Is bankruptcy so bad? How hard is it to get credit cards or loans after a bankruptcy?
I don’t want to file bankrupcy, but I have been unable to find a decent job for the past 8 months. I’ve had to use my credit cards for things like groceries and gas. I can no longer make my minimum payments, although I can pay a small portion. Further, I have been accepted to graduate school but I might not be able to afford it unless I file for bankruptcy or only pay a portion of my minimum payments. I have researched bankrupcty and the alternatives, but it seems so hard to get objective advice. Most information sources have a vested interest in the topic. Some claim that a bankrupcty will make it impossible to obtain future credit and prevent you from getting a job. Others claim it’s not so hard to get credit cards or loans. I know a bankruptcy won’t be fun, and I feel terrible to be considering it, but I’m wondering whether it’s really as bad as everyone thinks it is. Can anyone give me some advice or direct me towards an objective source of information? Thank you.