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Question By
computerjosh22

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62 People Helped
Bankrupcty or not?
I am trying to improve my credit score. I eventually want my scores to be in the high 700s or higher. I know no matter what this will take time. I have done some work already on own and have manage to get my score from 574 to 624. Credit karma has suggested a few times for me to file bankruptcy but I am not sure if I should take this advice or go thru my accounts, dispute what is incorrect, and pay or settle my other accounts as I am able to. I have two or three accounts (depending on which credit report you look at) in collections totaling to $5,000 all together. I have to judgments on file with the highest one being about $1,100. I also have a student loan around $15,000 dollars total but I am on payment plan and I know no matter what this will not fall off until it is finished being paid. I also am in a state when it comes to money that I can start paying back my accounts slowly and one by one without interfering with my other bills. So which would be better for my score go thru and paying or settling my accounts as I am able to or filing bankruptcy?

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Top Contributor
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frist off your student loan(s) will not be part of a bankruptcy,

What ever you do don't file for bankruptcy,  you want to do everything to not go down that path.

Search out Dave Ramsey and read.

Top Contributor
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3809 People Helped

icuhowie is right!!!

Bankruptcy can only HURT your credit score, never benefit same.  Avoid going there at all costs.

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