Should i file for bankruptcy 45000 in debt credit cards?
Answers:
That's impossible to say with the limited information you have given. If you are making 200 grand a year or have the capacity to shortly, then no. If you are making 50 grand with no way to make more (i.e. second job) then maybe. Bankruptcy is a short term solution with a long term residual effect. Before you declare bankruptcy, contact Consolidated Credit Counselors. They are a NON PROFIT organization with offices nationwide. Do not go to a company that says they do the same thing. NON PROFIT is the key.
yes
Definitely.
Double that and you will have close to what I got stuck with in a divorce. I decided to do the "right thing" and paid or settled all of it. My reward was a few trips to court and a 529 credit score. File bankruptcy. Although it goes against all that is moral, this is the way to go, and where I wish I had went.
yes. it will take you 20 years to pay it back. seven years is shorter after your discharge.
Yea you should file bankruptcy and then hire a credit attorney to fix your credit history, $80 a month versus whatever your monthly payment is now.
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That depends. I had that much debt and didn't file and things are working out well for me. Most of my debts are gone. The few that remain will be gone within 1 1/2 years. I'm already getting new credit card offers without annual fees and other outrageous charges.
The bad side is that one creditor did sue me and win. The amount was $3000-$5000, though. That's not bad considering what I owed!
Bankruptcy would have cost me a few thousand, anyway, and I think it actually stays on your record closer to 10 years than 7.
I also live in Texas where creditors cannot garnish wages- even after suing you. Depending on what state you live in, you may not be as lucky. I'm also "judgment proof". I don't own anything of significant value. I can only imagine the hell my life would have been if I had actually continued trying to pay off my ever decreasing debt.
what you should have done is not get in so much debt...you knew you couldn't pay but did that stop you from spending....no of course not.why would it when all you got to do is file bankruptcy..
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