ago old Question To File Or Not To?

[Anonymous]

Here is my situation in a nutshell.

Scores TU:515 EX:426 EQ:505

Total Debt 10k (Soon to go up because due a cut in income I will have to relocate and break a lease 4months before lease is up)

Grand Total Debt (After breaking lease)20k

No open credit or good credit except student loans

8 Credit cards all CO with CA's largest with Cap One 1241.00 interest still pyling.

10 CA balances range from 500-800

At first I was on the bandwagon to fix my credit but since my income is drastically cut. I am having to move in with a relative just make ends meet.

Is there light at the end of the tunnel if I file bankruptcy? Or will I always have to suffer bad credit for mistakes made in the past?

Message Edited by AJ25 on 09-25-2008 11:34 AM

[granny031350]

the ultimate decision is yours.  After your BK you will only have the student loan debt to work out.  If you are out of work or cut back, having to only think about essentials and student loans might be less stress.  BK is a decision that should be looked at like a business.  If it is failing, you would close the door and walk away.  Take the emotions and the guilt out of the equation, then decide.