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As anyone ever declared bankruptcy?

And if you have what are the steps to go through to get it done and has it helped? How do they do it?

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Asked by Anonymous at 11:56 AM on Jul. 15, 2008 in Relationships

Answers (4)
  • I have never declared bankruptcy, but I have been in a position where me and my son didnt have anything and we had to go live with my mom. The best thing to do is to go to your social security office and get government assistance. It would be the best thing for you, and probably less embarrasing then bankruptcy. The government will help you.

    Answer by SheridonW at 12:06 PM on Jul. 15, 2008

  • My friend declared bancrupcy before the time frame when they changed the law.You need to find a lawyer in phone book that does bankruptcy.Now since I believe 2004. You MUST pay 50% of your dept..instead of the small fee..Just contact bancruptcy lawyer.

    Answer by BUSYMAMA5 at 12:29 PM on Jul. 15, 2008

  • I am in the process of doing so. You can search online about it and handle it yourself if you feel confident in that area. They make it sound harder than it is. We are not paying 50% of our debt, but did have to negotiate payments in order to keep our stuff. They also kept a bulk of but not all of our IRS return. We took an hour long class on line, filed on line, have been to the courthouse a couple of times (phoned in sometimes too) and will have to take another hour long class online in order to receive our discharge. The important part in to do it before you get in over your head. Your credit score suffers but not as bad as if you waited to get behind on all your bills. good luck!

    Answer by Anonymous at 1:40 PM on Jul. 15, 2008

  • Just make sure it's completely necessary and that there is nothing else you can do, simplify, or sacrifice to avoid it. I filed for Chapter 13 and I have 41 months left of payments before it can be discharged. Now I finally have a great job and I moved in with my parents last winter but I can't change what I've already done. I can't get a car because my bankruptcy isn't discharged yet. Sometimes you get so overwhelmed by those nasty creditors that you can't see your way out of it. Those creditors can't lock you up just because you owe them money. If you think you could get yourself into a better place within the next few months or so, do that. If things are truly too deep to get out, then go ahead and file, just make sure you're prepared to live in limbo for the next decade!

    Answer by amyco209 at 3:20 PM on Jul. 15, 2008

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