After filing Chapter 7 or Chapter 13, is it most damaging to your credit in ways you cannot purchase a home or car, etc? 2 years? 5 years? For those who have filed bankruptcy, please help me understand better this choice. I am struggling and it is most difficult to do alone with no knowledge or examples.
I’ve known a couple people who have filed bankruptcy and I think they use it as an easy cop out, because they don’t want to have bills.
Two of my friends have put all their assets in their parents names, filed, and then get to keep their stuff.
I would be more concerned about the bad mark it leaves on my credit score. What are you thoughts on it?
Would you ever file bankruptcy? Why or why not?
If you have, [and don't mind sharing] how much debt did you eliminate?
are you one of the millions in the world who have filed bankruptcy because of over spending? bad money management? It seems legit enough for a business to go bankrupt, but an individual who has just been on one too many shopping spres? I dont really agree. This stems from a particular person that I know who has filed 2 times. Not only was she unable to control her spending one time, she failed 2 times, and still gets offers for new credit cards within months of filing. Now, if you have filed once and have shown that you cannot support the line of credit that was given to you then why would companies offer you more lines of credit? I cant get any type of credit due to late fed student loan payments. Im in default, and they dont budge! But yet, get a few credit cards for personal spending and hey if you cant pay for it, file bankruptcy and we will give you more credit you cant afford! I cant file bankruptcy on the student loan, and because Im behind it will stay on my credit report until