I have a 9000 dollar debt from being baker acted back in 2013. Only 1450 shows up on my credit report and it’s too late to get it taken off as charity. It effects my credit score. I don’t understand bankruptcy other than its a bad thing. I technically have about 10000 in back social security money but I was going to use that for a house or car later on. Should I declare bankruptcy?
No, it will cost you more to file bankruptcy than settle that debt and it will hurt your credit more. You need a lawyer to file bankruptcy.
You can talk to a credit consolodation agency and work out a plan to pay a portion of the debt back over time, without having to declare bankruptcy.
A couple friends filed bankruptcy years back. They both had lawyers, but I noticed when we got to the judge, several parties were there without lawyers.