While it’s true that bankruptcy is an option

While it’s true that bankruptcy is an option. it does not fix the underlying problem of spending control. If you’re in the habit of spending more than you have, that habit needs to change or you’ll find yourself in the same position later with few to no options because of your bankruptcy. It does “hang around” for at least 7-10 years.

I wish that homestead did, but it doesn’t. Homesteading just helps out on your taxes and such. Everyone has given me alot to think about. My cousin did a plan that a finanical guy on the radio talked about. You keep your budgeted money in envelopes. One for food, gas, medical, gas, and such. I think I will try that, after I see what we spend money on. Wish me luck all and THANKS SOOO MUCH for all the advice.

My cousin is a lender and he has given loans to people out of bankruptcy less than 3 months. He said they prefer a bankruptcy over a low Fico score for a few reasons. One of them being, they realize you can’t file again any time soon. And many times people have long work historys which are very beneficial.

There are many people who were able to reestablish credit right away. But, I agree if you don’t get control of the symptom it will happen again..thinking about a friend who is now out of her 10th yr of a previous bankruptcy and ready to file again…WOW…