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Has anyone filed bankruptsy and can tell me how it all went?

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Asked by Anonymous at 7:02 PM on Apr. 2, 2009 in Money & Work

Answers (3)
  • I have not nor do I need to. You now have to pay back all of the debt you are trying to "erase" by filing. It also stays on your credit for 10 years. You'd be better off just muddling through and not getting in more trouble than you are already in.

    Answer by Anonymous at 7:55 PM on Apr. 2, 2009

  • anon 755 you are incorrect. You can still file Chap 7 and chap 13 is longer but you pay it back but usually not the full amount.

    I have already been approved for loans and I just discharged last week. I am a better credit risk then some right now and they know it (can't file for 8 years but we plan to never file again). I turned the loans down and we are paying cash for everything. We just got dealt a bad hand. A unexcepted job loss (15 plus years gone), savings drained due to sons and DH medical care. So we filed chap 7 and were discharged.

    You can't judge someones situation off on one line. Heck she didn't even say if she was just what it was like.

    Answer by Anonymous at 9:21 PM on Apr. 2, 2009

  • No, but i am about to. and like Anon 921 said, our lawyer told us the same thing that we will get offeres within 6 weeks of filing, but to turn them down. and within two years by LAW you have to be considered for a mortgage, it may be at a higher rate but you will be considered. and because you cant file again for 8 years you are more likely to get loans and credit. they only thing that chaged with the laws are they make you have to qualify to file. a family of 3 has to make less than 60K a year. Good luck and do not feel bad for a decision that you are faced with, we do what we have to for our family.

    Answer by babymaddy at 10:46 PM on Apr. 2, 2009

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