What is the consequence of filing bankruptcy protection to avoid harassment from creditors?

in Bankruptcy

sx24 asked:

believe it or not, i just cannot find any job. I have hunted for job a lot but there is no luck. Now i’m being frustrated by creditors who call 40 times a day. So to get rid of such harassment, i decided to file bankruptcy protection.

What will be the consequence of filing bankruptcy?

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4 comments

abc on April 19, 2009 at 5:31 am

Every bankruptcy thats filed results in further economic deterioration. Your bankruptcy is somebody’s loss — most likely banks and credit card companies. That is reflected in the stock market when the stocks of these banks sink. And then ofcourse more are laid off as a result.

When millions like you are doing it at same time, the economy is sure to sink further.
the future on April 21, 2009 at 7:39 am

bad idea. better to change phones etc.
x x on April 23, 2009 at 1:10 pm

Good luck. You might want to wait till the last minute. Maybe just before you do get a job, then you have a chance to rebuild your life and finances. If you do it now and are still falling further behind and still no job you will never get out of the hole and bankruptcy will not be an option
Have no shame as long as your trying.
As to abc:
The CEO of one of the wall street co. got 100 million dollars for 3 weeks of “work”. That is stealing!
tonalc2 on April 24, 2009 at 10:46 pm

Complete destruction of your credit rating.

You don’t need to file to stop the harassing calls. You have to write them a letter (you can’t do it over the phone) demanding that they stop calling you. They have to comply, or be subject to big fines.