Reply
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
0

Bankruptcy Alternative - For Entertainment Purposes Only

http://www.americanchronicle.com/articles/viewArticle.asp?articleID=40088
 
Articles on this website pops up when I go searching for credit, debt, et al. articles on Google News. However, they seem pretty clueless so I don't post the articles. I make the exception with this one because it's a particularly dopey and uninformed article on the subject of BK.
 
The article is quite disconnected from a person who is weighing BK. Lectures that amount, "Well, you shoulda been smarter by ... or you really should have ..." don't serve much purpose. Oughta, coulda, woulda, shoulda. It's a perhaps interesting, but pedestrian, article advising how to avoid BK in the future.
 
New Contributor
rizeninme
Posts: 92
Registered: ‎09-26-2007
0

Re: Bankruptcy Alternative - For Entertainment Purposes Only

From the above mentioned article....

"In fact, if a debtor is declared as bankrupt, his or her financial life will be in a very dilapidated situation for the next ten years, at least."

Yeah, the article is just ignorant. I guess you have to wonder what their interpretation of "dilapidated situation" means, but for my husband and I we are doing just fine. We have two financed vehicles and were just approved for a mortgage only two years after our BK was discharged. True, we did not get the best interest rate, but we can refinance the house in a few years.

There is nothing that we need that we have not been easily able to get, so I do not consider myself to be in a "dilapidated situation" at all!

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}