Bad Credit Agency

Is it better to go to a credit repair agency or just claim bankruptcy and which is cheaper?

Public Comments

1. its cheaper to go bunkrupt but it wont help you for the futer
2. If the amounts may become manageable. I'd say neither. It took me awhile, but I started repairing my credit myself. Constantly monitoring my report and paying some of the bills I owed. Just as well I started a few new accounts and I keep them in perfect standing. My credit score rose over 75 points in the past year and I still have a judgement and a repo on it. Also after 7 years some of those marks will fall off anyway. Why extend them for 7 to 10 more years from the date you file for one of those options. That'd be 2015 from this year. Cost is no more than you already owed. Consolidation may leave a bad mark on your credit statement. Bankruptcy...no explanation needed. Talk to a lawyer about your bankruptcy options if that's what you think you need.
3. Credit repair agencies can help, but it does go on your credit record. If you have gotten too far in debt, you may not be able to pay the payments the repair agency set up for you. Bankruptcy can cost 1000.00 or more dollars, and it stays on your record for 10 years not 7, and it also costs alot afterwards, because you are high risk after the bk, so your pay alot most in intrest. I had to claim bk 4 years ago, and it was a difficult decision, not to be taken lightly. Alot changed, but I have taken great pains to improve my credit since. Talk to your lawyer and see what options you have. Try to avoid bankruptcy if you can.
4. Bk is cheaper but it doesn't help ur credit score. If that is what you are lookin g for? If so Try get a credit report fr the 3main agencies & see everyone you have to pay make arrangements w/them to pay them off. If you have a judgment dont give them your bank or your job cause they might want to go after your wages no matter how nice they sound. I f you do make arrangement w/ with them keep your promises to pay. also if at all possible dont rewrite a new contract. I'm trying to save you some money they will add more finance charges. Good luck
5. Both will torpedo your credit with significant harm, but bankruptcy will protect you from creditors coming after you later for amounts excluded to settle the debt. That's a short, simple answer from a non-lawyer - I'm sure that there is a lot more involved. Read up on it.
6. Hi, I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here: http://redirx.com/?0g4c