Declaring Bankrupcy?

[Krieg]

They'll immediately start offering credit cards afterwards with the promise of rebuilding your credit. What they really want to do is get you back in debt to them so that they can recoup their immediate loss in interest.

It should probably be pointed out that a major part of the motivation to get you back into the credit spiral again as soon as possible is the fact that once you file bankruptcy you can't do it again for six years. So if they get you hooked again (and the track record is good that they can) there is NO way for you to get out of it the second time.

 

[Dimwhit]

I had to do in many years ago. I took care of it before I got married so I didn't have to burden my wife with it. Wasn't too big a deal for me, but I think I'm the exception. I bought a house two years later, I got a credit card without too much difficulty...meh. It helped that my wife had great credit.

I'm not suggesting you do it, of course. That's just my experience.

 

[frankthedm]

1. Give trusted releatives thier inheritance early. if you want to make sure your kids get the house, give it to them now.

2. Make your stuff disappear on paper. "Sell" cousin a car that you then borrow from him/her. Spend a night or two at a Casino Hotel over in Joliet.

3. Use your Gamer creativity.