Re: 25,000 in credit card debt

Posted by Prune Man (65.161.188.11) on August 23, 2004 at 11:31:01:

In Reply to: 25,000 in credit card debt posted by dave mcleod on August 23, 2004 at 09:24:57:

If it's been 10 years you can file BK again.

$25,000 doesn't seem like a lot of money to be filing BK for, but I have friends who have filed for less than that.

Depending on your personal situation, what you own, and what State you're in, you might be better off just dealing with the debt (pay it, or don't). The worst that happens is you get sued and lose, but some states protect your house, car, and basic possessions from judgements.

One note: A few years ago when I was out of work, I spent almost a year burning up my savings trying to keep my house, car, and credit cards paid. In the end, I had to quit paying the cards to save my house and now my credit is trashed. In hindsite, I could have saved Thousands of $$ if I had quit paying the Credit cards earlier.

It sounds like your last BK was successful, so ask yourself if it's worth you doing it again.

Good luck!

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