AT WHAT TIME in debt do you seek a brankrupt lawyer?

S

suzonka

New member
I was taken by a company resolutions for 11 months ,nothing was being paid off so it put me deeper in collection , now I have a good company management has me back on track and is immediately paying off creditors, concerned about did make the right decision because would bankrupt have been a better way out?
they tell me its going to be tetween 4 to 5 years and if iI should get lucky some creditors may settle for less of a balance after 3 months of good faith showing you are trying to pay off.
 
Bankruptcy affects you in many different ways.
You are announcing to the world, you will screw their grandmother if the price is right.
Your insurance goes up, financing becomes unaffordable. I was turned down for a $100,000 job because of my wife's bankruptcy.

The question is how long will it take you to dig yourself out of this hole. If it takes five or seven years, you are better off paying it off.
If it is hopeless, then you have to swallow your pride and do the dirty deed.

hint, shop only with people who make less than you. We buy a lot of stuff, that eventually just gets donated. Frugality can be learned.
 
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