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Would bankruptcy be a good idea for me

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There's no way to know the answer to that unless we know something about your situation.
I will say bankruptcy does more damage to your credit than anything else, and is a pretty desperate measure. I can only think of two good reasons to file for bankruptcy: One is to protect yourself from foreclosure. Losing your home (and all the equity that might go with it) would be horrible enough, but in this day and age with credit checks for almost every rental out there I can't imagine trying to rent a place having just gone through a foreclosure. The second scenario is if you have a civil judgment that is simply too large for you to ever be able to pay off. Judgments can be executed at any time, and if you can't pay it off you will go through the rest of your life waiting for your wages to be garnished, bank accounts to be levied, or liens to show up on your property. 

Reasons NOT to file for bankruptcy: The very stupidest reason I can think of is to get collectors to quit calling you. A bankruptcy will eliminate the collection calls BUT you will get a whole new crop of jerks calling you multiple times daily wanting to loan you money, bad credit okay! If you just have a bunch of charge-offs, collections, and late payments and you think a bankruptcy will help by wiping them all out, think again. Your score will end up worse than it was before, and the effects will last longer. Relatively speaking, a lousy credit report is minor. Losing your home or a huge judgment are major, and I would use something as extreme as bankruptcy only as a last resort.

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