MasConcepts Incorporated

I thought I would share my story to help others. I have learned a lot from this sub and it gave me the courage to file my Ch 13 in Florida.

Short version: 50% of my creditors did not file a claim. I am flabbergasted. I hoped one might not meet the deadline. Most didn’t.

Here’s who didn’t file:
Discover $13k
Apple Card thru Goldman Sachs $6k
Citi $10,500
First Electronic Bank, specialty credit card $6k
Klarna, AfterPay, and Affirm $15k

Over $50k basically did not file. The deadline was only a week ago so I am trying to be cautiously optimistic.

A few key points to highlight: I filed without my spouse. We are high earners. I have a massive spending problem that stems from a variety of mental challenges. I recognized that I need someone to put the brakes on my spending as I wasn’t capable of doing it on my own. I had the household completely over extended and was having big trouble saying “no” to anything. We are in our 50’s and I couldn’t imagine growing any older with this crippling debt.

My credit was near perfect before filing. High 700’s. Nothing overdue. No late payments. But the house of cards was about to fall and I felt blowing up my credit score all at once was better than killing it slowly over a long period. Now I can wipe away most of my debt before I hit 60 years old.

It will be a long 5 years but I have faith that I made the right call. I am learning to live on my actually income instead of spending 6 checks ahead of my pay cycle.

Good luck everyone!