Thought help: The economy is bad, real bad… I never thought of bankruptcy before until I realized I cant eat good anymore due to a 19,000 dollar debt.. - Help.com

aeolian mode
offline Verified (2 years, 9 months) Visit aeolian mode's shoutbox
Rocklin, CA, US

The economy is bad, real bad…

I never thought of bankruptcy before until I realized I cant eat good anymore due to a 19,000 dollar debt.. My question is when it OK to declare bankruptcy…..

This open post was written 1 year ago | V/U/S: 87, 2, 3 | Edit Post | Leave a reply | Report Post


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Since writing this post aeolian mode may have helped people, but has not within the last 4 days. aeolian mode is a verified member, has been around for 2 years, 9 months and has 325 posts and 2,869 replies to their name.

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Economy, debt, bankruptcy, Dollar, question, Thought, Eating, Declare (How Tags Affect Reciprocity)

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iwana offline Verified User (1 year, 3 months) Long Term User Shouts: 5 #
An Unknown Location | 1 year ago (9 minutes after post)

Whether it’s “OK” depends - bankruptcy sticks on your record for a long time. Is the debt something that can be renegotiated? Also, not all debts are wiped out in bankruptcy, and it also depends on the type of bankruptcy you file.

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gib offline Verified User (1 year) Long Term User Shouts: 2 #
An Unknown Location | 1 year ago (37 minutes after post)

I would advice you to get pro. advice. Maybe even go through a credit councelling service. I belive bankrupcy is a LAST resort. Usually people, even though in debt, still spend money that they should not be spending. I’m not saying this is your case at all. But maybe if you seek pro. advice & help, they can help you budget and figure out a plan where you can pay down your debt and still have enough money to live well.

I LOVE Suze Orman, she’s excellent at giving financial adive. She’s def. tough, but she knows what she is talking about!

I hope you find a way out of debt without having to file for bankrupcy. As Iwana said on the previous post, it stays on your credit report for, I believe, about 7 yrs.

Help is out there, I hope you find some finacial advice that will work in your situation!

Best wishes!

ps.
The holidays are rapidly approaching….DON’T get in unnecessary debt, or spend money you really can’t afford to spend! Remember, live within your means! =)

~Gaby~

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