Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Bankruptcy
Profile Image

Question By
Thicknessalot

0 Contributions
0 People Helped
How do I file for bankruptcy and what happens to my scores when I do?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1132 Contributions
1209 People Helped

Helpful to 0 out of 1 people

Look for a local BK attorney in your area.  Bk's are designed to help you resolve some serious debt.  It is not used to protect your credit score.  When you file, you credit score will go down the tubes....  If you are concerned about you score, then maybe try to educate yourself on how to budget and pay off your debt to an affordable level.

Top Contributor
269 Contributions
114 People Helped

Helpful to 0 out of 1 people

Bankruptcy is a pretty extreme action. I can't think of many good reasons for it, except to discharge a large judgment from a lawsuit  or to protect yourself from losing your home to foreclosure. It will absolutely destroy your credit, and for a lot longer than numerous bad debts.
I had several pages of derogatory accounts a few years ago, collectors pestering me constantly, and horrible credit. I'm very glad I just let those bad marks age and fall off though. I'm a month away from the last one coming off instead of three years away. Much better.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.