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Has anyone filed bankruptcy? If so how was it? What was it like? How is the recovery? My ex left me with nothing but heaping bills and I see no alternative.

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Asked by Anonymous at 5:34 PM on Jan. 1, 2010 in Money & Work

Answers (3)
  • I filed 7 years ago. Most of mine is fell off last year and the rest will be off by 2013. It wasn't really that hard to do. You talk to an attorney, the "budget" your bills and incoming money, then you decide which creditors you want to file on. You do NOT have to file on your house or vehicle. I kept my car and didn't own my own home. Also, you cannot file on student loans. The cost of bankruptcy depends on how much in debt you are. Your best bet is to talk to an attorney who specializes in bankruptcy. Usually the first visit is free. Right after mine was discharged I got tons of credit card offers and was able to get a car loan. You would be able to purchase a home after about 2 years.

    Answer by tyfry7496 at 5:45 PM on Jan. 1, 2010

  • There is always an alternative to bankruptcy. It really shouldn't even be an option. As PP said the cost depends on how much debt you're in. So you pretty much pay to have your debt (and credit score) lowered and in turn have your income dictated and controlled for the next 7-15 years. It will cost you WAY more than this alternative

    Answer by Anonymous at 2:46 PM on Jan. 6, 2010

  • Before you do that, stop by my blog and bookmark it. There may be something there in the archieves or in future postings that might help.

    Answer by Peodigy at 10:20 AM on Jan. 11, 2010

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