what is worse
What is worse bad credit or a bankruptcy? When you say bad credit it could be a combination of all kinds of things, credit cards with notation of slow pay, no pay, or even at some point charge off. Some people don’t even have credit cards but they have a combination of the other bad things A Broken apartment lease’s is a real killer, you can not get into another apartment with one and they way they jack up the amount it is worth it for some attorney to wait and sue you at some point. Cars that are reposed bad Now you can not buy another car at any kind of good interest rate or
the only thing you can do is go to a tote the note place where you pay to much and even if you pay it off it does not help your credit. Medical bills they say they don’t hurt your credit well with enough of them and then they go to collections yes they hurt your credit. So after any to these things happen the old saying comes out “well every things falls off your credit in 7 years” NOT!! Only the good things fall off. A collection agency will pick up that bad account and keep it on there for another 7 years or sue you and get a judgment against you.
Yes filling a bankruptcy is a negative thing to do. The thing it does allow to happen is give you a new starting place meaning since you filed what have you done. So now in a short time your credit score will be up over the 5 hundreds so now creditors will take a chance on you and help you to continue to rebuild your credit.
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