I know someone who declared bankfruptcy but within a matter of three years got another bank loan to purchase a home. Is that how it works? A certain amount of time goes by and the bankruptcy fades away and you are credit-worthy? How many times would that work before you would be credit non-grata? Never had to declare bankruptcy. Never got close. Never overspent on credit cards or bit off more than I could chew. It was always much less just in case I lost my teeth. I don't understand how people can get thousands of dollars into debt that they cannot ever afford to repay. Can you? Of course if it is medical bills that is a horse of a different color. That can wipe out people for years financially. I expect student loan debt can be onerous as well. But sillybilly credit card purchases because I WANT IT AND I WANT IT NOW? That is seriously sick.
