I am currently overwhelmed with credit card debt and owe more on my home than it is worth. I am not behind on any payments and no one is calling me, but I don't see any way of getting ahead in this lifetime. Friends and Neighbors, Is it time to file BK and start over?? I don't see any other options to get ahead and would welcome the new life without all of the debt. The machine caught me young and now I know better. I have fought a good fight. Thanks. TDP
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You know, I think you might have it better than most who file BK. You see that if you have to keep paying these payments, you will never get ahead. You may even begin to fall behind which will damage your credit. Right now, you still have great credit, right? Well, if you forsee having to file BK, do it while your credit is still good. Don't wait until things get bad and you get behind on your payments. For one thing, your credit will go down the tubes pretty quick. And two, if you wait much longer, the new BK laws will be in effect. If you file BK, your credit will take a hit, but all your positive history will still show! You might have negative entries for as many months as it takes for your discharge, but that is nothing compared to what most people have when they file. Some people have years of negative information.
I say, get out of the hole before you are actually in the hole.
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