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Credit score...520 :(?

Thanks to an ex finace's deceit, my credit is shot. I average 40k/yr, but need a car and furniture(among other things) Bascially starting completely over. Consulted attorney and he said wait until next year to file bancruptcy. Its been 6 months sleeping on the floor, and paying regular bills on time plus some back bills. I need a car, but cant get one because of credit. Should I just file now and get it over with?

Asked By: Yuratard Imnot - 9/30/2007
Best Answer - Chosen by Asker
There is no reason to wait for that long to file for BK. If anything waiting will hurt you more! File BK, get it discharged and start your process all over again. Even if you score in the low 500's, if you have a job and a discharged BK, you will get financed through some company for a vehicle. you may also want... More
Answered By: strike13088 - 9/30/2007
Additional Answers (8)
Get another lawyer's advise before you do anything drastic. Your score isn't that bad, so I am unclear why you are unable to get minimal credit. Or are you just waiting on the bankruptcy..first, then start living your life. It seems like a tough one. good luck.
Answered By: jaksie3 - 9/30/2007
 
If you go to a car dealer who does their own financing "buy here pay here" you will have a better chance of explaining your situation and getting a car. Filing bankruptcy isn't going to help your credit and it will stay with you for at least 7 years.
Answered By: Stop Ranting - 9/30/2007
 
You CAN get a car with lousy credit -- and a GOOD car, too. I've had lousy credit for years and last year I bought a 2006 Ford Escape from a major dealership. My payments are pretty high, but I had NO trouble getting financing.
Answered By: MizBadcrumble - 9/30/2007
 
Your credit score is salvageable. I am guessing you could pay it off before your BK would come off your credit report. The score is low either because of missed payments (on time payments for a year will improve it) or because you are overextended (in which case close the accounts but pay themoff). Either way, you will... More
Answered By: ArLorax - 9/30/2007
 
first read thru creditinfocenter.com see what can be removed see what you can fight for free yourself see who you can sue then decide about bankruptcy
Answered By: Ask M - 9/30/2007
 
i would after your bankrupcy goes thru you get better credit than ever i heard.but be careful
Answered By: virginia c - 9/30/2007
 
If you make $40K a year, after 6 months you should EASILY have been able to set aside a couple thousand to buy a reasonable used car for cash, then it wouldn't be an issue. Fire your attorney. Any attorney advising bankruptcy is just after a share of your assets.
Answered By: Thin Kaboudit - 9/30/2007
 
Paying off your creditors on time will help raise your score in time. Filing bankruptcy will kill that though plus bankruptcy will stay on your record for at least 7 years. My parents had filed when I was 13 and it took them at least 5 years before they could afford to replace their run-down vehicles, much less afford... More
Answered By: shyvicki - 9/30/2007
 
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