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Question By
radiocontroll

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should i consider filing for bankrupsey

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It all depends.

Helpful to 9 out of 9 people

What is your debt ratio to income? Think about it like this... Can I make payment arrangements and clear my accounts within 10 years by doing so? If the answer is no then you probably need to file for bankruptcy. However do not take bankruptcy lightly, you should do serious considering before filing and find a **** good lawyer before doing so. Don't go with a lawyer who wants to charge you an arm and a leg. Don't be discouraged, sometimes you need a fresh start, but remember if it will take longer for a bankruptcy to come off of your credit than it will to pay it off slowly then bankruptcy isn't worth it.

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1 Person Helped

bankruptcy

Helpful to 1 out of 2 people

how do i go about filing bankruptcy?

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1 Person Helped

Helpful to 1 out of 5 people

can't pay bills

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requesting a good bankruptcy lawyer

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I am requesting a good bankruptcy lawyer, I always seem to get the lawyer that wants to rake me over the coals. please help.

Tracy

engn999@hotmail.com

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Look for reviews on "major" websites like Yelp or Google +.  Avoid anyone with consistent bad reviews.  

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122 Contributions
82 People Helped

You guys need to stop running

Helpful to 4 out of 19 people

Things get tough but part of being an adult is handling your situations and fixing them yourself. Bankruptcy isn't a quick fix and will damage your credit for at least 10 years so afterwards you will be screwed on getting any line of credit. Just make payment plans and dispute things that are not yours and little by little you will climb out of those debts. Try doing this instead of running to a solution in which you didn't think of clearly before doing it...

Reply by
colorobin

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Helpful to 1 out of 1 people

My 26 year old son owes $65,000 in school loans and one of them has been transferred to a bank loan for a lower interst rate.  He cannot afford to live.  It's serious and he cannot see a way out.  He feels going to school has set him up to fail.  Any help would be appreciated.  He does not want to file for bankruptcy.  He is living very modestly.  Thoughts?

Reply by
Lprdgddss69

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20 People Helped
Helpful to 11 out of 11 people

As someone who had been a single mom of 3 for a very long time I can honestly say it is not that simple. Most people with a significant amount of debt have a ton of medical bills. Some in which would take the better part of 20 years to pay off if they make a payment arrangement they can afford. So no it isn't about "not being an adult and fixing things yourself" sometimes it is more logical to have a bankruptcy on your report for 7-10 years then to leave it damaged for 20 or more years. Bankruptcy allows you to start over. Yes it may look bad on you for a few years, but for those who can barely afford to live, it is 100% worth it. Now if your someone who has to file bankruptcy more than once in your lifetime, then I would say, maybe you should set your priorities straight. But for those who started out rough and just need to get on the right track I would say go for it!

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