Thinking of filing bankruptcy and know nothing about it! Any info at all?

Answer 1

I did. I wish that I has just gotten a "bad" credit rating. I finished paying it early, got a refund, my car had given out by the time I finished paying and low and behold, once you have filed, paid it off and think you will be able to live now, FORGET IT. Having this on your credit rating is far worse than just bad credit. If you are having something repo'd, think about replacing it instead of bankruptcy.

Answer 2

I just know that it's harder than it used to be. There are a lot of bankruptcy attorneys will give you a free consultation and they can fill you in on your chances and what you'll go through.

When I filed, it took 90 days to discharge and I had a credit card a month later and a mortgage a year or so later.

Now my credit is rated as "good."

Answer 3

it's actually only harder for individuals who make above the area's median income to file. The process is pretty simple but I would suggest an attorney (shop around they run from 1000-3000)

Each state gives you a certain amount in assets (personal) to exempt from the proceedings which is why you may want a lawyer to help you.

Answer 4

Don't do it unless you absolutely have to!! It will remain on your credit for TEN years, your cost of everything financial will go up... insurance, car loans, everything!!

Try Consumer Credit Counseling or a professional debt negotiator first. There's a guy named, Al Rock, in Phoenix, Arizona who is really good. His business phone # is 602.248.0203.

Good luck

Answer 5

You can't even file until you've completed a Trustee approved financial class....call your local trustee's office and they will give you a list......