Is it better to use a credit counselor or bankruptcy? 2 Answers as of September 17, 2010

Like so many, I am badly hurting right now. My financial situation is in a mess. I was told that it will be easier to build up my credit if I file for bankruptcy instead of using a credit counselor. Is this true?

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The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
Yes, that can be true. Since filing bankruptcy gives you a definite "fresh start" point it is easier to show improvement in your credit from that point as opposed to having continuous late charges or judgments on your record from multiple creditors.
Answer Applies to: California
Replied: 9/17/2010
Ariano & Reppucci
Ariano & Reppucci | Chris Ariano
That depends on what Chapter of bankruptcy you are filing under and your individual situation. Bankruptcy can be better than credit counseling in certain situations. To discuss further, please contact us.
Answer Applies to: Arizona
Replied: 9/16/2010
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