brankruptcy

[Alysia Newsom]

Has anyone had experience with bankruptcy? My husband and I are considering it after meeting with a debt management counselor that recommended it. We are trying to do everything possible to prevent this option, but the more we consider it the better it sounds. Our concern is how hard it will affect our future. We have nothing to loose as of right now, but our plans for the future will probably suffer. We had intended on starting a real-estate investing business and begin looking into the stock market beyond our mutual funds. Filing bankruptcy would alleviate the need for credit as much to get started, but it would take us longer to save up the start up money. Just looking for those that have filed to learn from their personal experiences. 

[Account Closed]

Alysia, filing for bankruptcy  is not the end of the world. Of course the cc companies want you to think so. But you CAN live without credit. I filed in 2001 ,read a bunch of books and learned my lesson. The laws have changed  since  then, but the main thing is to learn from it, and do not fall back into old habits. You aren't  giving us much info , but I know for a fact that what happened  to  you can happen  again. The good thing is that you can slowly  rebuild  your  credit and enjoy life again. Personally I think financial  problems  can such the life out of you . Just learn from  it. I bought a house in 2010 and just last year got my first c card. I just learned to save money and pay cash. I've been offered cards shortly after filing for bankruptcy,  but was not willing to  pay the interest  rates  offered. For me...I got a lot of satisfaction from not accumulating more debt. I hope this helps.