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ever file for bankrupcy?

We arethinking that it is timeto suck it up and file. We will never be ableto get out from under all this and its killing us everymonth. If you have filed what chapter did you file anddo you still think it was the right thing to do? andhow has it affected your life snce while trying to rebuild your credit

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aschwarz06

Asked by aschwarz06 at 7:46 PM on Jan. 24, 2011 in Money & Work

Level 13 (982 Credits)
Answers (5)
  • I filed 7 years ago. Most of it has come off my credit this year and the rest will be within the next 3 years. It was the right decision for me. I would have never gotten out from under the debt. Now, I am very careful about what I spend, I have no credit cards. My credit rating is back up in a good rating.
    tyfry7496

    Answer by tyfry7496 at 7:49 PM on Jan. 24, 2011

  • I did a Chapter 7 in 2005. I regret nothing. I have slowly rebuilt my credit and when I applied for a car loan last week the loan officer was impressed at how hard I have worked to build my credit score back up. Think of it as a reset button.
    Izsarejman

    Answer by Izsarejman at 7:49 PM on Jan. 24, 2011

  • thats good to hear thanks
    aschwarz06

    Comment by aschwarz06 (original poster) at 7:49 PM on Jan. 24, 2011

  • I have an appointment on Wednesday so I am with you
    MChildressDem

    Answer by MChildressDem at 9:42 PM on Jan. 24, 2011

  • No I haven't. I'm sure I would have considered it- but most of our debts were student loans and those aren't bankrupt able.

    Before you file, I would strongly recommend going to the library and checking out the book, Total Money Makeover by Dave Ramsey. I know it seems hopeless, and maybe it is. But if it's something you can work through, it's worth giving it a shot.

    Good luck!
    Erica_Smerica

    Answer by Erica_Smerica at 12:51 AM on Jan. 25, 2011

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