Posted on: 12th Sep, 2011 09:41 pm
My credit cards have become unmanageable for quite sometime now and I have decided to file Chapter 7 now. My present credit score is 665. I have no late payments mentioned in my credit report till date. Is it possible to BK with no late payments on any of the accounts? I know it may come as a shock to my creditors. I just want to know whether or not it will be a good option for me.
hi melinda!
welcome to forums!
though you don't have late payments mentioned in your credit report, you may be able to file bankruptcy chapter 7. nevertheless, you should always remember that filing bankruptcy should always be your last option. in my opinion, before filing bankruptcy, it will be a good option to contact your creditors and negotiate with them to set up a payment plan in order to pay off the debts.
feel free to ask if you've further queries.
sussane
welcome to forums!
though you don't have late payments mentioned in your credit report, you may be able to file bankruptcy chapter 7. nevertheless, you should always remember that filing bankruptcy should always be your last option. in my opinion, before filing bankruptcy, it will be a good option to contact your creditors and negotiate with them to set up a payment plan in order to pay off the debts.
feel free to ask if you've further queries.
sussane
How much debt are we talking about here? My guess is that if you can manage to continue making on-time payments, there's still a way to dig yourself out without filing Chapter 7. Can you give us some more info.?