Backrupcy

Sanchez, I would suggest that you look into consolidation first. If consolidation can help you, then you can improve your credit without filing for bankruptcy and all of the negative consequences that come with it. If consolidation doesn't work out, then you can always file for bankruptcy as a last resort. However, if you go ahead and file for bankruptcy, it will be too late to try other alternatives. Please at least consider debt consolidation, as you may be able to avoid bankruptcy entirely.

That's correct. Bankruptcy should be your last resort. If all other avenues are blocked, then only you should think of filing bankruptcy. Consolidation is the best option to pay off your unsecured debts. It reduces your monthly installment and offers you one payment per month for all your debts. Moreover the consolidation company negotiates with your creditors and relieves you from the hassle of dealing with collection agencies.

Bankruptcy has negative impact on your credit. debt consolidation can help you achieve a good credit in the long run.

http://www.debtconsolidationcare.com/avoid-bankruptcy.html

My husband wants to file bankruptcy, but I don't agree with that desiccion, he owns $10,400.00 to one creditor for a car reposition and one credit card for 1,600.00, what can you tell my husband to reconsider his decision

You may want to at least explore the option of debt settlement. A good settlement company will be able to settle your debt for 40%-50% of what you owe. The program to handle 42k of unsecured debt will usually last around 24-36 months and you will have one payment in the ball park of around 600-800 a month. If you can afford a payment of around that I suggest you go with the settlement option before bankruptcy. If you can`t afford that than perhaps bankruptcy would be you best option. I hope this helps. :D

I would not file BK for such a small amount if you only owe 10.4K + 1.6K = $12,000. I would probably try to find a way to settle it over the next 2-3 years.