Thought help: I am thinking of filing for bankruptcy. - Help.com

Be sure to educate yourself on the bankruptcy laws because they have changed!!!!!!!!!!!!

It’s harder to file these days, because the credit industry bribed Congress to enable your creditors to follow you to the grave! Now, to file bankruptcy you have to have the CASH UP FRONT for your bankruptcy attorney–you know why, of course! It will be on your credit report for 10 years. Know what? People with bankruptcy on their records get all kinds of credit afterwards because you can’t file again for a decade! Here’s my personal take on it: the lenders have gotten so doggoned greedy, with their skyrocketing interest rates on credit cards and adjustable rate mortgages, that I feel it serves them right when they drive a person into inextricable debt. Here’s an example: you are late two weeks on your Visa bill, and Sears uses that as an excuse to raise your interest from 24 percent to 29 percent–even though you’ve never been a day late to Sears! THAT’S the kind of unbridled power the credit industry has, and it is killing Americans. It’s super hard to pay off credit card accounts with high interest rates and huge late fees! The creditors went from making a decent rate of return to gutting their customers! Title lenders charge 500 percent, and usually end up repossessing the car. IF you cannot see your way out of debt, by all means seek a bankruptcy attorney. By the way, those credit counseling services that negotiate with your creditors can really put you in a trick–and your credit report will look as bad as from a bankruptcy. Anyway, good luck to you!