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
medic041

0 Contributions
0 People Helped
I am disabled and live off Federal Disability should I file Bankruptcy?
I am disabled and live off Federal Disability should I file Bankruptcy? and if I do how does it work even though I own nothing?

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
119 Contributions
32 People Helped

You're not providing enough information for anyone to really make an informed guess. The fact that you're disabled and living on SSDI has no bearing on whether you should file bankruptcy. Filing bankruptcy depends on how much you owe, how much you have available to pay on what you owe, and ultimately deciding that it's a hopeless situation--after trying every other imaginable strategy to work with your creditors. If you don't own anything that could be taken from you in bankruptcy, then that's not an issue--they can't take what you don't have! So if you filed, it would basically come down to having your debts wiped away, but you'd be stuck with the derogatory entry [bankruptcy] on your credit reports for 10 years.

Result 1-1 of 1Results 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.