People have advised me to consider filing bankruptcy since my credit is ruined. They seem to think that it could not hurt me since I am already bottomed out.
2007-06-25 07:40:31 · 3 answers · asked by rockbottom07 1 in Business & Finance ➔ Personal Finance
If you are bottomed out why dig a hole. Bankruptcy stays on your report for 10 years.Yes you and thousands of others have hit foreclosure because of the market better to keep paying your bills on time, get them cards paid down and try to get a little in the bank. Your credit will rise faster that way
2007-06-25 08:39:30 · answer #1 · answered by Pengy 7 · 0⤊ 0⤋
Interesting question...
Bankruptcy won't rebuild your credit.
One thing for sure, you will always have
to answer yes if someone asks if you
filed bankruptcy before.
I've been told some employers (example: casinos) won't hire people with previous bankruptcies. Foreclosure isn't as big of a black mark, things happen.
Robert
2007-06-25 08:13:01 · answer #2 · answered by 1090 4 · 0⤊ 0⤋
If you're bottomed out you can go up immediately. If you declare bankruptcy that will stay on your record for 7 years.
2007-06-25 08:09:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋