Originally Posted by LIT LOVE

There is likely no reason for you to file bankruptcy. Your SSD monthly income and backpay can't be garnished by creditors and/or collection agencies to whom you have old debts with even if they go to court and receive a judgement against you. The only exception is if you committed fraud--and then bankruptcy wouldn't protect you either!

Bad debts stay on your credit reports 7 years starting when you first became delinquent and made no more payments. If you make even a $1 payment, this restarts the clock.

A bankruptcy will stay on your credit report for 10 years, with the starting date beginning when you file.

So, let's say you have a credit card bill you stopped paying when you became disabled in January of 2007, it will stop hurting your credit in January of 2014. If you file for bankruptcy next month, that same debt will hurt your credit until 2021!

Utilize the free information in the forums at the link below:

http://creditboards.com/forums/

What are you trying to accomplish by filing for bankruptcy?