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Eleanor
After going bankrupt, it is hard, if not impossible to get a loan for a while. Then when you can it will be real high interest. But if you owe a bunch on credit cards, and can only make the minimum payments, which doesn’t get you anywhere. You might be better off to do it. As far as the house, if you get any large lump sum payments within 6 months of going bankrupt, you have to pay quite a bit of it to the court. So I wouldn’t sell your house for a while.
Actually, the initial visit with a bankruptcy lawyer is free. They will explain it better, and give honest advice.
What we did was … my wife owed a bunch on her cards, and medical. But I didn’t. So we just filed on her, and it didn’t affect me. So I was still able to get car loans and stuff.
Lewis
here are some credit card debt answer: