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<blockquote data-quote="OpenWindow" data-source="post: 170461" data-attributes="member: 45"><p>Before you consider bankruptcy, look at the terms before you do it. We filed bankruptcy and all of our unpaid medical bills were covered, but I don't think student loans were. That makes me wonder whether any governmental fines or charges would be covered. We were able to keep our cars and our two vehicles, and we had to make payments to the courts to pay back 80&#37; of our debt. If you're thinking about moving to another state, bankruptcy will show up on your credit report for seven years. We still had no trouble getting financed for a house but our interest rate was really high. It may also be harder to be approved to rent somewhere new.</p><p></p><p>Our credit report was so bad that I'm not sure the bankruptcy made that much of a difference. We got an inheritance about 5 months after we filed and paid everything back 100%, which may have been one of the reasons we were able to get financing for a house. It did take a lot of pressure off of us at that point and gave us a lot of breathing room, but it didn't turn our lives around. </p><p></p><p>Linda</p><p></p><p>PS - I'm with Star - try to do everything you can (and more) to work with your state. Call everyone you can think of until you find one person on your side, and then see what they can do to help.</p></blockquote><p></p>
[QUOTE="OpenWindow, post: 170461, member: 45"] Before you consider bankruptcy, look at the terms before you do it. We filed bankruptcy and all of our unpaid medical bills were covered, but I don't think student loans were. That makes me wonder whether any governmental fines or charges would be covered. We were able to keep our cars and our two vehicles, and we had to make payments to the courts to pay back 80% of our debt. If you're thinking about moving to another state, bankruptcy will show up on your credit report for seven years. We still had no trouble getting financed for a house but our interest rate was really high. It may also be harder to be approved to rent somewhere new. Our credit report was so bad that I'm not sure the bankruptcy made that much of a difference. We got an inheritance about 5 months after we filed and paid everything back 100%, which may have been one of the reasons we were able to get financing for a house. It did take a lot of pressure off of us at that point and gave us a lot of breathing room, but it didn't turn our lives around. Linda PS - I'm with Star - try to do everything you can (and more) to work with your state. Call everyone you can think of until you find one person on your side, and then see what they can do to help. [/QUOTE]
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