Personal Finance

Well I can tell you I have friends, family and parents that I work with talk to me at least weekly about their bills. Their are many times bankruptcy comes up. I try very hard to help people to see a better path to take. It takes you down a bad road. It will follow you for many years and damage your chances at things for as long. Even after you think your debt is all cleaned up from the chapter 7 bankruptcy you find things on your credit report. They stay there for several years. The crediter or the courts may not have included it or they on your records in big letters BANKRUPTCY 1995. So even though it have been 11 years and you are feeling pretty good about your personal finances your credit report says otherwise.

I advise my friends about bugeting with in your means, within your income. Do not budget every penny you have. You never know when something will come up or when your check may fall short. May sure to pay your daycare, your rent, your untilies, buy your food and get your diapers and other needs for your children. The cel phone is not a need, cable is not a need,etc. I also suggest CCCS ( Consumer Credit Counseling Services) and other proffessional services to assist with families.

When CCCS can not help you and there is no other way to go I have seen couples file Chapter 13. You do actually pay back your bill collector though the courts. They will set this up with a "trustee". The money is taken right out of your paycheck and mailed to the trustee and then sent out to the appropriate persons. This will stay on your credit record but you know you have paid

those bills and it gives you a different sense

of self.

I suggested to my girfriend who is in the spot right now that we try CCCS first and we will down load the paperwork off of the internet first I am happy to say. She said she would give it a shot before bankruptcy. She said the main reason she just wanted to go to court was she was so worn out with fighting with the bill collecters. She will have some one to help her now, she will not be alone. She kept this from many of her us, from many of her friends, because she was ashamed. I told her , we are with her now!