D' Finance Bench

The Right Place To Sit At For Financial Advises

Is Bankruptcy the Right Option for You?

Bankruptcy devastates your credit and it also makes borrowing money nearly impossible. In some cases, it can even prevent you from renting an apartment or getting a job. Although bankruptcy will normally come off your credit report after 7 to 10 years, most lenders will ask if you have ever filed.

If you lie and say, “No” when you really have filed bankruptcy before, that is considered fraud and you can be prosecuted.

Bankruptcy should always be used as a final option. Paying off your debts is always better than filing bankruptcy. Filing for bankruptcy is also devastating emotionally, as well. Here are a few things to consider if you are thinking about filing for bankruptcy.

 

Continue reading

September 23, 2012 Posted by | Bankruptcy | , , , , , , | 1 Comment