Charge offs on credit reports

[Ann]

Well, I finally made the decision to plan on filing for bankruptcy. I first need to get the credit counseling going. My question is I have decided that I am no longer going to make payments on my personal loans and credit cards. Only on my home and on my 2 cars. I haven't made a payment on my 2 lines of credit in a 60 days and was wondering if they go into collections or charge offs before I file for bankruptcy will this do more damage to my credit than a bankruptcy alone would or does it really matter? I mean when I emerge out of bankruptcy will the fact that I didn't file before it went into collections really make it worse?? Please let me know! Does making just a "good faith" payment keep you out of collections? Thank you so much!

[747LUVR]

I made a few 'good faith' pymts... just so it shows I tried... but it still goes into collections. BK is the big daddy of them all, so who cares if they go to chargeoff's, its being filed under your BK anyways, so its a moot point. Are you concerned about your credit score?

[2manybills]

Within a week after filing, they started showing up on my credit report - saying Bankruptcy. BofA even put Bankruptcy Debt Discharged!

[Pizza]

Just worry about getting through bankruptcy, keeping what you can, and starting over from scratch. Your credit report will be so hammered BK/Chargeoff, etc. that it shouldn't matter to you right now. You will have to live on cash and by accomplishing this, you can position yourself for better credit in the future by not repeating your past mistakes. Worst that could happen is your car goes caput and even then you can find a cheapo at one of those "guaranteed credit approval" places.