Re: To Declare or not to Declare

Posted by a few reasons (66.36.249.149) on December 09, 2003 at 17:52:45:

In Reply to: To Declare or not to Declare posted by In Deep DooDoo on December 09, 2003 at 17:18:09:

A Few Reasons for NOT wanting to declare Bankruptcy

It creates a Public Record making your finances an open book for all the world to see.

You have some rare heirloom assets (stamp collection, coin collection, book collection) that you don’t want to give up.

Some jobs, future security clearances etc. can decline if there is a bankruptcy record.

Applications for credit, insurance, jobs forever can ask if you ever declared bankruptcy.

For these and other reasons a person might want to fight it out with the creditors in court and make settlements here and there and just wait for the SOL to pass and 7 years for everything to fall off the credit reports.

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