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bankruptcy or repay debt? (need help badly)bankruptcy or repay debt? (need help badly)
epolzinggo said: "i know that the laws of bankruptcy will change on october, my husband want to file before oct., but he was advised not to because they said that MY CREDIT WILL ALSO BE AFFECTED, since he is married.
is this true? i need help. i just got here recently and i havent really started building my own credit.
what is the best thing to do? repay all debt, eventhough its 10 yrs old. consolidate? or whatever?
i really need help so that we could start from a clean slate."
David said: "anything over 10yrs should have been removed off your CR already.. if it hasnt.. yell at the CRA for not doing their job.
My understanding that your credit wont be affected unless you have joint accounts that are listed in the bankruptsy. Why would you be held responsible for debts of another person??
Thats like your neighbor taking out a loan and the collectors trying to get the money from you ( not that some collection companies wouldnt try that )
here is the golden brick road.
1. Make collectors Validate their claim that you owe THEM the money. Just a print out with numbers on it is not good enough. They have to produce something with your signature on it .. and 9 times out of 10 they cant.
2. Dispute with the credit reporting agencys. If its wrong or very old.. dispute dispute dispute.
3. STAY OFF THE PHONE WITH EVERYONE!!!!.. The golden rule is.. If its not in writting.. it was NEVER said.
example. I had a collector yelling at me one time.. all she could scream in the phone was PROVE IT PROVE IT PROVE IT YOU DONT HAVE IT IN WRITTING BECAUSE WE DIDNT GIVE IT TO YOU.
If they dont do it in writting. you dont have proof.
I know that pyro has a solid list of rules and steps on here someplace but these are the majors."
anchorbob said: "Welcome aboard,
Make sure to make a proper assessment of where you stand right now. Order all your reports, and see what's really going on. Then you can map a strategy for success."
bangelico said: "[url]www.negonline.com[/url]
-Brian"
anchorbob said: "Why don't you explain how you can help rather than dropping a URL? You don't want to develop a rep as a forum spammer."
JoshJohnson said: "Bankruptcy is almost always a bad idea. Make sure to exhaust all other possibilities first."
pryan67 said: "[QUOTE=anchorbob]Why don't you explain how you can help rather than dropping a URL? You don't want to develop a rep as a forum spammer.[/QUOTE]
because he CAN'T help...unless the OP pays him...
hmmmm...not to mention no reference to the cost on the website...they CLAIM a money back guarantee...but that implies that you have to pay in advance, which is illegal"
benwood84 said: "[QUOTE=pryan67]because he CAN'T help...unless the OP pays him...
hmmmm...not to mention no reference to the cost on the website...they CLAIM a money back guarantee...but that implies that you have to pay in advance, which is illegal[/QUOTE]
How is it illegal? Credit repair is legal, as long as they provide written information on the FCRA before the services begin. Paying ahead is illegal? Not according to my/our lawyers."
shaggyjunior said: "there's consolidation, credit counseling if you need it (check BBB reports of any credit counseling company before you deal with them)
bankruptcy is the last option, and it isn't a good one"