OT: Is Anyone able to Offer Advice on Filing Bankruptcy?, Seriously thinking about IT again Options

[Scott Carlberg]

I'm looking for Suggestions, Advice, What to Do's and What NOT to do's.

thanks.

[Toast]

I filed bankruptsy 4 years ago.

And I went through one of those "consumer credit counseling" places before that.

I will start by telling you Don't even bother with one of those "counseling" places. They dont save you much $ or interest rates, and your credit rating is just as bad using one of those as with a bankruptsy. Except that your credit is bad the whole time you use them, plus you pay off your debt and THEN have to wait a while afterwords before your credit clears up.
Might as well just right it all off at once if you can.

I talked with a paralegal and had her do the paperwork. Cost me under $30. All I had to do was sign a million pages and take the paperwork down to the courthouse. There they assigned me a court date. Went to the court date, waited for them to call my name. They swore me in, asked me 4 questions, asked if there was anyone that wanted to contest the bankruptsy (no creditors appeared), and told me that my bankruptsy was finalized and I would be recieving a letter in the mail telling me it was dismissed. About 30 days later, I recieved the letter telling me my bankruptsy was discharged.

**Creditors are not allowed to contact you by law once your paperwork is filed by the court!

I did not have any assest so it was really easy for me. No house, had a 69 VW beetle, no cd's or stock or IRA's ect. I also spoke with a bankruptsy lawyer with a "Free Consultation" before I did anything to find out what process to go with and how it all worked. Look in the phone book for ones that offer the free consultaton.

If you have alot of assets, you may need to go with a lawyer. But they are expensive. Do it yourself if you can. If creditors show up at your court date, then you will be taken back with them and the judge for negotiation. Dont know how that works.


That was my Bankruptsy expierence. Now ya'll know.

Two years after the bankruptsy, my credit score was 649! Not that bad IMO. Getting a credit card with a decent intrest rate is another story. I did build up my credit by investing in a Secured Credit Card through my bank and using that and paying it off in full each month. It was only a $500 limit. But fair enough for me.

Now remember, this was 4 years ago. Alot of things have changed regarding how you can file for bankruptsy. Call a bankruptsy lawyer that offers a free consultation and make your decision from there.


Good Luck!

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