filed since I haven't been on anymore spending sprees.

I researched the debt consolidation process and found out I'd still be making monthly payments without alot of cash left over. Bankrupty eliminated all my debt and allowed me to have more cash in hand each month.

Whatever direction you choose to take, I wish you good luck.

Michael

[Venora Moonwind]

been there done that on the shopping sprees.Luckily I didnt have to file bankruptcy and I pray that is a solution for you. We helped my mom file for it  for when my dad died and left here with a huge debt and no life insurance.
She is like Jikan now and better off  financially now than when she was married to my dad.
Hubby helped me pay off my credit cards by doubling up on the one with the least debt. and making min payments on the others. Then when that one was payed off we would go to the next least owed and take the same payment from the  payed off one and apply to the next .We eventualy paed off everything in about 2 years and now I am stable I have not done that since.

Good luck to you and let us know how it goes for you.
Love Venora

[Lizz67]

I have BP l.  I filed for bankrupty with my ex- as a decision we were advised to make by a lawyer during our divorce three years ago  We didn't have a lot of personal debt, but we didn't earn a lot of money, either.

Not long after I began to have trouble keeping track of my expenses and keeping track of paying bills and communicating with creditors.  This was mostly due to my depressions as well as being devastated with trying to handle my new life.

I'm very glad I did it, but several things have gone back into collection so my credit's not improved yet.  I am a very smart person, but somehow I have a  hard time keeping all this financial stuff straight.  I don't know if it's just me, from my BP, or my meds.

But I wish I had some professional help with my bills, finances.  My elderly father had a financial helper through a community agency, but there's nothing like that where I am for people with mental illnesses.

Also, I know the bankruptcy laws changed in '05, but I don't know anything about how that might affect you, with a medical problem.  It's definitely worth checking out