Should I file bankrupt for my unpaid credit card bills ?

Answer 1

I would talk to a financial advisor...or consolidate your debt if you need help. cb

Answer 2

Try EVERY OTHER OPTION FIRST! Bankrucy should be the last resort.
1. Try Consumer Credit Counseling Service. They will intervene with your creditors for you and help you to work out a payment plan so that you can Lower your monthly payments so that you can stay within your budget. This way, even though it will take you some time, you can pay off your debts and still keep your credit above the rim. I took this route years ago and it was a godsend. I ended up with my credit stil intact. Make sure you pick the right CCCS http://www.cccsstl.org/?referrer=google&credit&counselors&gclid=CLX5i9nvyooCFQJUUAodVDzXcg This one is free and not only will they help you get out of debt, but they will teach you to control your spending from now on.
2. If your credit is still halfway decent, then get a consolidation loan

Answer 3

This completely depends on your situation. If you are absolutely drowning in debt and there is NO way for you to arrange a monthly payment that you can afford then bankruptcy may be your answer.
I recommend contacting a credit consulting firm that may give you a loan that can cut your payments WAY down. You may find that you can have those cards paid off in 3-4 years while bankruptcy can haunt you for 7-10 years or more.
Either way, keep your head up and don't let the creditors bully you into making a bad decision.
Best of luck!

Answer 4

Bankruptcy laws have changed in the past 2 years, they are more difficult to obtain, and if they are for credit cards, as opposed to medical bills, or house bills, almost impossible to get, you would have to hire a lawyer, pay court fees, and then anything personal would be exempt, from bankruptcy, even if you were granted bankruptcy, not all bills are wiped out, they still make you pay, what the court deems you can afford, also note, you will not be able to secure home mortgage, or car loans for 7 years after bankruptcy. A better plan would be to contact a free credit conseling, they can negociate with your credit card co. on lowering your monthly payments, and sometimes get them to charge less interest fees, much better than bankruptcy, and credit card co. will get thier money from you anyway.

Answer 5

Whatever you do, make sure you have a plan that will keep you out of the situation you are currently in. Bankrupcy is a last resort option, but one that will let you keep your home, and vehicle.

I learned this by watching my grandparents and great grandparents, never buy anything you don't have the cash for unless its a home, business loan, or car. For that matter, I will always drive older vehicles, they are easily repaired, someone else already took the depriciation hit, and cause they are paid off, it saves you from having to have full coverage. So I personally would never ever buy off a lot.

Answer 6

instead of doing that which will ruin your credit. Find a place that will help you combine your bills and make a low monthly payment. Then your credit will not be ruined and also hope you learned your lesson with credit cards. I got mine payed off and cut them up if i cannot pay cash for it then i do no need it.

Answer 7

Bankruptcy should be a last resort for any major financial decision because it stifles your ability to get good credit in the future. Plus, employers sometimes look at credit reports to assist in making hiring decisions. If your balance is $10,000 or less, you should be able to work out a payment plan.

Answer 8

Only if you have given up any hope of buying a house for the forseeable future.

Otherwise, you should tighten up your spending and honor your promises.

Answer 9

I don't know where you are located, but in Wisconsin I have been told that you should have above $25,000 before you file!!

Answer 10

Sure, if you want your credit to go to shiit..