All around the country bankruptcy rates are through the roof right now. According to the Administrative Office of the Courts, non-business bankruptcy filings increased 28.4% from June 30, 2007, to June 30, 2008, and I imagine that it will be even worse this year. People are really being hit hard by this economy and find themselves too far in debt to dig themselves out.
Unfortunately, my family has been one of them. Our story is a little different than most, I think, and I will share it with you later.
As we contemplated filing for bankruptcy, I searched online for personal experiences with how it works, how it affects your life, and how you try to recover from it. I could find little snippets here and there, but not much detail. A few weeks ago, I had the brilliant idea to start my own blog about it! I wish that I had thought of it in January when we were preparing to file so that I could have chronicled that part of the journey, but such is life.
We filed for bankruptcy on January 29th. The whole month was spent in a haze of gathering paperwork and culminated with 2.5 hours in our lawyer's office on the evening of the 29th trying to get all the paperwork done correctly. (We needed to file that day because my husband would receive his monthly paycheck the next day and that would have messed up everything.) It was all completed successfully though, and now we are about one week away from our 341 hearing.
I look forward to sharing with you how we got into this situation in the first place, things I learned as we prepared to file, and what comes next! (I wish someone could tell ME what comes next!)
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