What is the downside to bankruptcy

[Fallonedward]

I love this statement "Bankruptcy is the first step to recovery"

I feel this is so true, we are on the road to recovery. Now we can accept a job with lower pay because we don't have all of the CC's to pay. If we don't find a job we can walk away from the house and start over. I just really feel it is a relief to have this behind me and now I have the ability to start over again fresh

[beachchick]

The down side is nothing compared to the upside, getting your life back, read Bankruptcy, How To Survive and Prosper, available on Amazon.com. This book really tells the truth about bk.

[rdknipp]

Also, the concern of not being able to file for 8 years if you come into some unexpected financial issues only pertains to Chp 7. If you would be eligible for a Chp7 then you'd also be able to file a 0% Chp 13 plan after 4 years if needed...

[SocalBroke]

It's been about 1½ years since discharge and honestly have not experienced any downsides. I was approved for a capitol one credit card the day after discharge and I pay it in full every month ( I LOVE seeing $0 in the interest charged column). Renewed my lease at the same place I was living so didn't have to worry about a credit check and I did a ride through with my car which will be paid off in 2 months. For me, it was one of the best decisions of my life.

[andy158]

It's been about 1½ years since discharge and honestly have not experienced any downsides. I was approved for a capitol one credit card the day after discharge and I pay it in full every month ( I LOVE seeing $0 in the interest charged column). Renewed my lease at the same place I was living so didn't have to worry about a credit check and I did a ride through with my car which will be paid off in 2 months. For me, it was one of the best decisions of my life.

Just got an offer for an Orchard Bank cc with 12.9% apr with a 0% intro for a year. $15 annual fee. Not bad considering we are still in bk13. Looks like some of the cc companies are doing an about face with all the buisness they are losing. May work to everyone's aadvantage.