Is it better to file for bankrupsy or just work out the debt?

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Well im kind of having a problem desiding weather to file for bankrupsy or just work the debt problems out with the credit card camponies. What do you think would be the better choice.?
In the long run will I have bigger problems or not?

5 Comments
  1. Reply
    vincent l
    July 21, 2011 at 4:01 am

    Work your way out of debt. If you file for bankruptcy your credit is gone for the rest of your life.

  2. Reply
    dart
    July 21, 2011 at 4:59 am

    When you file for bankruptcy (note correct spelling) you make it impossible to get ANY SORT OF FINANCING for ANYTHING for something like seven years.

    Not to mention that you PROMISED you would pay these people back, and THEY are depending upon you to do so. If you file for bankruptcy, THEY lose all that money! Think what an awful world it would be if everyone defaulted on their promises!

    Yeah, in the long run, you will have much bigger problems!

  3. Reply
    Resourceful - Daniel
    July 21, 2011 at 5:44 am

    You’re a fucking moron who obviously never thought about the consequences of running up your debts.

    You will have your wages garnished if you do that.

    Also the way you spend money is a problem.

    Man, some people are fucking clueless.

  4. Reply
    MP
    July 21, 2011 at 5:49 am

    i know a lot of people who have filed and been able to return to normal life, but I would recommend working it out for your self-image and confidence’s sake…

  5. Reply
    Bill
    July 21, 2011 at 6:22 am

    Bankruptcy may seem the easier way out but it should really be considered a last resort. Changes in the bankruptcy laws have made it more difficult. Most times you’ll still be required to pay back a good portion of the debt through chapter 13 and attend credit counseling. You’ll also have attorney fees and be subject to allowances.

    You may consider debt settlement as a less stressful alternative. They will work to get your debt settled for less than the original balance. This is especially good if a decent chunk of your debt is due to interest. Another option is debt consolidation.

    Whichever you decide, RESEARCH, RESEARCH, RESEARCH.
    Know what you’re getting into before you commit to anything.

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