Does anyone plan on filing Bankruptcy in the next few months or are currently in Bankruptcy?

I filed this week.. I did it myself, just bought a book online and downloaded the forms. I filed chapter 7 and the filing fee on that right now is $299. Lawyers were quoting me over $1000 since my local court requires a court date if you choose to reaffirm a vehicle. SO, I decided to do it myself. If I would've had $1,000+ lying around I wouldn't be filing for bankruptcy.

You should take a look at the options you can find at: CREDIT-AND-FINANCE.COM-

RE Does anyone plan on filing Bankruptcy in the next few months or are currently in Bankruptcy?

Just Curious. If so how much did you pay or are going to pay?

I've never filed...but I know a fair amount about the issue: - Are the creditors/service providers taking aggressive action on this debt to the point of suing you? If not, there may not be an urgent need to file. Sometimes they just write off the debt and walk away from it. - You can add just about any debt that is not related to taxes, child support or student loans. - Filing for Chapter 7 does not destroy your credit rating forever and you can have good credit again in as little as 3 years out of filing There are some that like to exaggerate the negative effects of bankruptcy. Sometimes it's the best move...do what's best for you. - Your credit will be really bad for at least 2 years after filing. - Filing for bankruptcy probably will not affect your getting a job and it may look better than huge unpaid collector accounts on your credit report. - You will almost certainly need a cosigner for any student loans if you file. - You need a lawyer, not a paralegal to file....The cost to file will be around $1,500 to $2,000 on average. - Be careful: If you don't have health insurance and you file for Chapter 7 now...then you won't be able to file again for EIGHT more years.

Depends on your state.

I live in California and walked about 3 people through BK 7's in graduate school (there is a surprisingly high number of people in grad school that run out of money).

It should cost less than $300 to file, plus costs if you have an attorney / legal assistant help. I found a service that cost less than $250 to do it and it was a simple questionaire they had you fill out. No need to show up in BK court either.

If you are thinking of BK, just remember a couple things that I learned along the way, especially with experience as a credit manager:

1) Keep one credit card with a zero balance that you do not include on the BK

2) Get the car you can drive the next 3 years now. You can discharge all vehicles except your primary transportation

3) Learn to live off cash- this will be your only choice for a while. For example, if you spent $1,000 per month on bills that disapear through the BK, then take $250 per month and put it in a savings account. Take another $500 and pay off other bills. And take a little of that money and get something nice. The idea is if you don't have the bills anymore, you should instead learn to live of paying for things immediately, not with credit.

Imagine the difference between buying a car and paying for the next 5 years, interest and all. Instead, save the money for 5 years and buy the car you want with cash. As your bills will be forgiven in the BK, you should have no problem at all saving to buy things, not buying things and paying it off.

Good luck!

Well as a small business owner, and soon to be former job creator/employer, more than likely.

Bank of America is pulling a loan and we have until next Friday to come up with $244,000.

4 people will lose their jobs, we will lose our 25 year old business, our building, our land contract and our home.

Meanwhile, Bank of America keeps going back to Washington because their revenues are falling.

Wonder why when they take credit/loans away from people that are still making each and every payment.

So, yes, bankruptcy is in my future. But, because it involves 2 businesses and personal, we will probably wait until a creditor forces us into it (like BoA) because we don't have the $20,000 plus we need to file.

The government and their banks are finishing eliminating the non-government middle class. Off shoring wasn't enough, so now they have resorted to taking away our credit.

And my fellow citizens are sitting idly by waiting for the devastation to hit them. It will sooner than most think.

By the time it hits everyone, it will be too late as the government will have no credit left to feed us all.

Good luck to us all.