2007-02-17 08:55:16 · 6 answers · asked by CaribbeanQ 1 in Business & Finance ➔ Credit
bankruptcy will totally screw your credit rating. call the company and see if u can arrange some kind of payment plan for the bill.
2007-02-17 09:00:25 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The answer to your question is bankruptcy. But you need to consider trying to work out a payment plan for your bill. Because either way (and bankruptcy is tough to file for now) your credit will suffer. If the bill is large and you simply do not pay it the company will either sell it to a collection compnay or sue you. Either way you are screwed because they will more than likely win and then you will have a judgment on your credit, after that they will garnish your wages.
2007-02-17 09:05:26 · answer #2 · answered by ? 7 · 0⤊ 0⤋
It depends. It depends on what the bill is, how much and when it happened. Bankruptcy is very hard to file for these days, so in all likely hood, unless you are indigent and have no chance of ever earning enough money, you wont be allowed to claim bankruptcy. IF this is a bill you disagre with, I woud suggest taking different action.
Good Luck
2007-02-17 09:00:16 · answer #3 · answered by batwanda 4 · 0⤊ 0⤋
well bankruptcy and not paying your bills have pretty well the same effect on your credit rating,but the upside of bankrupty is that you don`t get hasseled by your creditors anymore.bankruptcy is a better fresh start i think..
2007-02-17 22:00:50 · answer #4 · answered by Heike P 4 · 0⤊ 0⤋
Try to work out something with the company. Don't go BK it will mess you up for at least 7 years.
You must pay cash for everything no credit till it clears up.
2007-02-17 09:06:54 · answer #5 · answered by Anonymous · 0⤊ 0⤋
BANKRUPTCY!!!!!!!!!!!!!!
2007-02-17 09:05:39 · answer #6 · answered by gs_analyst 3 · 0⤊ 0⤋