368. 2 days after filing and all but one of our credit lines are terminated on us

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Episode Transcript

Speaker 1 (00:01):
Good morning.
Well, today is off to a littlebit of a stressful day, but I've
got my kids with me as we'redriving to fill up our gas tank
before we can't.
So we are out of state, we'rein Nebraska and the bankruptcy
papers got filed Wednesday orThursday and then yesterday,
only one.

(00:21):
We have probably eight cardsthat we've accumulated over the
years and yesterday, like one ofthem had just turned off, like
Apple Pay disengaged, like onlyone had stopped.
Well, this morning, another oneall of a sudden now has like
turned off.
I'm like, okay, well, let's seewhat's going on.
So went into all of ouraccounts and only one card
remains, and surprisingly that'sI won't endorse them but only

(00:48):
one is remaining.
So, like we have a debit cardand like six credit cards are
gone, we only have like onedebit card remaining, and so we
had like a quarter tank of gas,went to the gas station and
filled up because I don't knowif that last one is gonna go
away.
Um, so I'm feeling a little bitpinched right now.
We've amounted right around$100,000 of credit lines over

(01:11):
the years, worked really hard atthat.
We've never missed a payment in12 years ever.
Right before the papers gotfiled.
We had an 843 credit score andthen overnight, one bankruptcy
filing and everything is likewiped out.
All the card issuers likecancel the account, close the
account, and so it's a doublewhammy you're, the number of

(01:31):
cards you have decreases, sothat hurts your score.
They each had very maturedurations, so that decreases our
score because the older thebetter.
They each had very healthycredit lines on them, so that's
going to decrease your score andso that's that stings.
That really bites.
Um having 12 years of consistent, perfect history and then

(01:54):
overnight, because of a businessventure with the personal
guarantee, and everything getsdeleted like it's.
It's weird, um, so I'm battlinglike my reaction to that and
how to stay calm, cool andcollected um not doing a great
job at that this morning.
Right now I'm like the calmestI've been all morning, but I've

(02:14):
been short with the kids, beencrabby at my, my spouse, my wife
and um I should have preparedfor that and so paying
everything off, gettingeverything, like I paid off all
of our cards like over and over,I pay, like every single little
thing, and then they all getdeleted.
So I'm wondering, like, shouldI have done that?
Like if they were just gonnacancel them?

(02:35):
Should I have at least like notpaid them down to zero.
So I don't know, maybe I madethe wrong strategic decision on
that, but either way, um, ourcar is gassed up, we're able to
get back home.
Right now we don't have a wayto get groceries from Costco or
Sam's Club, so I don't know howwe're going to do it at other

(02:56):
places.
I guess we could use debitcards, but I don't want to do
that because I don't want ourchecking account number floating
around for people to skim it.
So I don't know what we'll donext.
I'm sure our attorney will help.
So today is Saturday.
It's the last day of classes.
Tomorrow is Sunday.
That's the day that we're goingto do the surprise to everyone
that we're closed.

(03:17):
So today is just a dressrehearsal for bigger emotional
duress that will likely ensue.
So today we're going to enjoy.
Today We've got gas, we've gotfood, we're able to make it back
home Going to go, have a day ofquality family time, and then
we're going to do it tomorrow.
So emotional regulation isdefinitely the biggest skill to

(03:40):
have.
So that's what it's like twodays after declaring bankruptcy
and all that happens to youafterward.
That's where we're at, that'swhere we're going.
That's rock and roll.