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Should I file for bankruptcy?

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Anonymous
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Should I file for bankruptcy?

I have 8 negative items, consisting of late payments on student loans and some charge offs. I only owe 1200 in collections right now. My credit score is 565 and not moving at all. I just got a secured credit card to help. There are no current delinquent accounts, but there were 4 delinquent accounts in the past that are up to date now. Given all of this, should I file for bankruptcy or should I concentrate on fixing my credit first? Any suggestions?
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Anonymous
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Re: Should I file for bankruptcy?

BK should always be the last resort.  The intent is to keep you from losing everything.  It is not to keep your credit clean.  Keep current on housing, transportation, and utilities.   Then keep your good credit lines good.  The bad ones are history and only time will clean them up. 
 
If you can find a way to pay the stuff in collections - negotiate.  Pay less and get it in writing that they will remove the bad credit line. 
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