Chapter 7

[PurpleRain]

From someone who has actually filed, what are the pro's and cons of filing for bankruptcy?

[carolinagirll]

I worked for a bankruptcy atty for 2 years...PM with your questions

[SezzySue]

my parents just finished getting out of their second, I can ask them for you. Having NO credit was a big issue for them. Banks wouldn't let them have have anything but an ATM card, not even checks. And their income was so low they were getting less that $200to live off a week for everything (gas, food, living). And their job was delivering papers so they went through a lot of gas.

[missX]

I filed for chapter 7 back in feb. I had a great lawyer and the process was quick and smooth. I had a large amount of medical debt that I just couldn't seem to pay off. I am a hospital employee and my insurance coverage is so poor that I was unable to pay everything in a timely manner. I had actually paid over $5000 in 10 months and still couldn't catch up. I was being garnished and was left with very little to live on.

I choose to file after a year of careful thought and exausting all other options. My advice is to try everything before you file because once you do, it's on your credit report. Sure it's nice not to be stalked by creditors but I can't do much with my credit. I'm worried now that DF and I want to get married, that it will effect him or make trouble for us to find housing. I've recieved a million offers for car loans but a few credit cards with a outrageous interest rates. I guess that's the name of the game though.

I did end up still repaying about $250 to my creditors because they counted my garnished income as money recieved. Make sure if you do file you have all your ducks in a row and ALL your creditors info included so that you don't end up owing anyone else money in the end.