Bankruptcy isn’t discussed here very often

Bankruptcy isn’t discussed here very often, but I am glad that it was.

Almost everyone I have corresponded with online who has gone thru BK say the same thing you do.. that they wish they had filed sooner. Amazing how these predators don’t even wait til one has their discharge papers before they start stuffing the mailboxes full of offers for credit.

Some of them are just dreadful with fee after fee. I guess they are hoping some people are desperate. Of course one of Capital Ones Vice President said the “newly bankrupt are itching to get their mitts on plastic and would swallow high interest to get it. Ha! Capital One is itching to get THEIR mitts on everyone’s money. They are not in my wallet! None of them are. I don’t trust them.

I was listening to a financial expert on the radio yesterday. She talked about credit cards. Then she reads what sounds like a laundry list of all the dirty tricks that may trap a person. Somethings just not right about the whole thing!

After reading the various posts I realize there are situations for which BK is a reasonable or the only option for some people. And I imagine that he was just referring to a list of famous people in the veign of saying, “Don’t worry if you have to file for BK, these people have done soo too.” No harm done.

You say Tom, that I don’t offer any advice. Well if I may offer some advice, here it goes. I hope you see this as constructive advice. You’re welcome to delete the email as well. I’ve only been on this list a few months and I recall correctly, you are bitter because you completed advanced education in a degree that at the moment has not yielded a satisfactory and well-earning job in the field.

In my opinion, being angry about it and angry with the school, its management, and the professors, is not going to make you happier. I believe you have expressed that the school did false advertising by implying that your future financial success was guaranteed. Well, it may be that you’re living in a city where the field you studied is crowded and competitive. You could look at moving to another city where there is more demand for people in your field. It could be that the industry is in a lull.

If you love what you studied, you can still work in it part time -even on a volunteer basis for a limited amount of hours a week – to get the experience that you can put on your resume, while working in another job. You can also work in related fields until your field gets better, if the economy is diminishing the demand for the field you studied.

I studied a field related to design and construction and graduated when the economy was bad. I moved to a part of the country where the bottom fell out of the real estate field and was forced to figure out how do redefine my career. I worked in another field, and after seven years, my field stabilized and actually needed the new skills I acquired in the other industry I which I worked. I have since been working in my field. Not everyone lands in a job in their field right out of school. Schools that offer internship programs before a person graduates increase the chances of students getting a job. My school did not have such a program.

I myself experienced times years ago when I was behind in credit card payments. Some credit cards where very aggressive in collections. It made me more resolved to succeed in my chosen field of study.

Just my two cents worth.