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Posted in Bankruptcy
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Question By
jameswantsalifeagain

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i have to file bankruptcyhowmuch will thid hurt my very poor creditnoe
Ihavetofilebankrupcityhowwillthisaffectmy544scoreandrebuildmycreditnow

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If your debts are "unsecured" like credit cards or charge accounts, it would be the ultimate stupidity to file bankruptcy.  Your credit score would be in the sewer for the next 10 years.  Consult with a bankruptcy attorney and follow their directions.

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Reply by
meherc

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It's not helpful to answer a question by referring to it as the "ultimate stupidity." If your credit score is in the sewer anyway, and you're never going to be able to pay off the debt it will remain in the sewer and leave you struggling to make any payments. So the person in debt is constantly under enormous pressure, has no money because it's all going to pay the cc interest, and no giant inheritance is going to fall out of the sky. That doesn't seem too smart either, to stay stuck in the same place and sinking fast.

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