Advice on how to handle a lifes worth of financial mistakes
The credit counselor says that he can wipe some debt off my credit and I'll still owe the people, but it won't be on my credit, and then he can help me get good credit going again.
So, which ones right? Or are neither? I want to be out of legal trouble and be able to get good credit at some point. Any help and advice is greatly appreciated.
I don't agree with being able to build up credit quickly after a
I don't agree with being able to build up credit quickly after a bankruptcy, it takes years, I've been there and done that. If it were me, I would go with credit counseling. :)
Either way I'm kinda screwed, if I pay the bills my credit will
Either way I'm kinda screwed, if I pay the bills my credit will still be bad, if I don't pay them nothing changes. Hard to know what to do when there's no real solution. Of course, I did put myself in this position.
I wouldn't BK 20k in debt especially if your income situation wi
I wouldn't BK 20k in debt especially if your income situation will change soon after graduating.
A BK (Chapter 7) will remain on your credit report for 10 years.
A BK (Chapter 7) will remain on your credit report for 10 years. The bad credit marks will fall off after 7 years. IF you are able to do credit counseling and still with it (make all your payments to the dmp) then your credit will recover nicely as soon as you are out of the program.
Are you talking about debt settlement or debt management through your credit counselor?
Also, BK attorneys make a living by having people file for BK. It may not always be the best option. Please research all avenues and make the assessment on how it may best result for YOU!
Submitted by desperatelyseekingsanity on Fri, 08/15/2008 - 08:58