I have bad credit, and need to file bankruptcy.?
It’s really bad, and it’s not from me being irresponsible. But I was diagnosed with a heart condition when I was 20, and didn’t have health insurance. I was hospitalized a lot, and raked up some health bills. And yea, I will admit….after my credit was already tarnished and I knew I would have to file bankruptcy, I started to not care anymore. I have about 30 thousand dollars in bad credit…and I dont know where to start. Is bankruptcy the only option I have? My husband is army and I am a stay at home mom…although I will start working again once he deploys. Anybody have any advice for me…or any numbers I can call?
Posted August 29th, 2010 in Bankruptcy Q and A. Tagged: army, bad credit, bankruptcy, health bills, health insurance, heart condition, insurance, stay at home, stay at home mom, thousand dollars.
First, let me say that I hope your heart condition has been resolved and that you will have a long and healthy life.
You have many options other than bankruptcy. Debt elimination, debt consolidation, credit restoration, etc. There are literally hundreds of different strategies for dealing with these issues. May I suggest that you do a little more research before you consider bankruptcy.
Bankruptcy laws were enacted to be a LAST RESORT for the most desperate. It used to be that people were ashamed to have to declare BK. Now it seems that is the first choice for many people.
But, if you are creative or if you know creative people who can help you, you can avoid bankruptcy altogether.
Here is one place to start: http://www.karunaservices.com (a more mainstream approach in todays financial arena)
Here is another option: http://www.nationaldebtreliefnetwork.com (a more creative approach, in my opinion, to the credit card problem)
There are many more but I don’t want to take up too much space here. Point is, if you do a little research, you may find other options that may help you achieve even better results than a BK will.
Best of luck to you. If you have any further questions regarding this or any other credit issue you may feel free to contact me at nebula7693@yahoo.com
August 29th, 2010 at 10:42 amCall Credit Counselor services and get to paying all of it off. Yeah your credit is shot but persist in paying them off as much as you can. Maybe a counselor can help you get interest lowered. or they can help you reorganize instead of doing a full blown bankruptcy.
August 29th, 2010 at 10:42 amHopefully the bills were yours before you married him. Otherwise, you might be able to get the military insurance to pay. Also, the military takes a dim view of service men having problems with creditors. Hope it doesn’t give him a problem. How old are the bills? Each state has a statute of limitations, meaning the bills expire after a period of time. If the time has expired, you don’t owe it anymore unless you make a payment or sign a note to pay
August 29th, 2010 at 10:42 amBankruptcy is not the way to go. By borrowing the money, you made a promise to pay, and it’s pretty sleazy to renege on your promise and stiff your creditors. Get to work and earn some money, and start making the biggest payments you can. Call the credit companies and try to renegotiate interest and payment terms. You might be surprised, but they will probably be flexible simply because they want to get paid.
August 29th, 2010 at 10:42 am