Originally Posted by
Edwin Goitia
Recently had to file for bankruptcy. Wasn't due to churning really. I was actually doing fine paying everything on time. Mixture of business expenses piling up over the years, lots of losses, lifestyle changes, having a baby, buying a home, and having to finance two new cars. Lets just say what I was spending monthly on credit card payments was a bit high.
I'm super bummed because I love credit card churning and my credit score had actually gone UP since starting out with travel hacking.
Has anyone had this unfortunate experience? Is there any hope for me down the road? Could I be getting back into the game sooner than I thought (say, 2-3 years)? I'm just looking for some light to be shed on this.
"I was actually doing fine paying everything on time."
No, you were doing fine keeping all the balls in the air. then they started falling. if you were paying everything on time how did years of business debt pile up? and you didn't HAVE to file Bankruptcy , you chose to. and you didn't HAVE to buy 2 NEW cars, you chose to. just from what you wrote in your post, I'd say you were/are living above your means and it caught up to you? and it was so much fun, you are ready to jump right back in. Rebuilding your credit is a worthy goal, the FUN of churning credit cards might not be for you. I suggest checking out
www.daveramsey.com or something similar. if Bankruptcy is giving you a fresh start, try not making the same mistakes that got you in trouble? Just my .02 RT