rajshukla
Joined: 03 Jan 2012
Posts: 160
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 Posted: Tue Jan 03, 2012 12:47 pm Post subject: hi |
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Bankruptcy is a haunting experience that you wouldn't want to go through more than once. Unpaid bills for several months and years just kept piling up and your creditors kept hounding you. However, you got through it and survived. After getting back to your feet, repairing credit should be your next priority. It may be difficult but it's possible. Bankruptcy should not be a first option. In addition to having a huge stigma attached to it, it goes on your credit record for ten years. Aside from that it has gotten much more difficult to declare bankruptcy. It should only be used as a last resort. So you've gone bankrupt, and you have no idea how to get rid of the debt you've accumulated over the years. Filing for bankruptcy is not an option because you fear the detrimental impact that a bankruptcy can have on your credit record. A bankruptcy, after all, stays in your credit history for ten long years, during which you will be deemed "credit unworthy" by most, if not all, credit companies. But don't be too quick to dismiss this option. Contrary to common belief, your bankruptcy actually, in essence, frees you from debt and all the hassles it entails. Here are some good reasons why you should consider doing just that.
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