debtfree wishes

Date: Wed, 06/21/2006 - 11:44

Submitted by anonymous
on Wed, 06/21/2006 - 11:44

Posts: 202330 Credits: [Donate]

Total Replies: 2

I am the type of debtor who never thinks it is really as bad as it is. I've been in denial and now am faced with the decision of bankruptcy. My debt is less than $10,000.00 but with interest and fees it will reach a higher amount soon. Please help me! To format a question, it would have to be...If a judgement has been paid, why does it still show as having ever been there?

Hi Jennifer Judgment stays on the credit report from the dat

Hi Jennifer

Judgment stays on the credit report from the date it is filed. Even though you have paid the debt by this time, the negative information will be visible to those viewing your file for the period of seven years.

Consider other options before filing bankruptcy. You can either consolidate all your accounts into one payment or choose a settlement plan. If you are unable to pay your debts in the reduced plan, file a chapter 13 bankruptcy. This will allow you to pay the debts over a period of three to five years. Chapter 7 will discharge all your debts but your credit potential will be tarnished severely. It will take at least 2 years to rebuild your credit from the beginning.

You can read these articles for more knowledge on the various debt management programs and exercise the options favorable to you.

http://www.debtconsolidationcare.com/debt-settlement.html

http://www.debtconsolidationcare.com/benefits.html

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

lrhall41

Submitted by GunsNroses on Wed, 06/21/2006 - 12:05

( Posts: 485 | Credits: )

Hi Jennifer, I'm in almost similar situation except that I have

Hi Jennifer, I'm in almost similar situation except that I have 3 more debts that I need to take care of besides the one that I've just settled today (even though I didn't get the result I wanted, I would survive through that in a little more than a year to pay off that debt.) Another one is a small one and I think I can to negotiate to pay off within next month. And after that, 2 more to go. Anyway, we all make mistake and we learn the very hard way but enough is enough, right? Try not to file for bankruptcy, even judgement is already bad enough for your credit; try to work around to find a solution; don't give up (my total debt is more than $20k and I don't even own a house to consolidate my debts) Judgement & bankruptcy will stay on your credit report for 7 years but if it's the last option for you and you think that you won't have anything to do that somebody need to check your credit history like buying a house or a brand new car or apply for something in the next 7 years, then do it. I haven't been close to judgement or bankruptcy but I think I will survive. Stay strong, try to work around again to find a solution.
Best regards,

lrhall41

Submitted by on Wed, 06/21/2006 - 17:04

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