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SVTPerformance's Chain of Restaurants
Road Side Pub
Bankruptcy experts, need your help!!
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<blockquote data-quote="Khan" data-source="post: 16235637" data-attributes="member: 184865"><p>Chapter 7 they will take his car and clean all debts for a clean slate except for things like student loans. Now if he has property ie house chapter 13 is better. I believe chapter 13 there is some kind of payment involved so as to not lose house.</p><p></p><p>For personal, chapter 7 is better. Did it 3 years ago by myself no attorneys or lawyers. Once you start the process, the bankruptcy court sends notice to your creditors basically telling them you are in bankruptcy process and to stop harassing you. Make sure you list all your creditors.</p><p></p><p>To be honest, best thing I have ever done. I thought life after bankruptcy was going to be shit but turned out pretty good. Well credit history went to shit but after year one credit history started going up. By end of year 2 I was in the 700s. Used 2 credit cards that I spend $15 on each every month and paid them off and one of those secured personal loans for $500 to build my credit. After 2 years I was able to purchase a house. </p><p></p><p>Bankruptcy sounds bad but depending with situation, can be best thing.</p></blockquote><p></p>
[QUOTE="Khan, post: 16235637, member: 184865"] Chapter 7 they will take his car and clean all debts for a clean slate except for things like student loans. Now if he has property ie house chapter 13 is better. I believe chapter 13 there is some kind of payment involved so as to not lose house. For personal, chapter 7 is better. Did it 3 years ago by myself no attorneys or lawyers. Once you start the process, the bankruptcy court sends notice to your creditors basically telling them you are in bankruptcy process and to stop harassing you. Make sure you list all your creditors. To be honest, best thing I have ever done. I thought life after bankruptcy was going to be shit but turned out pretty good. Well credit history went to shit but after year one credit history started going up. By end of year 2 I was in the 700s. Used 2 credit cards that I spend $15 on each every month and paid them off and one of those secured personal loans for $500 to build my credit. After 2 years I was able to purchase a house. Bankruptcy sounds bad but depending with situation, can be best thing. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Bankruptcy experts, need your help!!
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