Bankrupcy what is it ike?
Answers:
When you file for bankrutpcy, all the old unpaid debts will still show up on your credit report...but they will reflect a zero balance and state they were included in your bankruptcy.
The bankrutpcy report itself will kill your credit for a while but with carefull planning you can restore your credit within a few years. Many of these people who browbeat you about bankruptcy don't really know what they are talking about.
Take a look at http://www.lifeafterbankrutpcy.com... as it will show you ways to get by after you file.
But don't think filing bankruptcy is a piece of cake either...you are in for a few years of very hard times, especially if you need credit.
The BK laws have change. Only file if you have 1000's in debt otherwise you are better off paying the debts. There is nothing wrong with a BK, it is there to protect you.
Bankruptcy sucks, your basically ruin (& u spelled bankruptcy wrong)
http://www.answers.com/topic/chapter-7...
Get your head and bang it in between the car door and the pillar of your car. Thats what it is like. No self esteem, failure issues, and the realization that on planet earth as a human being trying to make it in society that you failed. Pay your debts by coming to arrangements with your debtors. Telephone them and have a talk to them.
it's much better not filing bankruptcy.
:-)
Bankruptcy chapter 7 procedure
http://get-out-of-the-debt-trap.com/cate...
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