Comments on: What does filing bankruptcy do to your credit report? http://www.bankruptcy--court.net/credit/what-does-filing-bankruptcy-do-to-your-credit-report/ Call 888-653-9681 To Get Debt Help Now! Tue, 08 May 2012 02:57:21 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Deb http://www.bankruptcy--court.net/credit/what-does-filing-bankruptcy-do-to-your-credit-report/#comment-7529 Deb Sat, 25 Jun 2011 05:08:38 +0000 http://www.bankruptcy--court.net/credit/what-does-filing-bankruptcy-do-to-your-credit-report/#comment-7529 Ok, I know your going to think I'm crazy when I tell you this, but $5,000 isn't a lot of money to owe. Now, before you call me crazy...lets explore a couple of options. Who's asking you to pay $5k TODAY? The answer is probably "nobody". Continue making your payments if you can. If you're having trouble with the payments contact a reputable credit counselor in your community. I would deal with a local company over one that's on the internet. This way you can go to their office to make payments or ask questions. You should also know that under the newer bankruptcy laws, you may have to pay off your debt anyway. Depending on your income and other circumstances, a judge may decide that you have to pay all or part of the debt. Credit counselors can usually get your interest rates down, and may even be able to negotiate late payment fees, etc. So, when it's all said and done, it might be just as cost effective to deal with the counselor. I don't know how old you are or what assets you have; but if you ever want to buy a car or a house you should do everything in your power to avoid bankruptcy. Ok, I know your going to think I’m crazy when I tell you this, but $5,000 isn’t a lot of money to owe. Now, before you call me crazy…lets explore a couple of options.

Who’s asking you to pay $5k TODAY? The answer is probably “nobody”. Continue making your payments if you can. If you’re having trouble with the payments contact a reputable credit counselor in your community. I would deal with a local company over one that’s on the internet. This way you can go to their office to make payments or ask questions.

You should also know that under the newer bankruptcy laws, you may have to pay off your debt anyway. Depending on your income and other circumstances, a judge may decide that you have to pay all or part of the debt. Credit counselors can usually get your interest rates down, and may even be able to negotiate late payment fees, etc. So, when it’s all said and done, it might be just as cost effective to deal with the counselor.

I don’t know how old you are or what assets you have; but if you ever want to buy a car or a house you should do everything in your power to avoid bankruptcy.

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