April 6, 2007 9:38pm CST
Does anyone have any tips on filing bankruptcy? We are thinking of filing bankruptcy because ours bills are so far behind and we are in such a hole. Any advice?
• United States
7 Apr 07
Think really long and hard before you file. It will stay on your credit history for 10 years. It can take up to 5 years before you can even get a "bad credit" credit card. It can take longer to get a loan for a car or house. Also, if you apply for a job, many jobs today require a credit check and it can prevent you from getting a job. It can also make it hard to get car insurance or open a savings/checking account. I know, we filed and then had it dismissed and we are still having trouble with re-establishign our credit and it has been 7 years. Unless you are in danger of losing your home, I would contact a credit counseling company to help you get back on track with your bills. Also, just calling your credit companies and asking about a repayment plan can stop the interest. Most credit companies, we have learned, are willing to work with you. Add me as a friend and I will send you a link to a website that really helped me out. YOu see if your debts are charged off and those 3rd party collections agencies are bothering you, you can get them to stop with a simple letter mailed to them. I wish you the best of luck in getting everything back on track.
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