Is Bankruptcy ever worth it?

[pesty4077]

Yea you will lose everything at that point but as I and others have said, you'll get card offers in the mail or on the net in about a month.

If you decide just not to pay, disconnect your freakin phone cause it will not stop ringing. Especially if you have more than one creditor.

Here is something most people do not know. By Law, if you write a letter to your creditor asking not to call your phone anymore, they are not legally allowed to do so anymore. I have a good friend who does this for a living, not quite sure of the exact law. He did this to all mine and I never heard them call anymore. He quoted the Law in the letter and it was sent certified.

 

[richiec]

Here is something most people do not know. By Law, if you write a letter to your creditor asking not to call your phone anymore, they are not legally allowed to do so anymore. I have a good friend who does this for a living, not quite sure of the exact law. He did this to all mine and I never heard them call anymore. He quoted the Law in the letter and it was sent certified.

Yeah, but you gotta be careful with a "cease and desist" letter. It could turn out ok, or they could take you to court. Situation determines action take

 

[pesty4077]

Yeah, but you gotta be careful with a "cease and desist" letter. It could turn out ok, or they could take you to court. Situation determines action take

Any small debt like 10K or less, most won't bother. Especially if it is unsecured.

 

[letsrun4it]

my buddy failed in a business venture and had 46k in debt and no job (he was a computer programmer going through depression). Filed and all 46k was wiped out. since he didn't have a job he didn't have to pay anything. NEXT DAY got a job for 102k he had already interviewed for. Found out 3 months later his student loans had been sold to a private foreign bank and he got his 96k in student loans wiped out.

2 years later his credit sucks but he's now making 130k and no debt.