Home > Bankruptcy Filing > What is better: Debt consolidation or bankruptcy?

What is better: Debt consolidation or bankruptcy?

  1. m. alvarez
    April 19, 2012 at 6:41 pm

    thanks for this info. I HAVE A QUESTION: I WANT TO DO BANK RUPTCY MY HUSBAND DOESNT, HE SAYS THAT TRAY TO PAY IS BETTER BECAUSE HE WANT TO BUY A HOUSE NEXT YEAR. IS THAT CONVENIANT FOR US? I DONT HAVE A JOB ONLY HE DOES AND HE MAKES 600 PER WEEK.OUR DEBTS ARE MORE THAN 35000. WE LIVE IN CALIFORNIA AGAIN THANKS FOR THE VIDEO.

  2. April 19, 2012 at 7:08 pm

    Difficult to say from St. Louis Missouri :). I would recommend to do two things, speak first with your real estate agent about the purchase and for which loans your qualify based on income and credit. To get a FHA loan there are waiting periods after filing for bankruptcy. I recently heard from a client she hasn’t had a problem getting a mortgage two years after filing, in addition she was debt free. But I am not sure about one year. The other thing is, talk to a bankruptcy attorney in your area. Most attorneys who are members of the National Association of Consumer Bankruptcy Attorneys (www.nacba.org you find an attorney through their website) will offer a free consultation. He would need to know more about the amount of debt you have and will be able to give you more specific advice.

    Thanks and good luck!
    Tobias

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