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Shoul I file bankrupcy ?

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    #1

    Shoul I file bankrupcy ?

    I need advice from anybody who has expertize in bankruptcy matter and credit reports matters.
    One year ago I divorced but by my mistake I still had joint bank account and credit card with my ex husband in Bank of America.
    Basically bank account was mine and credit card used only my ex. Same time ago I realized that I had 0 balance on account, whats happened ? My ex max out credit carts and stop paying them. On "ours" joint card it is $ 45.000 balance and bank took money from joint checking account to cover theirs loses (is this even legal ?).
    So main question is whats better for me, file bankruptcy and start fresh or wait 7 years until collection which I already have could be removed from my credit report.
    I got problem only with this one credit card which shows as collection account on my credit, all other items on my credit are in good standing and my TransUnion fico score is 649.
    Thank you.
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    #2
    I love these questions...the reality it, if you even have to ask it, then the answer is yes

    Start fresh NOW, what would be the point in waiting? All you do is delay your recovery by 7-8 years. (if you even recover, after 20 phone calls a day, lawsuits, garnishments, etc).

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      #3
      Point of waiting might be that this debt is no mine also nobody calling me, sending any letters. All other debts I'm payng on time so maybe it is worth waiting another 5 years (already past 2 since collection filled) and wait till obsolete deletion.
      I even have second BoA credit card account, they canceled by line but I still receiving monthly statements and still paying them.

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        #4
        Well, nothing I can say will break the "emergency" mentality. If you are comfortable with the stress of waiting for the other shoe to drop, so be it. My guess, you are probably woefully misinformed about the consequences of Bk (please read through this site), so you are basing your decision based on myth and assumption.

        Granted, we don't have a full picture of your finances, but if you qualify for BK today, and it would wipe out this debt, there really is no point in waiting.

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          #5
          To be honest I'm very seriously considering bankruptcy but I prefer asking first. It is always chance missing something.

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