Last Resort...Bankruptcy
Step 4
Ok so you have tried Credit Counseling, your credit is so bad that you cannot refinance. Your just out of luck.
When every door seems like it has closed, their is always one door open usually.
Bankruptcy
If your like most people bankruptcy is a bad word. It makes you feel like you failed at something. Which in all reality, it is a way for you to start over fresh again.
Now Bankruptcy is not for everyone.
So we suggest that you post some questions in our community forums to get a feel for what a bankruptcy is all about. You can also read some inspirational stories form other members.
So to check our forums out below.
Bankruptcy Pros / Cons
Ok so you know a few things about bankruptcies, but let's go over some simple pros and cons of filing fro bankruptcy.
Cons
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Your credit will be dramatically effected.
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A bankruptcy may stay on your credit report for up to 10 years
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You may have difficulties getting new credit and loans
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Your interest rates might be higher
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It might be harder to get checking accounts
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You might end up in debt again and cannot file for a while
Pros
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You might feel less stressed
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Your family might have a better future
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You may have the money to go to the doctor or buy food
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You may just be able to sleep again
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You can start answering the phone again
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Getting the mail might not be as bad as it once was
This is just a general list. Either way the
decision is up to you and your family to decide what is the
best choice for you to make.
Sometimes the hardest choice is the one that makes the most sense.
Forum and Resources
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