Great post Steve.
My story back in 1998 was very similar. The only difference was that I didn't go bankrupt only because the government here had a plan where they negotiate with your creditors on a payment plan that works within your budget. I had a failed business and I had to get a job to pay off my debts.
Eventually I paid everyone off. However, during that time when I was really broke I really learned who my friends were and developed a rock solid relationship with my wife. I know she'll stick by me even if we're dead-broke and I also know that no matter how bad things get financially I can always recover.
What surprised me was just how quickly things can turn around as well. I went from earning like $500 in a year (YES YEAR!) to making a six-figure income in about 5 years. I went from selling my 1987 Honda Accord in 1998 to pay for food and having no car, to driving a fully loaded 5-Series BWM (used) in about two years.
It was all done by applying Personal Development strategies.
What I learned was that it's not that hard to recover. You might think it will take you 20 years to recover from a huge debt, but it doesn't have to. It's amazing what you can accomplish in just one year of truly pursuing your true passions.
I also learned that when you're broke and when you've got money, the people that really love you treat you the same, but the so called "friends" you've got that don't really care about you treat you totally differently.
I think having gone through that "near bankruptcy" just like you have, and having had dealt with the same stupid creditors you dealt with has made me stronger.
I once had a credit call my Dad and tell him that he raised a failure for a son. He told him he should be ashamed of himself for raising such a degenerate, etc. He's so lucky I wasn't the one who picked up that phone and that I didn't have the conversation recorded, because that's TOTALLY ILLEGAL to do that. They're not even allowed to talk to my Dad about my financial situation, let alone say crap like that.
For anyone who's getting harrassed by credit collectors right now, here's some advice. RECORD the conversations, and even if you can't afford a recorder start your conversations out by saying "Before we start talking, let me inform you that I am recording this conversation." and then let them talk. THey might actually treat you like a human being. Or at least follow the law. If not, there are debt-relief agencies that would probably be really happy to take on your case.
ANyways, I just wanted to say that the article was really good Steve and once again it's shockingly strange just how similar our past experiences are.
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