Hi my name is Tanecka I would like to know If going through a Credit Counseling Service looks bad on credit I was told that If I did that and tried to get a Loan etc... that I would be denied I am trying to buy a House with in 2 years, I was told that I should file bankruptcy but I just don't think that I should. Please can you give me advice on this.
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on filing a bk
consult a friend
a cpa or budget counselor at your local bank
someone you know who filed a bk but has ome out of it
credit counseling will show up for 7 years after you make you last payment
what if it takes you 2 years to pay it off
then for 9 years it will show couseling
both a bk and counseling look bad on ones report.
bk's are usually considerd less a of potantial risk as one cannot file but once every 7 years
so re establish credit quickly or try to leave a couple active reported to a bureau accounts open if possible
same with counseling. Leavs on or two ouf of counseling and pay them religously
Monday, January 07, 2008
Should I file bankruptcy or use credit counseling
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1 comment:
the bankruptcy laws changed in october 2005. you now have to attend a credit counseling course as a requirement for filing bankruptcy. the comment about not being able to file but once every seven years in incorrect. the new legislation laws make it harder to file but you refile within months of being discharged or dismissed unless you were discharged with prejudice.
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