How I Got Into Debt
I had a repossession that was auctioned off. This left me with an unpaid balance of over 10 thousand dollars while I was in college. I had to file bankruptcy to relieve myself of this financial burden.
How I Decided to File Bankruptcy
I talked to an attorney about my options and Chapter 7 bankruptcy was the most feasible for me. This alleviated me of my debt load so I could get back on track, financially. Family and friends advised against it but did not offer other feasible solutions. I weighed the pros and the cons and decided that Chapter 7 was the right choice for me at the time.
What I'd Do Differently
- WOULD NOT have bought a new vehicle while still in college
- WOULD NOT have included all credit card accounts in bankruptcy filing
- WOULD have maintained positive payment history with all credit accounts in order to speed credit recovery
Alternatives I Considered
There were no other alternatives for my specific situation.
What Life After Bankruptcy Was Like
It has been difficult to get good interest rates but I now have the peace of mind of knowing that I am not responsible for overwhelming financial burdens from the past. Credit repair is a must!
How I Restored My Credit
I am in the process of paying off all collections in order to fully restore my credit profile.
