@Anonymous wrote:
@TRC_WA wrote:
I'd pay my creditors. It's a pride thing ya know...
Anyway, good luck.
Your post makes zero sense. A few posts above, you say that you filed chapter 13 and wished you'd filed chapter 7. Here, you're bragging about paying creditors over giving to charity. You can't have it both ways.
IMO, pride and "doing the right thing" by paying off creditors is purely a financial decision. Filing BK isn't free--there's a huge hit on your credit report. I weighed the hit on my credit report versus my ability to pay off the debt and it made sense for me to file BK. It will not make sense for other people.
But no, I don't feel sorry for the creditors who "lost" money by me filing BK. The reality is, I've more than paid back what I originally borrowed because I was paying exorbitatnt interest rates for years before I finally lost a job and just couldn't keep it up any more. (Yes, years. I found notes from a Dave Ramsey book I got in 2009 when I first lost a job. Among the highlighted portions were the part saying BK is bad. I really wish I hadn't listened to him. I lost most of my retirement by trying to pay off debt for 5 years instead of filing BK as soon as I couldn't afford to pay creditors.)
Nah... if anyone is bragging in this post it's guy who is OK with not paying his debts but is OK with giving to charity in his wonderful life. We all signed on the dotted line agreeing to terms and conditions regarding credit (and the interest that goes with it).
Sure if I had to do it all over again I'd probably file Ch 7. All I see on these forums is how great Ch 7 is... burn everyone 100% and within 2 years you have a fresh rebuilt profile and life is good.
If I were to loan money to someone the person who paid me back would most definitely get the preferential treatment over someone who didn't. I was stupid for thinking that also applied to the financial world because anyone who has filed Ch 13 knows WITHOUT QUESTION that they get the shaft compared to the Ch 7 filers who say "Oops, I can't pay you back" and then go shopping with their brand new CCs while the Ch 13 filers are stuck in a payment plan for 3-5 years.
It's a rant that will never get old... and everytime I see a "Look at me I filed Ch 7 and now I have $100k in new credit plus a new car and a new house!" it strikes a nerve... It is what it is.
You don't know the feeling because you didn't file Ch 13.
Rant over. 
Let's all stay positive We all came here to learn and correct the mistakes we made
@Scupra wrote:Let's all stay positive
Absolutely. I think you all know me by now. Take my rants with a grain of salt... in the end it's more me just frustrated with the system as a whole and definitely isn't personal.
Absolutely! I have no problems with you even though you hate my NFCU cards 
@TRC_WA wrote:It's a rant that will never get old... and everytime I see a "Look at me I filed Ch 7 and now I have $100k in new credit plus a new car and a new house!" it strikes a nerve... It is what it is.
You don't know the feeling because you didn't file Ch 13.
Rant over.
Lol. Look at the bright side. To file Ch. 7, you have to be in pretty bad shape. Ch. 13 means you at least had something to live off of. When I finally decided to file Ch. 7, our family of 3 was making $500/month in food stamps and that's it. Actually went down to $200 one month as they made a mistake in one month's payment that they corrected for later months, but didn't give us credit for. When you live through that, you would have loved making so much money that you aren't eligible to file chapter 7.
@Scupra wrote:
Absolutely! I have no problems with you even though you hate my NFCU cards
Actually I don't... I'm just amazed at the limits that NFCU gives people with BR on their credit and/or no high limit CC experience. BECU made me wait 6 months to even get a card... then gave me $7k which is now $10k. Only took a year to get here.
@Anonymous wrote:
@TRC_WA wrote:It's a rant that will never get old... and everytime I see a "Look at me I filed Ch 7 and now I have $100k in new credit plus a new car and a new house!" it strikes a nerve... It is what it is.
You don't know the feeling because you didn't file Ch 13.
Rant over.
Lol. Look at the bright side. To file Ch. 7, you have to be in pretty bad shape. Ch. 13 means you at least had something to live off of. When I finally decided to file Ch. 7, our family of 3 was making $500/month in food stamps and that's it. Actually went down to $200 one month as they made a mistake in one month's payment that they corrected for later months, but didn't give us credit for. When you live through that, you would have loved making so much money that you aren't eligible to file chapter 7.
I dunno... I filed Ch 13 on an income of about $38k while a resident of low COL Georgia... and I had minimal assets. A car... less than $2k cash on hand... like $10k in a 401k and a house full of belongings. I was clueless at the time to BR and followed my attorney's advice to file a 13. (You'd think if he was just after getting paid that he'd steer me in the Ch 7 direction so he could get his $2k up front right? His fee was included in my Ch 13 plan which he didn't end up collecting until about a year after I started making payments... due to the fact the IRS got their tax money first as a priority creditor)
Could I have filed a 13? I don't know, I assume so. Would I? Maybe. It's hard to say. My attorney never mentioned Ch 7 that I can recall. He's a reputable attorney and I have no regrets about going with him either way.
@cem13 wrote:
I agree. The banks made thousands of dollars off me. I was making the minimum payment for about 7 years before I filed BK7. I understand what TRC is saying. Without sounding brash, he/she sounds a little jealous. I guess I was very lucky. I have almost $500K in my IRA/401k that the Trustee could not touch. I had just lost my job so my income was $0.00 (save $400 per week unemployment). My house was underwater so the Trustee could not get anything there.
So I am very lucky and I know that. Things just fell into place, almost like Devine Intervention. So I am not complaining. I am in the top 1% of people who benefited greatly from BK7 and I am helping those who are less fortunate every month.
Not to anger TRC anymore
So TRC, I understand what you are saying. But BK7 is legal, moral, and just. So you may not think it is right but it was OH SO RIGHT for me.
Of course I'm jealous.
It cost me 4 years of payments and over $20k to get to the same spot you got in oh... 3-4 months of BR7 proceedings and a $2k (or less?) attorney fee? The fact that you have $500k in an IRA that couldn't go to your creditors doesn't surprise me at all.
Not in the slightest. I think it's hilarious actually and just reinforces my point that the system is still flawed despite the fact that it was overhauled in 2005. The government claims the overhaul was to make it more difficult to file Ch 7.
Bleh... as I've said my rant isn't on a personal level, it's more me against the system.
I got screwed and get to watch others reap the benefits. Oh well. One thing I'm not is angry though.. I'm over it. I still will voice my opinion but either way I'm 6+ years into it now with less than a year to go until all my CRs are free and clear. It's a nice feeling considering I paid $20k for it right? LOL
Don't take my opinion personally... I feel the same way about the lady I once saw in line in front of me at the grocery store. She tried to pay for her dog food with EBT food stamps... the cashier declined the purchase and the lady got all irate and walked back to the meat locker and grabbed a few steaks and bought those instead... then I watched her husband pull up to the front of the store and help her load her groceries into her Lexus.
Have a good one.
