2006-09-02 13:53:43 · 6 answers · asked by dlh20023 1 in Business & Finance ➔ Credit
1. Bankruptcy will ruin any plans for credit you have for the next 7-10 years
2. what makes you want to file\
a. harassing phone calls
b. late payments
c. too much CC debt
Your best bet it to review where you are.....Do you have car payments....Sell it and buy an 800.00 car
Get a book from the Dave Ramsey site called total money makeover in there he tells you what to do to become financially independent in as little as 2 years depending on how far in debt you are. I did it and I have a fico credit score of 420 which I laugh at because every time I go buy a car they deny me because of that score so then I whip out a check and before I finish filling it out they want to finance the car because they know they make no money on the finance now so I get a great deal on a cash car....Hang in there Don't file for bankrupt it isn't worth it....Call Dave Ramsey on his show. He will enlighten you to ways to stop creditors and the mean Butts that are harassing you....
2006-09-02 14:07:17 · answer #1 · answered by Uncle Red 6 · 0⤊ 0⤋
Bankruptcy Explained
2006-09-03 09:00:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It won't help your credit, it will slaughter it for the next 10 years that it will stay as the very first item on any credit report. However, if you file before your accounts start showing charge-off or seriously delinquent, the credit history beneath might still look good and you *might* appear more responsible. But you should do everything you can NOT to file bankruptcy.
2006-09-02 22:13:25 · answer #3 · answered by misslabeled 7 · 0⤊ 1⤋
It won't help your credit unless you are drowning. It will make it next to impossible to get credit at all.
Also the laws for filing bankruptcy just got a lot stiffer. It is much harder to legally file bankrupcy now than in the past...
2006-09-03 23:58:31 · answer #4 · answered by I love the flipflops 5 · 0⤊ 0⤋
look this up: articles.moneycentral/.msn.com/banking/bankruptcyguide/12mythsaboutbankruptcy.aspx You are best to go through this process with a bankruptcy attorney. They will file paperwork, go to court appearance with you, and answer your questions. Sorry you are thinking of this solution.
2006-09-02 21:08:46 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Check with a lawyer the first visit is usually free.
2006-09-05 23:39:01 · answer #6 · answered by Mr.Morgan 4 · 0⤊ 0⤋