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Originally Posted by maken  not only that, he'll be unable to get a mortgage, loans or any form of borrowing for several years. |
Not true - the interest rates will be higher, though. I have a couple of friends who filed bankruptcy - in both cases, they were flooded with offers for loans, etc. immediately afterward. Bankruptcy doesn't have *all* of the negative stigma it used to.
There are consumer agencies that are non-profit - we have the Consumer Credit Counseling Agency here, through the United Way, and they'll help you get lower payments, lower interest rates, etc. and... can't remember the word... put all your debt together, you just make one payment to them, and they disburse it. It keeps people from calling you. There are also some that legally may be nonprofit, but they still make a ton of money by asking people they're helping for "donations". Something shifty about that.