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New Contributor
Posts: 66
Registered: ‎01-06-2013
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what should my GF do!!!!!!!!!!!!!! Fix her Credit or File for Bankruptcy

She owes 14,520 in total debt. Her Transunion FIKO is 607 Credit score.... she has 13 Total accounts. 

 

Total 13 Accounts

8 are Derogatory

5 are still open.

 

should she file for bankruptcy or attempt to fix her debt. We are trying to buy a house in the long run. Which would be the best ideal realistic fix. Is it worth to fix the debt or file for bankruptcy now and wait a year or two.

 

Thanks, any feedback would be great. 

 

Sincerely a screwed BF!!!

 

 

Valued Contributor
Posts: 1,979
Registered: ‎07-12-2012
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Re: what should my GF do!!!!!!!!!!!!!! Fix her Credit or File for Bankruptcy

I would seriously try to tackle that debt! Filing bk will prevent the purchase of a home for at least 2-3 years. Not to mention the long term effect a bk would have. Good luck!

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
704 EQ FICO 03/2015
718 TU FICO 03/2015
679 EX FICO 03/2015
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Posts: 399
Registered: ‎03-01-2012
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Re: what should my GF do!!!!!!!!!!!!!! Fix her Credit or File for Bankruptcy


Scupra wrote:

I would seriously try to tackle that debt! Filing bk will prevent the purchase of a home for at least 2-3 years. Not to mention the long term effect a bk would have. Good luck!


I agree....$14k in debt i childs play.  If those are not in collections, try to negotiate those debts down to managable amounts and PFD.  Offer 20% of the debt owed and work from there.

Filed BK7: 7/12 (discharge 10/12) 5/12- EQ FICO - 508 / TU FICO - 490
EQ FICO: 677 (02/15)
TU FICO: 651 (02/15)
EX FICO: 671 (02/15)
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Regular Contributor
Posts: 190
Registered: ‎11-27-2011
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Re: what should my GF do!!!!!!!!!!!!!! Fix her Credit or File for Bankruptcy

since the debt is reasonable, try paying those down. it may be a long process, but it can be done......best of luck


Starting Score:Equifax 543
Current Score:EQ665 TU 663 EXP625 updated 12/6/2014
Goal Score: 650


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