Bankrupcy

After my divorce four years ago I have debts that have ruined my credit. I have a foreclosure on my report. The property was foreclosed on two years ago. I also have a $6000.00 dollar judgement which I am paying on. I have been making payments on the $6000.00 but because it shows on my credit report I can't even rent an apartment of get a credit card. Would bankrupcy help me or should I just wait it out. I have no current debts. I am also engaged and he has good credit. How would this affect us?

My advice would be to waite it out and continue paying off the judgement. If you file bankruptcy, this will not improve your credit. In fact, it will effect your credit for the next 7-10 years.

$6,000.00 is not that much money. If you got a part time job for $10.00 an hour at 20 hours a week you could pay the judgement off in about 9 months.

Also, perhaps you could have your fiance obtain a personal loan with his good credit to payoff the judgement. The judgement likely carries interest of around 9%. The interest on the personal loan would probably be more particularly if it's unsecured, but you'd be on the way to fixing your credit problems. If your fianc'e owns a home with equity, you'd be able to obtain a loan where interest is likely tax deductible.

Do not file bankruptcy.