Investing, Personal Finance, and Credit

Pros And Cons Of Filing For Bankruptcy

by Jessica
(Illinois)

What are the pros and cons of filing for bankruptcy in your opinion? Does anyone have a bankruptcy story to share good or bad?

Comments for
Pros And Cons Of Filing For Bankruptcy

Pros:

* Lets you get your finances under control quickly.
* Wipes out most common forms of debt instantly once discharged.
* Gives you a fresh start.

Cons:

* Hurts your credit score badly.
* Makes getting future loans difficult until 7 years has past.
* Can be emotionally hard pride wise.

Don't let anyone pressure you into either bankruptcy or debt consolidation. There are a lot of sharks out there who just want your money, so take your time when deciding what you want to do.

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Investing, Personal Finance, and Credit

Pros And Cons Of Filing For Bankruptcy

Comments for Pros And Cons Of Filing For Bankruptcy

Comments for
Pros And Cons Of Filing For Bankruptcy