to file or not to file

[sun1set]

I'm very unsure about pulling the trigger and filing. My petition is all ready to go, it just needs my signature and to be filed by my attny. I know that ultimately, its my decision, but I'm just so uncomfortable with the "unknown" factors about bankruptcy - how it will impact me for the rest of my life. Sure, if someone could tell me that I'd be able to build my credit score back up to a 720 within 3 years, then I might be less inclined to file. Someone once told me it could take up to 8 years to get the score back up. I'm also concerned about how it will impact future employment. Employers are now running background checks and credit checks to make hiring decisions.

I have tried a last ditch effort to negotiate with my creditors today. Apparently, I'm not really late enough for them to settle. If I decide not to file now, the new laws will take in effect and I'm afraid that the creditors will even be LESS willing to settle in a month or so because the laws are basically on their side.

Anyone have any input for me? Just looking for people's opinion. Did you regret filing? What is life like after?

[StaciMM]

If your only concern is your credit score post BK, concentrate on the factors that have led you to this point and think about whether or not you can overcome those on your own. If not, and if your budget allows no payments to your creditors, then filing BK might be a good move. (I can't say for sure-I don't know anything about your debts, income, etc.)

Regarding your credit score-there is more to life than that number. Sometimes, perhaps, we feel more secure knowing that we can finance anything we want to. Is that really a good thing? Concentrate on saving, preparing for the future, so that you don't need credit.