Can credit repair save me from bankruptcy?
We have been conditioned to take responsibility for what we have done. Have you ever heard the old adage, “You made your bed now sleep in it?” How about the Puritan work ethic of hard work and thrift being the path to success? Or lessons from your childhood like save for a rainy day? It should be no surprise to you, but the rules have changed. The Puritans did not have credit cards. They never heard: “don’t leave home without it,” or “what’s in your wallet?”
What does all this add up to? You have been taught over the years by parents, churches, even the credit card industry that bankruptcy is bad. That it is scary to even mention the word. That it is an easy way out. That hard work is the answer. So you will do anything to keep everyone happy and not file for bankruptcy.
One alternative that has recently been gaining speed is to try fixing your credit file. I have a friend who had a credit repair business. His motto was, “Just because you owe it doesn’t mean they can show it.” He made a lot of money scamming people who just want to fix their credit, not file for bankruptcy. If you could just make one more purchase over time everything will change, right?
What does an increased credit score mean? For most people it increases their ability to take on more debt. If you already have bill trouble do you really think more bills is the answer?
When a negative item is removed from your credit file you still owe the debt. All removal means is that it is no longer reported. A better credit score will not stop the collection calls, lawsuits, bank attachments, and garnishments. It doesn’t give you a restful night’s sleep. Nor, does it make you look forward to answering the phone, or opening the mail. Chapter 7 can do that. More debt will only raise your monthly bills and stress. Is that what you need?
It is a simple fact that if you want to fix your credit there is no better time than right after filing a chapter 7. That way correcting your credit will bring a lasting result, and add to a quality debt free life.
Related posts:
