MasConcepts Incorporated

I wanted to share my experience for anyone currently sitting at their kitchen table, staring at a mountain of paperwork and wondering if they’re about to ruin their life by filing Pro Se.

A few years ago, I was in a bad spot. I had about $20,000 in credit card and miscellaneous debt that was suffocating me. On top of that, I was tied to a house that was underwater. The so-called “value” had dropped to about half of what the mortgage was. It was a literal anchor.

I decided to file Chapter 7, and I also decided to do it myself.

Here is how it went and why you shouldn’t panic.

The Process

The thing most people will find to be the most challenging is the organization. I spent a lot of time making sure every debt was listed and every asset was accounted for. Make sure you pull your credit report from all three credit bureaus (Equifax, Experian, and TransUnion). They should align for the most part, but there may be some small differences. You can get your reports free of charge at www.annualcreditreport.com. Go over those reports with a fine-toothed comb. If you’re not sure if a debt is legitimate or not, go ahead put it in your schedule. It can’t hurt.

If you can follow instructions and stay organized, the paperwork is manageable. I filed everything at the courthouse, and it went off without a single hitch.

What Happened to My Assets?

• The House: I “blew out” the house. Since it was worth half of the mortgage, there was no equity for the trustee to care about, and I was ready to walk away from the lopsided debt anyway. In fact, I had a long conversation with my trustee and when I told him about the situation with the house, he said, “Ain’t that some shit? I see more of this than you want to know.”
• The Car: I really needed my transportation, so I reaffirmed the car. I kept making the payments, kept the vehicle, and it was never an issue. I had to go into open court and in front of a judge for the actual reaffirmation. Was I scared? Not a bit. It took maybe 10 minutes.
• The Debt: The entire $20k in credit card debt? Gone. Discharged. Total reset.

The “Pro Se” Fear

I know the common advice is “get a lawyer,” and for complex cases, that’s 100% true. But if your situation is relatively straightforward, filing Pro Se is completely doable. The court staff can’t give you legal advice, but if you treat them with respect and have your ducks in a row, the process is much less “scary” than the internet makes it out to be.

And the minute to hand your BK forms over to the court is the minute you can breathe again. Enjoy that moment. Say to yourself, “I don’t owe anyone anything!” It is JOYOUS.

No one treated me like a criminal at the 341 meeting, the trustee was professional, and my credit has been steadily rebuilding ever since.

Life After Filing

It will take a year for your credit score to start to recover. In the meantime, go to your bank and open a secured credit card, where you put down a $500 deposit and get a $500 credit line. There’s no risk to the bank or to you. After the first year, I got a low-line credit card and paid it off every month, because the interest rate was horrible. Eventually you’ll get an offer for a credit card with a decent interest rate, but don’t start that junk again with running up debts you can’t pay!

The Bottom Line

I filed Chapter 7 Pro Se with $20k in debt and an underwater house. I reaffirmed my car, eliminated the debt, and moved on with my life. If you are organized and diligent, you can do this. There is light at the end of the tunnel!