Bankruptcy - anyone gone through it?

[CaliforniaChief]

Originally Posted by R8ers

Friend, restoring credit is not your first priority, there is no shame in renting until you are financially capable of being a home owner.

If you spend your life worrying about a FICA score, you are spending your life worrying about what to put on credit next..

I did it before, I was up to my ass once before, thought I deserved this or that just because I worked, then I realized I deserve nothing I couldn't pay for.

Now when I buy a car, it's cash, a boat it's cash or anything else I want... My credit score is falling like a rock because I have no debt and I am no longer important to them unless I am paying payments and debt...

I could care less about credit, it's good for one thing... To buy a house at a decent rate, other than that they can keep it.

Bank your money, save up 20-30k while u are in bankruptcy... when you are able to buy again, put the big payment down to avoid PMI then get a 15 yr note that is no more than 25% of youy NET household income per month

can I ask you what the % of your NET income the house payment is or was?

This is great feedback in that cash is so powerful now. Find a way to stash as much cash away as you can and any credit concerns will be alleviated if you're bringing all cash or mostly cash to the table.