Should I Claim Bankruptcy..........
I'm 20 years old and like $8,000 dollars in credit debt, and i just bought a new dirtbike...which is another $6,000 dollars so total like $14,000.I wanted to know some information about claiming full bankruptcy if i should or shouldnt....and like what would be the outcome of it. Would i get to keep the $6,000 bike if i claimed bankruptcy or would they reposess ****Must Reach Senior Investor status before posting URL's*** only that i also want to know what happens after u claim like:can i still ever buy things,or will i ever get another credit card. Anyways ...........PLEASE HELP IM TO YOUNG!!!
Are you kidding???
I'd like to crack you over the head for even suggesting it!
NO!! You don't want to file for BK on 14000....When you're only 20 years old...
PLEASE???? READ some of the other posts on here about people trying to make it w/ LOW CREDIT SCORES... You wanna be struggling like that? Get another job...
Quit smoking, drinking, partying, hanging out... Whatever it takes! BUT, stay on top of those bills!!!
You took out those LOANS, Now pay them back!
What are you smoking???? First get control of your spending. Take some of that energy and read. I think Rich Dad Poor Dad may help you. Check it out for free and read it. The choices you make now will shape your future. I wish I would have started REI when I was 20 and not wasted so much time and money on silly things. (I to love to ride and have a bike)
Now be a man and do the right thing...pay your bills...
Good luck
Dude,
I never critisize anyone, but you are on some serious drugs. Never claim bankruptcy. I was $127,000.00 in debt at one point, WITH NO ASSETS, and I have never claimed BK. Get counselling from a Trustee, but whatever you do, do not file .
Freestylemotto,
You need to take bankruptcy serious. I did a chapter 7 bankruptcy when I was only 27 for $22,000. Worsed thing I ever did. All together, the payments only came out to less than $400.00 a month. That is nothing. Now, that I know better, I can barely get approved for anything. You see then, I didn't have anyone to give me advice like these great people in this forum. Listen and don't take this as a laughing matter or you'll be calling yourself stupid later.
I think that was the message.
You need a lifestyle change. Do it know when your young. some people never learn.
You can see the problem and are looking for advise. that alone puts you in a better postion than many.
What to do. stop spending money start spending some time in you own head. Spending as an escape doesn't work. get a few books then curb your cards period.
Pay what you owe , you will feel better and be better for you next chioce.
Sell the dirt bike, cut up the credit cards and start paying down your debt. Call one of the credit counseling agencies for assistance.