CassieNet News :: Already got a mortgage :: RE: Is bankruptcy the last option?

Already got a mortgage :: RE: Is bankruptcy the last option?

Author: Caron
Posted: Thu Nov 24, 2005 3:27 am (GMT -8)
Topic Replies: 2

Hi Jerry,

I do agree with you. Indeed Jessica has put forward some good ideas on considering bankruptcy as the last alternative to get out of debt.

I know some people who have indeed suffered by filing bankruptcy as they had to do without any loans for long 10 years. Actually, bankruptcy creates a negative effect on the credit report and lenders feel it is risky to offer loans to such a person. But I believe one should at least think of some alternatives to bankruptcy.

One should try out and think of some solutions to pay off their debts instead of filing bankruptcy. And, if one does not find any solution, then he can atleast consult a financial advisor who can help him manage his finances so that he can try to make his debt payments regularly.

Thanks,
Caron.

For the full story see:
http://www.mortgagefit.com/bankruptcy/last-option.html
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