Repair or declare bk?

My credit is really bad and I have some chargeoffs and one judgement. Should I bite the bullet and declare bk or try to get on track.....

That is a very personal decision to make. Consult with a lawyer to explore your best option.

BK should be your last choice. Please give us some more information and maybe someone here can help you

You should think about the bankruptcy real hard. I contimplated for almost 6 months before I decided to file. I also had to meet with a certified counselor prior to filiing bankruptcy, which is actually required. We went through all of my bills and finanaces and we both decided it was something that I should probably do. If you feel its something you really need to do, discuss your situation with a counselor. It's a lot easier to decide when you see everything written out. My debt was much higher than my income.

I have spoken to two bankruptcy attorneys and also my credit counselor and they told me to file, but when I spoke to friends they said not to because they said that my debt was something that I can fix, they said of course the attorneys and couselor will tell you to file, they want business. I owe about 7K and they are all for credit cards, but I also right now at this time only work part-time and it would take me a very long time to pay this off, so I don't know what to do.

It is something that you ultimatly have to decide on your own and it is a very hard decision. I had several of my creditors getting ready to file judgements against me and I knew there was noway I was going to be able to make it with garnishments on my paychecks.

It really is a personal decision only you know if it's what is best for you. I'm still deciding myself whether to do it or not. Right now we have a almost 10k bill come in where we let our car go back tack that on with quite a few credit card bills that have had to be let go where my partner has lost her job, when you go from living on 2 incomes to only having 1 to live on the credit cards have had to be let go unpaid and it's starting to catch up we are in a bad place and trying to figure out what to do. I don't see anyway possible though to pay the 10k to the car loan company, it is beginning to look like bk is the only option. Sometimes you have to do what you have to do.


Johnita

Also remember, if you do decide to file bankruptcy....it's not going to ruin everything for you. I was able to get a new car 6 months after filing..yes my interest rate was high..but after a year of on time payments I was able to refinance with my credit union for a much smaller rate. You also have to be careful of the offers you will receive. Especially credit cards, they will throw offers at you left and right..they also know you can't file again for another 10 years.