Declare bankrupt over $15k? Talk abt bad advice. Now we noe why
bankruptcy is on e rise in our state. No pride.
There're pages and pages of downsides and inconveniences being a
bankrupt. Declaring bankrupt should be e last resort when all other
realistic options are explored and exhausted. And from what catsr03
described, that's hardly e case.
Fyi, I'm not a bankruptcy lawyer by profession, hence will not be
able to advice on e proceedings and legal aspects of e matter. But
what I can share with u are ways where u may find reprieve.
1st and foremost, have u tried negotiating with ur creditors? Sit
down and have a good talk with em. Convince em ur commitment to pay
every cent u owe. Request for payments to be made in installments
over a period, which ur comfortable. Show ur plan, how u intend to
pay and where ur gonna get e money for installments. Creditors juz
wan their money back and would definitely choose to avoid e hassles
from legal proceedings if they can help it.
2ndly, seek help from ur family/relatives/frens. Swallow ur pride
and deal with it objectively. It's a good time to find out how u've
lived as a person, how loved (or unloved) u are. $15k is hardly a
big sum. Likewise, show ur plan and give em confidence that ur able
to pay em back. To further assure ur lenders, pen it in black and
white.
