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Updated almost 13 years ago on . Most recent reply

Veronica Mackey's profile image
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Veronica Mackey
  • from los angeles, ca
  • Member since Mar 16, 2012
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Veronica Mackey's profile image
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Veronica Mackey
  • from los angeles, ca
  • Member since Mar 16, 2012
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Veronica Mackey
  • los angeles, ca
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Personal Finance

BK

Veronica Mackey
  • los angeles, ca
Posted

My credit score is low (540 FICO). About 40K in debt and thinking of filing BK. From a lender's viewpoint, is it less favorable to have a BK than low FICO? Does it matter?

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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

Sorry, but I'm having real heartburn with the idea you want to declare bankruptcy to wipe out your existing debt then turn around and try to buy a house. Take your time, get your financial house in order, then think about buying a house.

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