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Re: Single mom finally ready to start on her own.


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Posted by Basketlady (208.157.116.253) on February 21, 2003 at 11:06:52:

In Reply to: Single mom finally ready to start on her own. posted by Beginner on February 19, 2003 at 20:06:21:

What state are you in? I live in Indiana, and it's only $600-700 to file bankruptcy. I think the fees you are being quoted are very high, but maybe that's normal for your state.

Don't be nervous. It really is not that bad, even though I know you would rather not have to do it. You will be surprised when you go to court for your hearing. There will be a room FULL of many, many other people there doing the exact same thing. It takes about 5-10 minutes and it is over. Very quick and painless.

By the way, I filed BK almost 3 years ago, and I bought a house with no trouble whatsoever. It was sub-prime loan, so the interest rate was 9% (a little high), but I only had to have 10% down and NO PMI, which was great. I only had 5% down, and the seller held the other 5% in a second mortgage.

Banruptcy, while I know you don't want to do it, is NOT the end of the world. You will get offers for credit cards almost immediately after filing, so be careful. Don't get caught in that trap.

Good luck to you!



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