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
SteveT88

0 Contributions
0 People Helped
Whats the best and cheapest way to file bankruptcy?

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
2 Contributions
22 People Helped
Most Helpful Response

Cheapest is do it yourself

Helpful to 5 out of 5 people

The best way is to have an attorney do it for you but the cheapest is to do it your self.  I did it myself and it was a lot of paperwork.  I spent probably weeks doing everything but I saved over $1000.00 as I only had to pay for the filing fee and for the two bankruptcy classes.  total was less than $350.00.  

Also don't listen to these people who say it ruins your credit.  I had so much debt that it was going to take at least 7-10 years to pay it all off.  As soon as I filed bankruptcy and I was in the protection of the court my score rose 75 points to 591 from 516.  Yeah it stays on their but just as long as it would to pay it all off. 

Top Contributor
7353 Contributions
3808 People Helped

Helpful to 0 out of 3 people

Try to avoid doing so since it ruins your credit for 10 years.

Usually, bankruptcy attornies give free initial consultation and offer alternative actions.  They're on your side as well as creditors.  After bankruptcy you have to start totally over.  Think before acting.

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.