What was your life and credit like after you filed bankruptcy?

I am considering filing bankruptcy and just wanted to know how it affected those who have already filed under the new bankruptcy laws.

Thanks!

This entry was posted on Sunday, August 24th, 2008 at 10:38 am and is filed under Bankruptcy Law. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

5 Responses to “What was your life and credit like after you filed bankruptcy?”

1. Connie Says:
   August 27th, 2008 at 9:32 am

   i have no clue but im pretty sure it suks

2. SPIFIMAN1 Says:
   August 28th, 2008 at 12:43 pm

   OK, your not getting any response so I will try and help.

   My BK was back in 2001 and it was the best thing I ever did, I was faced with divorce, moving to another State and over $35,000.00 in credit card debt.

   I was lucky enough to have a Ford account that I reaffirmed on and this helped a lot. After the discharge I got 2 credit cards and used them for everyday thing, never exceeded 30% of my credit limit and paid in full before the due date.

   1-year later I bought a new car with no money down and 3.9% interest a year later I bought a home again with no money down and a 6.5% fixed rate.

   Today my credit score is well over 700 on all bureaus and I can get approved for anything I want at the very best rates.

   The important thing is how you manage your credit after the bankruptcy.

3. amit s Says:
   August 29th, 2008 at 9:57 am

   well its gonna be stressful and you may feel worthless but dont lose hope,life is not fair,just remember that.

4. pudn36 Says:
   August 30th, 2008 at 1:33 am

   Thre is life after bankruptcy; but the consequences are heavy. You start fresh without owing to anyone, but your ability to take out a loan is frustrasted for a few years. 10 years in Utah, and 7 years in all other states. The laws now reqire some sort of garnishment of wages depending on your individual situation. But we were able to take out loans for a car since we didn’t have bad credit with them. Abt 1 year after bankruptcy we started getting credit card offers in the mail; but you start out with a very low balance. Never go with secured credit cards.

5. mister ed Says:
   September 1st, 2008 at 9:28 pm

   everyone i have talked to say it was the worst thing they could have done under the new laws!!!!