"Bankruptcy and Job Loss"

In 2003 I lost my job after my employer lost a major contract with a local company. I had worked there for over five years and had worked my way up the "ladder," during which time I had become quite accustomed to the salary I was making.

After I was laid off I struggled to find work only to discover that the jobs I was qualified for paid around $5 less per hour than what I had been making. I ended up taking two of these low paying jobs in order to make ends meet, but continued to struggle.

One year later I was buried up to my neck in bills that I couldn't pay. I wasn't even able to make the minimum payments anymore.

I spoke with several consolidation companies that all made me offers that seemed as if they'd be more expensive for me in the long run. I eventually started calling attorneys to get information about filing for bankruptcy.

I went in for a meeting and decided on the spot that it was the right decision for me. I was told that I could keep my car which was imperative to me since it was a requirement of my employment, and this was just the beginning of the relief I experienced.

My attorney was efficient and organized, and he simply provided me with a list of things I needed to do. The day I appeared in court before the judge all of my paperwork was completed perfectly and I was granted my request for bankruptcy.

Honestly, this was the best decision I have made in my life. I knew that I was headed for a future of collection calls, denials due to a bad credit score, and living off a life of money orders and payday loans.

Not only was I relieved of my massive debt, but I have learned an incredibly valuable lesson about not living above my means. I live on a carefully planned budget and have managed to keep myself out of debt (aside from student loans) for over 6 years.

I would recommend bankruptcy to anyone who has tried without success to manage their finances. It could be just the fresh start you need.

Contributed by Roy from Arizona