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Originally Posted by LuvNH
I never thought I would be doing this, but my attorney wants $600 per hour and $200 for phone call, so I am hoping someone can answer my query.
I have a granddaughter who is old enough to know better; however, she messed up big time. She has allowed herself and a boy friend to run up $20K in credit card debt on her cards. He has taken off and she cannot pay it off. She is talking bankruptcy.
Does anyone know what bankruptcy does to your life. Can you ever get a credit card again. Does it go on your employment info. Does it dog you forever.
I would prefer to do this through a pm rather than putting her private information on a chat line. Any information would be gratefully appreciated.
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If your Granddaughter were to listen to most of the advice you've been given so far, she'll end up in more trouble than she's in now.
Bankruptcy is not the end of the world. In some case, a credit score will go up when someone files BK. Re-building credit after a BK, is no where near as hard as it use to be. There are a zillion companies out there, who will give her a "secured credit card" and then transition that card into a straight credit card, within 6-12 months. That way, she can re-build her credit.
There are other ways out of her situation, but I'll get pummeled if I laid them out, publicly. Most lawyers with any familiarity with credit card debt, will be able to explain the reality of their debt collection practices and explain what motivates CC companies to make deals. Trust me, they don't make deals on current debt. They only negotiate, once they become convinced it's cheaper to settle, than trying to collect.
You don't need a super star lawyer to file a simple, small BK like $20,000. She should be able to find someone that will handle her case for $2000-$2500. In every city and town, there are lawyers who specialize in credit card and other debts. You can get their names, if you show up to "Motion Session" and look at the docket. 1 or 2 lawyers will probably be handling 20-25 clients, all of whom are owed money. That's the kind of lawyer it's worth speaking to, as long as they don't have a conflict. Usually, if you ask in the Clerk's office of the local courthouse, you'll likely be pointed in the right direction.