Bankruptcy

Hi, as I was going through you situation which you are in right now. I personally think that you should not go for bankruptcy because it has a negative impact on your credit score. And it stays there for approximately 7 to 10 years. And during this period you will not be able to rebuild your credit score. I would say debt negotiation is one of the best option for you because it only not helps you pay off your debt as soon as possible but it also helps you to save a lot of money after paying your debts. And most importantly in this program you need to have patience if you are looking to pay off these debts. You can do research for the best consolidation companies and you can call them and discuss all the possible options.

All the best.

Van....you dont understand bankruptcy at all. Bankruptcy is not all that bad and you can start rebuilding your credit the day after the bankruptcy is discharged. Debt negotiation and settlement also trash your credit report.

original poster...the courts will probably want your motorcycle and no, you cant transfer assets to avoid losing it. You probably should consult with an attorney in your area....first consultation is usually free.

The Chptr 7 has a means test now and if you don't pass the test it may be 13........or neither.

Credit after BK is no big deal.
The cc's will line up to sign you up again.
In fact your mailbox will be flooded with offers.
The interest rates won't be the best but if you need the security of a cc then it's available.

Now I know that I'll ruffle some feathers with this response but here goes.

If you have a motorcycle that's worth 4k and 3k from other sources you can negotiate (settle) the cc debts yourself. 7K and a tad more will make it happen.

No need for bankruptcy in my non-legal opinion.
Attack the debt and become FREE from the credit card chains of bondage!

Please keep us inform on your progress.
Good Luck