2007-01-16 17:46:56 · 5 answers · asked by desperate11094403 1 in Business & Finance ➔ Credit
To reach this stage is a last act of desperation. If your are still receiving an income then maybe there is a way out for you before taking this step. There is a software program available under shareware that you input your income debts living expenses etc and it will return to you how to manage the debts with your income. Try this it just might work. Besides similar software is provided by debt management strategists all the time except this is free.
2007-01-16 18:02:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you can do it Debt Consolidation is the way to go. You make 1 payment and the company distributes the payments to each credit card company. In time this shows that you are again current and paying down your debt.
If you declare Bankrupty all your debts are gone, but this stays on your record for 10 years. A lot of law firms will tell you you can get credit almost immediatly after you declare. This is correct but that is what got you into trouble in the first place.
Personally I would do the Debt Consilidation first, because not only does it help your credit but you also can get some budget help, which in the long run will help you more.
2007-01-16 18:18:32 · answer #2 · answered by OC1999 7 · 0⤊ 0⤋
If you can possibly avoid bankruptcy you should do so. There are a number of alternatives which you should find out about. There's some information on these websites which may help.
Good luck!
2007-01-20 04:16:35 · answer #3 · answered by Anonymous · 0⤊ 0⤋
In time this shows that you are again current and paying down your debt.
2007-01-16 19:29:51 · answer #4 · answered by Sonu G 5 · 0⤊ 0⤋
Here is an article i found on http://url.vg/youbigg/1d1ec3/debtconsolidation with some information and different plan options.
2007-01-17 00:00:39 · answer #5 · answered by geazzurrd 1 · 0⤊ 0⤋