Is it worth going bankrupt?
February 24th, 2006 by Questions
I am half way through a debt management plan with a Credit Counselling service. I have approx $9,000 outstanding which at the current payments will be be paid in 25 months. I am paying 100% of the outstanding debts, without any further interest being applied. Would bankruptcy/proposal be of any benefit to me with regards future credit applications, time it takes to start acquiring credit again, etc.
I have a combined household income of $63,000 and no assets of any value.
Thank you in advance.