Considerings bankruptcy.. any one been there..?
Answer:
File quickly especially if your annual income well exceeds your debt. My mother filed in feb. and her credit score and history was very good. (700). After filing and all the creditors adding late payments and over balances to her credit file, her score went down to the 580's and now shes establishing credit all over again. Even though it will abuse your credit but you can fix your credit after bankruptcy faster than you can pay 45000.00 worth of debt off. Nine times out of ten the negative items you receive on your report would fall off after you dispute them even if they are your accounts. A lot of creditors wont even rspond to a dispute which makes it automatically fall off your report. I started working on my credit in Jan. of 06 and i just closed on a piece of property. I brought my score from 529 to 645 in 8 months. All by disputing negative items on my report and paying a few off. I also filed bankruptcy in 2001 and from 2001 til 2004 mt credit score stayed around the same until 2004 when i got a very high interest rate credit card and from that point on i started re-establing credit. In Jan i started disputing everything even inquiries and now im on the ball. Go for it it gives you a chance to start over again.
Seek an attorneys help.
First of all u need to find a new attorney. It does not matter if the creditors do or do not show up. The judge makes his decision based on all of the information that you provide him. In bankruptcy you can not be selective. You include all of your debts, medical- house payment - car payment etc.everything. Then you list you proven income. Then the judge decides if you are bankrupt with no debt, or if you basically need a reorganization and have to pay a certain portion of the debt off in payments. It is very complicated, and if your attorney is taking it lightly, please find a new one. This will have an impact on your credit for a long time. Also, consider speaking with a professional credit counseling agency before you file for bankruptcy. Do all you can to salvage your credit. Better a slow pay than a no pay.
GET an Attorney.he would guide you well:
5 Tips For Getting An Attorney for your Bankruptcy
http://get-out-of-the-debt-trap.com/cate.
you can't go bankrupt, not fully. with your income etc they will make you file ch13..makes no sense to file, it will only trash your credit for 7 years..start paying it off..less shoes and purses.
You need to try and come to some terms with your creditors. Bankruptcy is the last thing you should consider. It may take you years to pay it back, but you should try. It's your responsibility. I'm sorry your poor business/money management skills got you to where you are, but you need to take of what you started. It doesn't matter if you can only pay $10 a month, pay it and keep some dignity in your life. Good Luck!
Maybe, if you are that close, deb management may help you retain your house.
The credit card company may even recommend one they trust
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