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complicated decision

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Posted by T ( on September 08, 2002 at 16:47:18:

Hello.I am a new poster so bare with me please.Right now I have around $20,000 in bad debt.MOstly open accounts other than 1 finance company loan.They are seaking a judgement against me right now.Here's the scenario .I got all of my credit(cards,loans ,etc.)between late 1994 and early 1995.Lost steady employment and basically lived off my cards.Not a good idea ,I know ,but I had to eat.I finally got so far behind that I just gave up.I havent spoken to any of my creditors in at least 5 years and havent made payments on them in about 7.I'm not even sure of the exact amount I owe them anymore.The ohio SOL is 6 years on open accounts and 15 on written contracts.I checked my Equifax credit report ,and all is off of it except for a $94 utility bill I didnt even know I had.I have a decent job now but I am still just barely getting by on my necessary expenses.I am raising my 2 children and fiance who is not currently working.I cannot afford to pay the judgement if ruled against me.I am considering a chapter 7.SO here's my questions:
1.If my bad debt s are off of my credit report now ,can they be put back on if the debts are sold to another CA?
2.I have been told that it's possible to get credit the day you get your discharge after BK at close to prime rates.Sounds nuts to me(opinions?)
3.Should I consider even filing BK since most of my debts arent on my report currently?
4.If one CRA doesnt show my bad debts,and another does,do the others have to remove them ?
I'm sure I have more ??? but I'm so scatter brained from all this right now that I can hardly think.Any advice,help,opinions would be GREATLY appreciated.
Just a note ,maybe there should be a very large disclaimer at the top of the board that states that any thing written in here should be considered friendly advice ONLY ,not legal counseling ,or something to that effect.I've noticed that some people take some advice a little too definate.I just think it's extremely comforting getting the kind of advice and reassurance this board provides for ABSOLUTELY FREE.
Thanks a million

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