Bankruptcy
08-08-2009, 02:41 PM
#11
Gets Weekends Off
Joined APC: Jan 2007
Position: Sidelined
Posts: 109
Considering most of all the airlines have filed for bk at one point too the economy has put a lot of people that had good intentions in a bad situation so they really don't have a leg to stand on as far as responsibility i think.
How many folks have gotten their pensions/retirements and lifestyles screwed by airline bk's?
I might have some help for you, PM me for details.
How many folks have gotten their pensions/retirements and lifestyles screwed by airline bk's?
I might have some help for you, PM me for details.
08-08-2009, 08:18 PM
#12
On Reserve
Joined APC: Feb 2009
Posts: 14
Originally Posted by Whale Pilot
Pilot Dude,
Listen, the only one that could answer that question would be the perspective company that you are trying to hire on with.
My perspective on this is that there are not many airlines or for that matter industries that have not followed this path too.
If you could take anything from all of this advice, run from a career in aviation! Run as if "monsters" were chasing you. Pick a career where there is a demand no matter how the economy is. Medical Field is an excellent choice.
Whatever you decide, I wish you the best
Whale
Listen, the only one that could answer that question would be the perspective company that you are trying to hire on with.
My perspective on this is that there are not many airlines or for that matter industries that have not followed this path too.
If you could take anything from all of this advice, run from a career in aviation! Run as if "monsters" were chasing you. Pick a career where there is a demand no matter how the economy is. Medical Field is an excellent choice.
Whatever you decide, I wish you the best
Whale
That is about the best advice I have see on these boards to date.!!!!
08-09-2009, 08:44 AM
#13
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,307
Originally Posted by socal swede
Considering most of all the airlines have filed for bk at one point too the economy has put a lot of people that had good intentions in a bad situation so they really don't have a leg to stand on as far as responsibility i think.
How many folks have gotten their pensions/retirements and lifestyles screwed by airline bk's?
I might have some help for you, PM me for details.
How many folks have gotten their pensions/retirements and lifestyles screwed by airline bk's?
I might have some help for you, PM me for details.
Just because THEY did it does NOT mean it is OK for YOU to do it.
Pilots are always held to much higher standards than the people they work for. Don't believe this kind of wishful thinking
The people interviewing you will be HR professionals and pilots (not crooked CEOs)...both tend to be on the conservative side.
I'm sure people have been hired with a BK, especially in 2007 which was the best pilot hiring climate in 50 years. But avoid it if you can, or be prepared to wait until they are scrapping the bottom of the barrel.
08-09-2009, 11:03 AM
#14
Gets Weekends Off
Joined APC: Aug 2008
Position: MD80 CA
Posts: 316
You are right the Debt reduction companies are not a good idea, You can do anything they do you self. I also have also been through bankruptcy and would work hard to not have to go that route.
I would say you should check out Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan. I would not have went through bankruptcy if I had found Dave Ramsey before. He has a couple great books "Total Money Makeover" and "Financial Peace" both are very good books. I have both. One of the best things in both are he includes all the budgeting forms in the back. They are very easy to use and has changed my personal financial standing greatly.
Other than the month to month budget form it sounds like you will need the Pro-Rata plan.
"If you cannot pay your creditors what they request, you should treat them all fairly and the same. You should pay even the ones who are jerks, and pay everyone as much as you can. Many creditors will accept a written plan and cut special deals with you as long as you are communication, Maybe even overcommunicating, and sending then something, We have had clients using this plan wo have sent $2 and have survived literally for years.
Pro rate means their share-the percentage of your total debt they are owed determines how much you send them. You send the check with a budget and Pro Rata plan sheet attached each month even if the creditorsays they will not accept it" Dave Ramsey
Feel free to pm me for more info and if you cant afford the books let me know I will help you out.
I have also been through the financial peace university that dave ramsey has. I would highly recommend it to anyone, go to his site for class near you.
I would say you should check out Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan. I would not have went through bankruptcy if I had found Dave Ramsey before. He has a couple great books "Total Money Makeover" and "Financial Peace" both are very good books. I have both. One of the best things in both are he includes all the budgeting forms in the back. They are very easy to use and has changed my personal financial standing greatly.
Other than the month to month budget form it sounds like you will need the Pro-Rata plan.
"If you cannot pay your creditors what they request, you should treat them all fairly and the same. You should pay even the ones who are jerks, and pay everyone as much as you can. Many creditors will accept a written plan and cut special deals with you as long as you are communication, Maybe even overcommunicating, and sending then something, We have had clients using this plan wo have sent $2 and have survived literally for years.
Pro rate means their share-the percentage of your total debt they are owed determines how much you send them. You send the check with a budget and Pro Rata plan sheet attached each month even if the creditorsays they will not accept it" Dave Ramsey
Feel free to pm me for more info and if you cant afford the books let me know I will help you out.
I have also been through the financial peace university that dave ramsey has. I would highly recommend it to anyone, go to his site for class near you.
Originally Posted by pilotdude73
As I have said before, I dont want to file, but having seen an attorney, and have talked with several debt counselors, and financial advisors, it may be my only option..
the problem im having is that a debt management program(when all bills are consolidated into 1 pymnt) will not work for me, that will be 950 dollars a month, not including gas, food, student loans, rent, utilities, etc...the problem is I dont make enough money at work, cant pick up overtime, and soon to be furloughed..I have nothing else to cut, dont have a second vehicle to sell, land, or own a home...
Debt reduction on the other hand is a scam, they want me to pay over 6,000 in legal fees, put money into an escrow account in which the first several months you pay the company's fees, and yet the bills are not getting paid, a negative mark on your credit, and this stays on your record for 7yrs, and what they dont mention is that you have to file on your next taxes the exempt amount..oh yeah the pymnt for this a month is around 700dollars a month for 3yrs...again cant afford that...
this whole scenario dosent even touch student loans, and they wont be exempt in a BK..
so thats my situation...
the problem im having is that a debt management program(when all bills are consolidated into 1 pymnt) will not work for me, that will be 950 dollars a month, not including gas, food, student loans, rent, utilities, etc...the problem is I dont make enough money at work, cant pick up overtime, and soon to be furloughed..I have nothing else to cut, dont have a second vehicle to sell, land, or own a home...
Debt reduction on the other hand is a scam, they want me to pay over 6,000 in legal fees, put money into an escrow account in which the first several months you pay the company's fees, and yet the bills are not getting paid, a negative mark on your credit, and this stays on your record for 7yrs, and what they dont mention is that you have to file on your next taxes the exempt amount..oh yeah the pymnt for this a month is around 700dollars a month for 3yrs...again cant afford that...
this whole scenario dosent even touch student loans, and they wont be exempt in a BK..
so thats my situation...
Last edited by pipercub; 08-09-2009 at 04:42 PM.
08-09-2009, 01:51 PM
#15
Gets Weekends Off
Joined APC: Jan 2007
Position: Sidelined
Posts: 109
Originally Posted by rickair7777
LMAO...
Just because THEY did it does NOT mean it is OK for YOU to do it.
Pilots are always held to much higher standards than the people they work for. Don't believe this kind of wishful thinking
The people interviewing you will be HR professionals and pilots (not crooked CEOs)...both tend to be on the conservative side.
I'm sure people have been hired with a BK, especially in 2007 which was the best pilot hiring climate in 50 years. But avoid it if you can, or be prepared to wait until they are scrapping the bottom of the barrel.
Just because THEY did it does NOT mean it is OK for YOU to do it.
Pilots are always held to much higher standards than the people they work for. Don't believe this kind of wishful thinking
The people interviewing you will be HR professionals and pilots (not crooked CEOs)...both tend to be on the conservative side.
I'm sure people have been hired with a BK, especially in 2007 which was the best pilot hiring climate in 50 years. But avoid it if you can, or be prepared to wait until they are scrapping the bottom of the barrel.
And since so many airlines have filed bk and screwed over pilots in the process there would be some latitude once hiring does pick up again. I was not endorsing bk per say.
08-12-2009, 10:04 PM
#16
New Hire
Thread Starter
Joined APC: Aug 2009
Posts: 4
Originally Posted by 2Co2Fur1EXwife
I got hired with a Bankruptcy, and horrible credit. Do it if you have to, its not as bad as everyone thinks. I was getting offers for credit card less than a year later, started with a $500 credit line, then $1500, pretty soon back up to 5K limits on multiple cards. Now if your planning on buying a house or car, you may need co-sign and even then you'll get wacked on interest. If someone doesn't hire you, an you suspect that reason, sue. for....wait for it...the big D!
if you dont mind me asking, what airline did you get on with, and how long after your BK did you hire on?
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