The decision to file bankruptcy in Los Angeles Court was the toughest one I've ever had to make. I was scared......terrified actually. I had been completely mismanaging my money for years and I felt like a colossal failure. My self esteem was at an all time low and I had no idea how I was going to get through this.
To top that off I had no one to talk to. The big recession hadn't quite kicked in (at least no one was admitting it yet), and filing bankruptcy was still considered the social equivalent to throwing a puppy out of a car window on a busy metropolitan freeway. To this day, my filing remains my dirty little secret.
If I had to do it over again, I would have done it much sooner. Filing bankruptcy in Los Angeles County court just a couple years earlier would have lessened the pain for both me and my creditors. Instead, because of the terror that the mere thought of bankruptcy invoked, I just kept borrowing money to pay on what I already owed. I kept telling myself that eventually I would miraculously be able to pay my bills off. I was gonna write that book or win that lottery. Of course, eventually, no such thing happened. Eventually the well ran dry and there simply was no more credit to be had. I was nearly 85K in the hole and there was nowhere else to turn.
Don't get me wrong. I am fully aware that there are plenty of people who are forced to file bankruptcy through no fault of their own. (Donald Trump comes to mind..snicker) There are serious illnesses and unexpected job losses that financially ruin people all the time.....that's just not the case for me and I have to own up to that.
Perhaps the best advice I came across in my quest for knowledge prior to my bankruptcy filing, is that filing bankruptcy is a business decision. I can't take credit for that little pearl but I am thankful for it. After all, the law does afford us this privilege. Bankruptcy is meant for us to get a Fresh Start...a second chance. That little piece of advice allowed me to proceed in, for the most part though I did have my moments, a rational and calm manner.
Of course, things have changed a bit in the last couple years. The recession has seen to that. With more and more people filing bankruptcy, it has almost become common place if not acceptable. But it's still a very tough pill to swallow.
If you are considering filing Bankruptcy in Los Angeles Court, there aren't many people who will be able to, or willing to, openly relate to what you are going through. Me, I've been there, done that, got the discharge.