98crewcab Posted January 24, 2010 Report Share Posted January 24, 2010 Cant say that I agree with the "BK is no good" crowd tonight. Filed 3 years ago, with $25K of debt, home foreclosure, and repo'ed truck. all due to bad end of previous marriage. long story. but after the BK, re established credit with home depot card that I have for my business. pay it off after every job and credit is in the 700's again already. We got prequalified for our home loan and even with a BK, still got approved and with a pretty decent interest. Just be prepared to make some life changes to always be positive on your bills. BK is a one time get out of jail free card. good luck homie 06 2500hd, 6.0L, 4l80e, 4wd, (muah work truck) 7" BDS HC lift kit (5) 37x13.5R18 Toyo Open Country M/Ts (5) 18x10 Moto Metal MO962 tablet in lieu of deck blue tooth interconnect to soundstream eq (for volume control and bass control) 4 Alpine type r 10's 6 cubes net, 80sqin's port, tuned to 33hz 2 brutus brx5000.5's 2 pairs 3" polk audio for a pillars 4 pairs polk audio 6.5 comps 1 pair 8" polk audio for mids 2 xspower d3400 batteries.....learning alot from meade and his circle of some of the baddest installers ive seen- thanks guys, for not being so cocky and posting the way it should be done!P.S. Thanks Steve....for the demo!!!! loud as fauk! Link to comment Share on other sites More sharing options...
tlee2 Posted January 24, 2010 Report Share Posted January 24, 2010 act like you just took out a $15,000 loan to buy your teenage kid a car cause they wanted it but you kno you couldnt afford but couldnt say no and take some out every month just like its going for a car payment. might sound dumb but you could have tht gone in 3 years or sooner 6 Sundown X 15s 2 Sundown NS1 V2s C Pillar 4th order Bagged Suburban on 24s http://youtube.com/tlee333 Link to comment Share on other sites More sharing options...
sully Posted January 24, 2010 Report Share Posted January 24, 2010 If it is credit card debt then I would recommend contacting them and negotiating lower interest rates. People are defaulting on debts right now and they understand that sometimes you need some help. It is in their best interest to negotiate terms rather than forcing you into bankruptcy. They will at least get the principle back with some interest if they lower your rate rather than getting pennies on the dollar if you declare BK. Most for profit credit relief agencies will do this for you and charge you outrageous fees, you can do it by yourself if you have the patience, it will not happen overnight but you need to stay current on your payments to the best of your ability to show that your are trying to keep up your end of the original agreement. I've been there before, at one point I had almost 20k worth of credit card debt and it took years to catch up but there is an end though it may not feel like it right now. 2003 Ford F-150 Reg Cab layin body on 26's 2003 Tahoe 3/5 drop on 26's with a 408cid Supercharged engine. 2011 Camaro 2SS 2005 VW GTI Stage II ECU, CAI, 3" turbo back exhaust, FMIC, lowered 2" on some plastidipped 18's 2003 Hayabusa lowered, stretched, cams, nitrous and custom paint Link to comment Share on other sites More sharing options...
EricR Posted January 24, 2010 Report Share Posted January 24, 2010 Anyone here declare bankruptcy recently? Looking to see what are some of my first steps I need to consider here? I own 15,000$ and just cant seem to catch up EVER. I just paid chase bank a 1500$ payment (what was left over from my massive paycheck from working over the holidays) and still I own 11K with them, just seems like e end will not come soon, or for that matter even later! Really thinking this is the only way I can get ahead but suffer from SHIT ASS CREDIT for 7 years....... Never in my life did I ever have bad credit, I bought my investment house in 06 with a 800+score, and I've always worked HARD, but the last 2 years turned me WAY UPSIDE DOWN, and I am not embarrest to admit it either, I know im not alone here. That 1500$ payment to chase, WAS going to go to AQ for my 4 18"s but really....................if I did that then my head would be way up my ass.......... you own 15,000$ ? i don't get it i was thinking leave the 12 sitting in the box in the hole and duck tape from the bottom of the sub to the bottom of the baffle so the sub doesnt free air. would that work? Link to comment Share on other sites More sharing options...
slugdub Posted January 24, 2010 Report Share Posted January 24, 2010 In my opinion, try talking to a debt consolidation agency first. You really dont want to ruin your credit, it will mess you up in the long run, not being able to get credit for anything. If the debt consolidation doesnt help, then you can look at other options. Debt consolidation is not a bad recommendation for somebody who is about to declare bankruptcy but only then. It is like going banko itself because the truth is many many banks and lenders (mostly in regards to mortgages and other serious financing) will blacklist people who show consolidation on their credit report. What you want to do is find a consolidation agency that doesn't report it. I don't know why they do that. Wells Fargo for example won't give you the time of day for a set amount of years after consolidation shows on even just 1 trade. Link to comment Share on other sites More sharing options...
newls1 Posted January 24, 2010 Author Report Share Posted January 24, 2010 Debt consolidation is not a bad recommendation for somebody who is about to declare bankruptcy but only then. It is like going banko itself because the truth is many many banks and lenders (mostly in regards to mortgages and other serious financing) will blacklist people who show consolidation on their credit report.What you want to do is find a consolidation agency that doesn't report it. I don't know why they do that. Wells Fargo for example won't give you the time of day for a set amount of years after consolidation shows on even just 1 trade. Thanks for the info....... I will NOT be declaring bankruptcy, but I will be doing some sort of consolidation for sure. This thread can really be closed, as I appreciate all the feedback, and some of the great ideas. I love my staffie So anti FACEBOOK it isn't even funny Link to comment Share on other sites More sharing options...
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