I don't know if I am posting this in the right forum but maybe someone can help me.
I am a single mother raising my 4 year old daughter alone. I have a decent job making $12/hr, but I am not satisfied. I really want to go back to school and get my nursing license. In order to do this I would have to quit work and I have quite a few bills. I am considering fileing bankrupcy and going for it. If I do this am I going to be completely destroyed? When I finish school which would take me at least two years would I be able to finance anything?
Please help?

Hi lostnky,
I chose bankruptcy over two years ago. You won't be ruined but life will be more difficult. You may still get credit but don't hope for the best rates. In fact, count on steep rates and many requests for co-signers. I suggest you apply for an education loan now while your credit is decent and try to cover your bills as much as possible before hand. Bankruptcy should never be considered an option.
But don't let this answer turn you off of your dreams and goals. There is a way to get what you want. Just search for it. I admire a person who perseveres to get the best for themselves and their children. Good luck.

I filed and let me tell you it's been a huge relief. I was constantly robbing Peter to pay Paul!! I admit I made the debt but I was not alone at the time doing so and the ex didn't help out and of course, dummy me had it all in my name!!I did have to wait two years to really do anything so I saved and saved and bought a house. I work for a mortgage company so I was able to get a rate of 4%. You won't be ruined and I felt the same way. I look at credit reports everyday and see it them alot. It's been about 3 years and my credit scores have improved drastically. I am now the high 600's instead of the low 500's.

Is it possiable maybe work to pay off these bills then quit to go to school?

I claimed bankruptcy and though it was a relief in some ways... it is a big stress in others. I was claimed because I was told that I probably would not be accepted for the student loan based on the credit that I had at the time my ex and I split.

Now I have to see if I can get a loan... I claimed 2 years ago, however, student loans are not based on the bankruptcy, other things are considered based on credit report (ex: payment patterns, etc). If you can show that you are trying to pay your bills do so... rather than claiming. Trust me if I would have known this before I would have done it this way.

PS you can make a payment arrangement through a bankruptcy organization where you dont have to claim bankruptcy and they can help you pay all your bills without adding more interest onto the bills. Ask your bankruptcy trustee about it what options they offer.

Hope this helps


Krystal

Student loans in the US are not withheld because of bankruptcy. I filed for bankruptcy and received student loans while in the process. As long as you are not in default of tax payments you should be fine.