Re: Bankrupcy Refinancing?????

Posted by Prune Man (65.161.188.11) on March 17, 2004 at 16:35:58:

In Reply to: Bankrupcy Refinancing????? posted by J Kelly on March 17, 2004 at 15:03:17:

I guess I should have used the term government-backed "Debt consolidation" instead of refinancing. Pretty much the same though.

As you pointed out, BK stays on your credit report 10 years. Sure, you can get credit after 2 years (maybe even 2 months), but you probably won't get the prime interest rates that you'll get if you repair your credit without BK.

Someone told me that BK in TX requires that you not open a credit line for the duration of the BK. I've never confirmed it though.

To recommend BK on the assumption that you can establish more credit again seems a little reckless. Don't you think? The purpose of BK is to help people dissolve debt, not to prepare them for gathering more!

"Fool me once. Shame on you."
"Fool me twice, Shame on me!"

Follow Ups:

• explain JK please?? catballou 03/17/04 (0)
• I can't figure out what in the world he is talking about J Kelly 03/17/04 (0)
• i dont understand what he means catballou 03/17/04 (1)
• QUESTION FOR CAT J Kelly 03/17/04 (1)
• Re: Bankrupcy Refinancing????? J Kelly 03/17/04 (2)

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