Get a copy of your credit report for FREE.
By the fall of 2005 I had gone 6 months without paying Bank of America or Citibank. I thought my credit would be a disaster. My credit report showed me only being one month behind. That was another turning point for me – things weren’t as bad as I had thought. If you haven’t looked at your credit report lately then do so. It may not be as lowly as you’d think. Go to: annualcreditreport.com. This is a free service unlike freecreditreport.com.
The website will ask you personal information. You will have to answer some questions about your finances that only you will know the answer to. After viewing your credit report it can be printed right off the website.
When considering bankruptcy consider this: Bankruptcy isn’t easy and often isn’t fast. Consumers fed up with the headaches of paying their creditors may find new ailments in standing before a judge explaining why they can’t meet their financial obligations. This experience can prove equally stressful and knowingly walking away with thousands of dollars that isn’t yours, can leave you feeling like a bad person. The point I’m making is that it could negatively change the way you feel about yourself for years ahead. Whereas struggling and emerging from debt prison victorious can impact one’s life positively both emotionally and financially.
In the end, if you can make a comeback and pay off your debts, your credit report will reflect and appreciate this accomplishment. Afterwards, you can walk into a bank with your head up and request the best of interest rates.
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