So I completed 12 “short months” of a 60 month repayment plan. In that 12 months I have made spending habit changes, eating habit changes ( a lot less ribeyes), and total lifestyle changes. I must say this has truly been an eye opener, and while I’m on this forum on a daily basis I’ve come to the conclusion that the bankruptcy system like the healthcare system, the welfare system, the judicial system and so many others is broken. Because I make over a “state median” income I am under the watchful eye of an attorney and trustee for every aspect of my financial life (raises, bonuses, loans, tax filing/tax returns etc) for 48 more months. So after doing this for 12 months, in MY opinion being able to file a CH 7 should not be an option. From what I’ve read on these posts most CH 7 filers who are so upside down on car loans, had unsecured credit card debt are so eager to get rid of that car and wipe out those credit card balances just to jump in again on the day after discharge, and it’s only because they can. As you read this post, look back and search for how many Ch13 filers are looking to “rebuild” as we call it on this forum. Believe me after spending $1500 mo on this repayment plan I will not be in a hurry to ever apply for any type of credit as I would have learned to live without it. Again this is just my opinion and I hope no one takes offense to it but, it just erks me that my whole financial life for the next 48 months is scrutinized while others walk away in 3-6 months for the same financial mess we got ourselves into. Have a wonderful day. End of rant.
Welcome to the club and the time will continue to fly by while in 13. I just hit 36 months myself. I used to think like yourself as well, but credit is not a bad thing, well not to me at least, it's all about how you manage and maintain the credit. This board has taught me how to PIF and not give these companies interest. I've managed to start my rebuild while in 13 and it has definitely taught me to be more responsible while still being as frugal as possible.
Well look on the bright side. Imagine if there wasnt any BK laws created years ago. We'd all be in a world of hurt.