I'm going bankrupt. What's the smartest thing to do?

Question

I've been really low on money so i had to go bankrupt.

There's at least 5 credit cards that i cant pay for anymore,

so i declared bankruptcy so that i wouldn't have to pay for them.

But there's about two credit cards left that i haven't used.

Should i keep them until i get my new job?

or should i just spend all the money in it and go bankrupt on it, too?

i cant get a credit card for seven years because of going bankrupt.

so whats the smartest thing to do?

and i'll get a job soon.

I'd appreciate any advice for going bankrupt, too.

Thanks. :)

Answer 1

*Do not spend all the money on those cards because you will have to pay those back even if you are going bankrupt!

*Get in the habit of living within your means, only use credit cards for emergencies.  Pay off the credit cards that you have or will have by paying more than the minimum.

*Its not true that you cant get a credit card for seven years, you will be getting credit cards after bankruptcy except your credit card limit will be very low and the interest on them will be very high.  

Answer 2

If I were you, the first thing I would do is go to Barnes and Noble and buy "Total Money Makeover" by Dave Ramsey. Awesome life-changing reading! Or go to his web site to find out more at http://www.daveramsey.com

Second of all, do not use the rest of your credit cards. Forget about them. Here's the word of wisdom for you: "The rich rule over the poor, and the debtor becomes a servant to the lender" - King Solomon.

Get yourself a money management software, like Quicken or Microsoft Money. Keep track of where your money comes from and where it goes. Debt management is 10% mental work and 90% behavior.

In order to get out of debt faster, start a home-based business with multiple streams of income like me. But beware of scam.

I'll be glad if my advice helped.

Answer 3

You should read this article about repairing your credit, http://www.monitorbankrates.com/how-to-b...

Answer 4

If you use the credit cards, you will have to wait at least 180 days in order to include them in your bankruptcy.  Even if you don't use them, once you file the bankruptcy, the accounts will be closed.

You do not have to wait seven years to get a credit card.  If you start with a secured card and do everything right, you could get an unsecured card in 2 to 3 years.

BTW, a bankruptcy will stay on your credit report for 10 years.

Answer 5

wait it sounds like you haven't filed for bankruptcy yet.and if you have to go bankrupt you could be charged with fraud if you run up bills on those other cards.you cant file and then file again it doesnt work that way.