Main > Everything Else
Bankruptcy now... or never???
pointdablame:
I just wanted to say that there is a lot of good info in this thread. I'm sorry you're in this situation Mr. C. I'm only 21, so I can't pretend to truly know what it's like, however my parents came very close to declaring just over a year ago. I won't pretend to know everything that happened, however I know it got hairy for a while and the house was in jeopardy for a while.
It's a sucky situation, but I think under the right circumstances, bankruptcy could be the right answer. You'll just have to decide if that's the right choice for you. My parents are now in the process of building their credit back up, and its a tough road to walk. It can be done, but you really have to be dedicated to it and always keep it at the front of your mind.
Good luck. All this talk makes me realize I've been slacking on building up credit. I should look into a student card and start putting a balance on it/paying it every month. I'm starting to see that it's never too early.