"A Construction Company Bankruptcy"

Hello! My name is Warren, and I live in Washington State. I recently went through a bankruptcy.

I had lived paycheck to paycheck for at least 10 years working for a company that I felt didn't appreciate me so I decided to start my own construction company so I could make my life better.

I did really well for the first 2 years before the economy took a turn for the worse. The problem with starting my company was I had to personally guarantee any loans or lines of credit that I opened for the business.

And when the economy got bad there was less work for me to bid on. The money stopped rolling in, and the bill collectors started calling. I hadn't paid into unemployment insurance, and had to shut the company down when my bond and the company insurance premiums came due.

The phone calls, and mail were nonstop. The phone rang at least 60 to 70 times daily for months. I quit answering my phone.

All of my equiptment, vehicles, and recreational vehicles were repossessed. My house went into forclosure. I was really depressed, and frustrated that I had no way to stop this. I felt I had failed myself, and my family.

But once I got a bankruptcy lawyer the phone calls, and bills in the mail stopped. It was such a relief I can't even explain. It was insane - why hadn't I done this sooner?

Now that my bankruptcy is over I can start over again with a much better understanding of finance and responsibility.

Don't look at filing bankruptcy as a failure, look at it as a valuable learning lesson. The sooner you start your bankruptcy the sooner you will find a new beginning to a better and more fulfilling life. I now spend more time with my family, and I am broadening my work skills. Bankruptcy for me has opened a new and better chapter in my life I wont soon forget.

Contributed by Warren from Washington State