Thread: bankruptcy?
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Old 05-10-2009, 10:19 PM   #1
Drives: 2004 Nissan Sentra Spec-V
Join Date: May 2008
Location: NW Ohio
Posts: 105

Hey guys, my sister keeps suggesting that I file bankruptcy since I've been worrying about paying bills for as long as I can remember. She filed a couple months ago and is happy. I'm not in "that" bad of shape right now. But I did get let go from my main job a few weeks ago and don't want to get further behind. I always pay my bills even if I have to "borrow" from another source such as credit card or home equity. My credit is excellent right now, but I had to defer my student loan payments again. If I can get a regular 40 hour a week job I should be fine, but have'nt had one since I got my LPN license a year and a half ago. I worked 3 part-time jobs for awhile, but now I'm down to 1 and unemployment. The economy is'nt good for nurses in my area either.
My sis also said her lawyer told her she could go out and buy a new car right after filing. I thought your credit would be shot if you filed for at least 3-5 years. Is this correct? I do know you could'nt get a house for awhile if you filed. Any body else tried to get a new car loan after bankruptcy and if so what kind of interest rate could you get? I guess it would save me around $250/month in credit card payments and maybe $60 or so in my private school loan. It costs about $1300 to file and I don't have that much cash (obviously). But paying $1300 to get rid of 13.5k sounds like a good deal. I guess what she did was stop paying the credit card bills for a few months to save up some money. That does'nt sound like a good idea, but that's what the lawyer said to do and it seemed to work for her. I think I would rather just get a decent job and move if I have to, but what do you guys think?
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