Is filing for bankruptcy really a fresh star???

Question

I've been thinking about filing for bankruptcy, yeh I am in my mid 20's and I have a repo on record, plus some delinquent bills that added up to be atleast 4,000. They say if you file bankrupt, then you can't get a great job so if i were to get my RN liscence, I wouldn't be able to get a job?, Also they say bankruptcy is on you for 10 years, so if I spend almost 7 years paying the debts off by myself, Am I better off, because to my understanding either way goes, the bad credit is going to show up one way or another, until it is clear. I've had bad credit for years, and I don't want to make it worse. But if I get all debt eliminated in 1 blow, after 7-10 years I won't have bad credit anymore, and I can Live where i want to live after bankruptcy is not on my record anymore.

Answer 1

You need to be more responsible with your money. Why should anyone have to pay for your lack of responsibilty? That is just being pure SORRY not paying for your own debts! That is no different than stealing. They gave you something that you were supposed to pay for and you refuse. Give me a break, get a job and stop trying to get something for nothing. How would you like it if I bought something from you and decided later after I had used it, that I didn't want it anymore and I just wasn't going to pay you for it? Think about it, that is pretty pathetic. If you can not afford to make payments now, then get second job. That is my 2 cents on bankruptcy. Thanks for listening. Any other questions?

Answer 2

$4000 is really not enough to worry about filling bankruptcy.  It will cost you at least $2000 in legal fees.  If I were you I would decide to get myself on track and start paying my bills on time.  You could repair your credit in two or three years and would be a lot better off than if you filled for bankruptcy.

Answer 3

bankruptcy should be the ultimate,final ,and least desirable option. why can't you pay your bills,tear up those credit cards and make arraignments to pay your outstanding debt. if you take the easy way out ,what will you learn ,time to take some responsibility ,grow a little ,pay it off it will fill you with pride in yourself.your 20 yrs old so if not now....when?..........tom

Answer 4

Don't file for bankruptcy just for $4k.  It is not worth having that on your record for such a small amount.  Certain applications always ask if you ever filed for bankruptcy..and you don't want to have to check yes every time.  Try to find a way - a payment plan or a second job.  You are young now and will regret it as you get older when you want to buy a car or a house. It seems like the easy way out...but it is not worth it in the end.  Good luck.

Answer 5

To answer your question, yes bankruptcy is a fresh start, but you do not have enough debt to qualify for bankruptcy under the new laws.