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hynson89

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Will bankruptcy mess up my credit report

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YES!!! Unless you are facing a lawsuit from a creditor for a huge amount of money that you couldn't possibly pay off within ten years, or you're about to lose your home, there is no reason to file for bankruptcy. If you just have a lot of collections and chargeoffs, let them age off your credit report. They'll be gone in seven years, but bankruptcy will be on your report for ten years and every credit application you ever fill out will ask if you have EVER filed for bankruptcy. You don't want to say yes and you don't want to perjure yourself either. Bankruptcy is a very extreme solution to an extreme problem. Most people who have filed for bankruptcy really shouldn't have done it, and the law firms that advertise their bankruptcy filing services are a bunch of unscrupulous vultures. I know the calls from bill collectors can get aggravating, but that's also no reason to file for bankruptcy. The collectors will stop, but a bankruptcy will never truly go away. 

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