Filing Bankruptcy

[Ruth]

Has anyone filed bankruptcy? If so have you ever signed attorneys documents online? I am thinking of starting the process but may have to wait a month or 2 to have all the money yet to file.

 

[tango]

Has anyone filed bankruptcy? If so have you ever signed attorneys documents online? I am thinking of starting the process but may have to wait a month or 2 to have all the money yet to file.

I knew a guy a few years back who was considering it. Most of the advice he got was that he should try anything and everything else first. That was in the UK, it might be different in the US, but it's the sort of thing that will almost certainly destroy your chances of getting credit on even remotely favorable terms (you could potentially end up having to pay in advance for utilities) and also potentially harm your chances of getting employment.

Also, as a general rule, I'd urge caution regarding just how much you post online (here or anywhere else) about any ongoing legal proceedings, simply because you never know who is reading.

 

[Lamb]

I have never done it but had a relative who did and you can't get a loan for 10 years afterward.

I have signed a lot of legal documents online. There are special things set up such as DocuSign that help make the process smooth. You're good at doing things online, Ruth so you wouldn't have a problem at all in figuring it out. It's fast because you don't have to leave your home and legal too when signing online.

 

[psalms 91]

Actually after bankruptcy you will get all sorts of offers for credit mainly because they know you cant file again for 10 years, so while your credit does take a major hit there is still credit available

 

[tango]

Actually after bankruptcy you will get all sorts of offers for credit mainly because they know you cant file again for 10 years, so while your credit does take a major hit there is still credit available

The trouble is that the kind of credit offered to people in bankruptcy will be far more expensive than anywhere else.

 

[psalms 91]

The trouble is that the kind of credit offered to people in bankruptcy will be far more expensive than anywhere else.

Yup you are right

 

[Ruth]

Thanks for the replies. My credit is already bad. I read the agreement online and there are other fees I cannot afford so I'm going to have to wait for a few mos. till I have all the money. Not paying anything but rent and utilities now.