May 29
Im not sure if i have all of the information correct. But i know of someone that has about three small limit credit cards, and a cell phone bill that all equal to about 2500-3000 debt. As of right now its almost impossible for her to pay the minimum balance of the bills and they are threatening to take her to court. Its just overwhelming. Can she file for bankruptcy for credit cards? If not what will happen with her or what will they do.
No, you will not get bankruptcy approved for that small amount. The creditors will likely write off the debt and put a black mark on her credit report making it nearly impossible for her to ever obtain credit for a very long time.
Your school teachers lied to you when they said, “this will go on your permanent record.” Your credit companies told the truth when the said, “payment history will go on your permanent record.”