should I declare bankruptcy

[jtmoy19607]

I know I can't get rid of student loans with bankruptcy but if I declare bankruptcy can I rebuild it by paying down student loans?

[MarineVietVet]

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@jtmoy19607 wrote:

I know I can't get rid of student loans with bankruptcy but if I declare bankruptcy can I rebuild it by paying down student loans?

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You ask whether you should declare BK or not. You will need to give much more detail in order for people to give informed advice and suggestions.

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
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[Anonymous]

Get a free consult with a reputable attorney.  Just remember they are in the business of making more money if you choose to file, so they are obviously biased.  But they can give you information you need.

Also, call your student loan peeps and see what programs they have - there's some pretty nifty options, including, if I'm not mistaken, a 30 year payoff option.  At least that's what I'm seeing on my student loan site.  I'd recommend going this route first. 

[jtmoy19607]

ok, basically, I would discharge about 8500 but once that is discharged I can pay down small student loans of the same amount 2 which total 5500 and one small one to help rebuild my credit, would this help rebuild it? then I would have a lot less debt, while my credit score would still be down so would my debt level. I have too large student loans, but the interest on them is low and I could pay them down to also help rebuild my credit.

thanks,

[jtmoy19607]

my problem and concern is a judge nto discharging it feeling that I could've paid more down on it.

[MarineVietVet]

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@jtmoy19607 wrote:

ok, basically, I would discharge about 8500 but once that is discharged I can pay down small student loans of the same amount 2 which total 5500 and one small one to help rebuild my credit, would this help rebuild it? then I would have a lot less debt, while my credit score would still be down so would my debt level. I have too large student loans, but the interest on them is low and I could pay them down to also help rebuild my credit.

thanks,

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$8,500 doesn't seem like enough to think about BK. I certainly wouldn't do it especially with the advice and suggestions I can receive from these forums on what to do.

Are you working? I'd consider a second job long before BK.

What other kinds of debt do you have? Any CC debt? Car loans?  Are there any negatives on your reports?

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[jtmoy19607]

Are you working? I'd consider a second job long before BK.

What other kinds of debt do you have? Any CC debt? Car loans?  Are there any negatives on your reports?

From a BK years ago to:

I aM working second jobs are tough to find as being overqualified for most of them. I have a lot of student loans, 2 large ones that amount to over 200 a month, one car loan with little left on it, one negative, but my score is still over 700. and a few small student loans, low monthly payments and a small cc over 1000

[MarineVietVet]

I think beamMEup had an excellent idea about consulting an attorney. He/she would know the law and could properly advise you.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[jtmoy19607]

all of you post about bankruptcy from a few years ago and how your score has improved, from how long ago did everyone file and how long did it take to rebuild your credit?

[jtmoy19607]

for example:

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772