How did you know u were in way over your head? how did you do it? were you able to keep anything at all? (i'd like to keep my car, phone, and possibly one card that i use only to pay tuition and pay off every quarter as soon as my tuition reimbursement check comes in) How was life after? Were you relieved? Miserable? Why?
2007-02-09 02:04:07 · 5 answers · asked by kel 2 in Business & Finance ➔ Personal Finance
how does it mess you up? just when you are trying to buy something like a house, car? or if you want a credit card or loan?
2007-02-09 02:12:55 · update #1
i dont go out anywhere now i always have to stay home. i work 2 jobs and every penny goes to these bills i barely have enough money after to put gas in my car. haven't been to the grocery store in months. haven't bought anything for myself in over a year and a half..
2007-02-09 02:17:02 · update #2
I never did, but I had two friends who did.
One friend was in $30,000 credit card debt before she got married. They chose bankruptcy and got all $30,000 removed. They were still able to buy their house and cars, but at high interest rates, which they refinanced when their credit got better. They stay away from credit cards now altogether.
The other friend filed for bankruptcy when he got sued (car accident) and his insurance didn't pay. His credit was already screwed due to a divorce. He filed for bankruptcy, and still was able to get an 80/20 mortgage (high interest rate).
2007-02-09 02:19:22 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Hello Kel,
I am a financial counselor. I talk to people about this all day, every day. There are many ways out of debt. If you'll call me during business hours (PST Mon - Fri), I'd be happy to help you both understand your options and point you in the right direction for a resolution to the problem.
BTW - I've been married twice, both husbands filed bankruptcy Chapter 13 prior to my meeting them. In both cases, it was the wrong choice but they didn't know it. My husband's credit was 820 when we refinanced last July. There is definately credit after bankruptcy. It's about how you get from here to there and what you do in the meantime.
My number is 800-859-1928 x100
2007-02-12 15:23:13 · answer #2 · answered by CJ 2 · 0⤊ 0⤋
Miranda is wrong. I filed bankruptcy In 1997. And I have outstanding credit. But there is a trick to it. You have to reestablish credit right away. To do that you will have to get one or two secured credit cards. Then never use them unless you know for sure you will be able to pay them back. (on time.) I usually had the money already set back when I used the card. Now I have people begging me to barrow money from them. I bought a 2006 Dodge four door Pickup, with a thousand dollar down payment Last year.
2007-02-09 02:21:10 · answer #3 · answered by oldmanwitastick 5 · 1⤊ 0⤋
Bankrutpcy is a norm in todays society, why? Credit card companies have unfair payment and interest, while people are in need of them to keep up with standard of living. Banruptcy is used for a fresh start of which youa re in need of. It will screw up your credit for the time being, but weigh your stress compared to paying your bills. If it is insurmountable and effecting your daily activities, then why not give yourself a fresh start. Conult with a bankruptcy lawyer on your possessions. The fact is unsecured debt over 60 days is yours to keep. Secured debt like cars, etc will be taken if you file them in your claim.
2007-02-09 04:10:41 · answer #4 · answered by St.Jeb 4 · 0⤊ 0⤋
I have not but my brother has, he was 26 when he did, he is now 30 and he is still messed up from claiming bankruptcy, just try to stick it out,stay home and dont go out for a while to save money, just dont claim it, because then your credit will never be the same.
2007-02-09 02:08:34 · answer #5 · answered by Anonymous · 0⤊ 0⤋