Got about $15,000 in debt (noncredit card) should i file bankruptcy?
Answers:
$15,000 is a VERY SMALL Amount of Debt to consider filing for bankruptcy.
There's probally thousands of people who wish they were in your shoes ! ! ! ! !!!!!!!!!!!
Never declair bankruptsy if you can possible avoid it because it is not as simple and final as you might think. You will have ruined your credut for seven years and there is a charge for filing bankruptsy. Think long and hard before making that decision.
No, Give us some more info or email me a list and I will help you sort it.
My wife filed for bankruptcy about 5 years ago - it still comes back to haunt here. My advice would be to go to a debt consolidation place and try to pay it off any way you can. Bankruptcy shoud be a LAST resort - trust me, it will cause more problems than it's worth. Avoid it if at all possible.
The question is not should you, but can you ?!:-) Because it's really hard to do it now buddy... Good luck !
Bankruptcy will hurt your credit for a very long time, and may not necessarily wipe out all of your debt. You might have to turn over any assets you have also. You may want to consider other alternatives, such as getting a second job or taking out a lower interest rate loan - such as a home equity loan.
Here's a website with some useful information if you are still considering bankruptcy.
http://www.bankruptcyinformation.com/...
no!! u can pay it off.
now if u were like 30-40 in debt I would say OK
No, not yet, it's not worth it. Either find a way to get it paid off and save what is left of your credit or run that debt up another $50,000 and then it would be worth the agony of bankruptcy.
That would probably be a bad idea. For example if the debt is student loans they might not disappear with bankruptcy and you need to consider what assets you own that would be taken away. Another thing to consider is that some companies look at your credit record when the consider hiring you. look to cut expenses (like avoiding direct TV) and make the payments.
$15,000 in Debt!! Most Collage Grads have triple that when they finish school. Cut back a little and start paying it off a little at a time. Pay the debts that have the highest rates first and then move to the next. When you have all the debt paid off, and you'll be surprised how fast you can do it, start putting what you were paying into savings. You'll wont miss it because you haven't had it before. Then you'll have a good down payment for a house, or a car, plus your debt to income ratio will be great.
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