Author Topic: Get Healthy and then File Chapter 7? Young Person Seeks Advice.  (Read 3464 times)

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flacorps

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Re: Get Healthy and then File Chapter 7? Young Person Seeks Advice.
« Reply #15 on: May 06, 2015 04:52:21 PM »
The bankruptcy filing card is one you want to hold in reserve, perhaps in perpetuity (assuming you can get other things in your life to break your way).

The FlyingIFR method can be thought of as one path of "informal bankruptcy" which has been described by Dawsey & Ausubel (you can find their papers online) and even derided as "opportunistic informal bankruptcy" by one writer.

So long as you are not in some debtor's nightmare state like Tennessee or New Jersey, it can work pretty well.
"History has taught us that weakness is provocative. To the extent that people see an area of weakness, they will take advantage of it..." - Donald Rumsfeld

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CleaningUp

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Re: Get Healthy and then File Chapter 7? Young Person Seeks Advice.
« Reply #16 on: May 06, 2015 04:56:50 PM »

That is pretty unfair and unnecessary.  First, OP just asked about BK, not to evaluate his choices in his personal life.  Second, he simply indicated that he is only needing to spend "plastic money" on health care needs.  Never did he mention going on a shopping spree or buying any of the items you indicated.



The reason that he faces the choices he currently faces is because of his personal choices.  No way around it.

No need to hide from reality.

I stand by my remarks.


AZfamily

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Re: Get Healthy and then File Chapter 7? Young Person Seeks Advice.
« Reply #17 on: May 07, 2015 07:13:00 AM »
Hi Everyone,

Thanks for all your advice and perspectives. I've learned a lot.

1. I did finally (!) get health insurance (AND food stamps!). The health insurance is completely free, no premiums or deductibles. I think there are no co-payments. Have my first appointment with a doctor in like 7-8 years on Monday. I'm happy I finally mustered the energy and courage to humble myself and go to the welfare office.

2. I will continue to pay minimum payments for as long as possible. I should be able to last another 8-12 months. My mom would probably help me out if necessary, although I will not ask her if I do not need to. Right now, the payments add up to like 250-300 per month.

3. I actually don't spend any money except for gas and food. The last year, I've been dealing with some severe depression, moving from place to place, and in general just finding it hard to get settled anywhere. I do admit I have taken my stress out with buying not so cheap food a few times. Hence, the debt. I know it's not an excuse, but depression and chronic health issues make it hard to focus and hold down any type of productive endeavor. I've run businesses before, managed kitchens, tutored, but all the years of suppressing the depression through work finally caught up to me. Now, it's time to pay the price to get healthy again.

4. I've been somewhat skilled at making money in the past, so once I get my health in relative order, I'm sure I won't want to be sitting around all day.

5. I would only put medical bills, food, and travel expenses on credit cards. I'm not materialistic. Cars, technology, costly entertainment interest me not at all. I've sold or given away all my clothes, possessions many times. I've spent many months living like a monk. However, financial freedom and time freedom are important to me.

Thanks for taking your time. I appreciate all your words of wisdom and can hopefully live as disciplined as I can.
« Last Edit: May 07, 2015 07:18:14 AM by AZfamily »

AZfamily

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Re: Get Healthy and then File Chapter 7? Young Person Seeks Advice.
« Reply #18 on: May 07, 2015 07:22:24 AM »
Also, I just want to say two years ago, I had a lot of cash and gave about 30k to family, paid about 10k taxes, and had enough to last me for about 18 months.

But, I never took seriously how health issues could overwhelm me. I underestimated nature, and overestimated my ability to heal naturally. I've been humbled. 

AZfamily

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Re: Get Healthy and then File Chapter 7? Young Person Seeks Advice.
« Reply #19 on: May 07, 2015 07:34:36 AM »
The bankruptcy filing card is one you want to hold in reserve, perhaps in perpetuity (assuming you can get other things in your life to break your way).

The FlyingIFR method can be thought of as one path of "informal bankruptcy" which has been described by Dawsey & Ausubel (you can find their papers online) and even derided as "opportunistic informal bankruptcy" by one writer.

So long as you are not in some debtor's nightmare state like Tennessee or New Jersey, it can work pretty well.

Thanks for your comment. Could you explain more in detail? What is "opportunistic informal bankruptcy"? Debtor's nightmare state? Holding the BK card in perpetuity? I'm a beginner in all this financial speak.

siskelsghost

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Re: Get Healthy and then File Chapter 7? Young Person Seeks Advice.
« Reply #20 on: May 07, 2015 05:18:58 PM »
Good luck to you. I hope you get well!

Just the piece of mind you get from finally bring able to see a doctor will probably relieve some of your anxiety and stress.

flacorps

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Re: Get Healthy and then File Chapter 7? Young Person Seeks Advice.
« Reply #21 on: May 08, 2015 11:49:29 AM »
Thanks for your comment. Could you explain more in detail? What is "opportunistic informal bankruptcy"? Debtor's nightmare state? Holding the BK card in perpetuity? I'm a beginner in all this financial speak.

To explain all that adequately  I'd have to write a book.
"History has taught us that weakness is provocative. To the extent that people see an area of weakness, they will take advantage of it..." - Donald Rumsfeld

http://www.myhopeseries.com

AZfamily

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Re: Get Healthy and then File Chapter 7? Young Person Seeks Advice.
« Reply #22 on: May 08, 2015 09:48:50 PM »
Could you do like a TL;DR version?

brutor0371

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Re: Get Healthy and then File Chapter 7? Young Person Seeks Advice.
« Reply #23 on: May 09, 2015 02:42:39 AM »
Hi Everyone,

Thanks for all your advice and perspectives. I've learned a lot.

1. I did finally (!) get health insurance (AND food stamps!). The health insurance is completely free, no premiums or deductibles. I think there are no co-payments. Have my first appointment with a doctor in like 7-8 years on Monday. I'm happy I finally mustered the energy and courage to humble myself and go to the welfare office.


Just out of curiosity, did they do any sort of credit check when you applied for the welfare programs?

I haven't had any health insurance in years, even though I could desperately use something like a check-up. I could use some dental work too, again, it has just been too expensive ever since my layoff.

My concern is they will do a credit check. Also, as I understand it credit checks sometimes show the balance of checking accounts. I have some leftover money from settlements in a checking account, but this money has already been budgeted in advance for paying future bills so it doesn't really "count". I am concerned that they may deny the application since I am not "broke" as is required for welfare or Obamacare.

I'd like to "swallow my pride" too and get some much needed treatment after all these years, but I'm concerned about the credit check.

AZfamily

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Re: Get Healthy and then File Chapter 7? Young Person Seeks Advice.
« Reply #24 on: May 09, 2015 05:37:06 AM »
Nope, no credit check at all. You just fill out a form or online application. You want to represent yourself as a poor person. They do ask about assets and money in bank accounts, but they don't check up on anything (at least in AZ). Just be really friendly with the person who's interviewing you. Treat them like a human and they'll want to help you as much as possible.

I'm not sure it includes dental insurance.


 

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