22 & Considering Bankruptcy!

[epiphany]

I don't think age should be a factor but the personal situation certainly is and I think that the OP can still dig out if determined.

It takes a great deal of strength to file for BK but it takes even more strength to acknowledge and admit, if only to oneself, that there is a problem that needs fixing.

To the twenty somethings on this thread who decided to file, or even not to file but to do something about their situation, I sincerely commend you for learning this lesson so early on. That wisdom is truly beyond your years.

Good luck to all.

ep

[debtmonster]

My father is 70 and he lost everything. He still works for about $200/wk. He had tons of money invested in stocks and lost about every penny.

[Flamingo]

I don't think age should be a factor but the personal situation certainly is and I think that the OP can still dig out if determined.

It takes a great deal of strength to file for BK but it takes even more strength to acknowledge and admit, if only to oneself, that there is a problem that needs fixing.

To the twenty somethings on this thread who decided to file, or even not to file but to do something about their situation, I sincerely commend you for learning this lesson so early on. That wisdom is truly beyond your years.

Good luck to all.

ep

I agree with Epiphany...also times are worse now and competition for jobs will be fierce and they will take applicants without BK or bad credit over others if given a choice of applicants to pick from. I have seen this occur and have also seen it occur to hiring interns from college during summers at a large bank at which we did contract work in the late 90's. They would not even consider a few applicants for the position who had bad credit (they were checked thoroughly). Anyone hired there also had to be fingerprinted (even us as contract). So when you are in your 20s, you are facing this all basically for the first time in the job market. Others who have not filed and are fighting for the same job you applied for will have the edge. Know that; it's reality. If you do end up filing, you will have to be more upfront as to yourself during interviews. As stated previously by me and several others on here, credit will be difficult, if not impossible, to get for a while, especially until this crisis is over which could be many years. Another try for someone in their 20's before making a decision whether or not to file is to sit down with a financial counseler/financial professional and let it all hang out as to what should or should not be done. It would probably be the best consulting fee one could ever pay.