Hi all,
I was here a few months ago. I thought at first that if I don't have the money to pay my bills that the only option was to file for BK. After some more reading and people helping me here I see that just defaulting and not filing is an option, but I have some questions as the idea scares me a bit.
-How do you ever rebuild credit this way? It seems that when you file BK you get that "fresh start" and can make improvements to your score even if slowly.
-If I get a judgement against me, what can they come after? I don't currently have any income, but family helps me and I may have cash in the bank from selling some items. I may be getting disability in the future, but that is protected in Ohio.
-I don't have intent to defraud, but what can be done about purchases made right before you stop paying? I know for BK you have the 70/90 rules, but what if you aren't going to file? Would purchases make the creditor more likely to sue? What happens to people who make big cash advances or purchases and then stop paying? This sounds like a criminal act to me.
Here is my initial post. I'd appreciate it if you took a look and I could get some more opinions on whether or not to file as well as getting this post answered: http://www.bkforum.com/showthread.php?t=36153
Thanks much!
I was here a few months ago. I thought at first that if I don't have the money to pay my bills that the only option was to file for BK. After some more reading and people helping me here I see that just defaulting and not filing is an option, but I have some questions as the idea scares me a bit.
-How do you ever rebuild credit this way? It seems that when you file BK you get that "fresh start" and can make improvements to your score even if slowly.
-If I get a judgement against me, what can they come after? I don't currently have any income, but family helps me and I may have cash in the bank from selling some items. I may be getting disability in the future, but that is protected in Ohio.
-I don't have intent to defraud, but what can be done about purchases made right before you stop paying? I know for BK you have the 70/90 rules, but what if you aren't going to file? Would purchases make the creditor more likely to sue? What happens to people who make big cash advances or purchases and then stop paying? This sounds like a criminal act to me.
Here is my initial post. I'd appreciate it if you took a look and I could get some more opinions on whether or not to file as well as getting this post answered: http://www.bkforum.com/showthread.php?t=36153
Thanks much!
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