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Thread: Bankruptcy / credit Report

  1. #1
    Please advise me as to how these issues may affect my application for USC next year.I bought 2 homes and vehicles,however I am no longer able to support the payments,including credit card debt etc....I was considering bankruptcy as a final option.My credit went from the 700's down to the 500's.Thank you.

  2. #2
    Just what America doesn't need...importing irresponsible people and then giving them citizenship!!

  3. #3
    Your credit has nothing to do with your immigration.

    But to keep it in a good shape is good for you.

  4. #4
    Hi safariland1
    As naturebeauty said - your credit has nothing to do with your Immigration application. They don't look at your credit nor do they even ask about it.

    However if you cannot make monthly payments you should resolve your debt one way or the other - meaning: work out a plan with creditors, they often will lower your minimum monthly payments. Don't ever let your accounts to be "charged off" - this look really bad on you. And if you have no other option - file bankruptcy. It will stay on your credit for 10 years. For the first 2 years you will not be able to buy a house. There are other consequences but less derogatory.


  5. #5
    So sorry to hear that you overextended yourself.

    I do not suggest banckruptcy. you will regret. if you do decide that route, make sure you have an apartment or housing in place beforehand, as most likely your credit will not let you get a decent place to live.

    Im sure you have tried selling and are getting stuck, but you may try renting your house out as a place that rents rooms. 3 bedroom house renting 3 rooms at $500 each will bring you $1500 in payments to help you thru this period where you dont lose house. the other houserent out 2 rooms and you live in the other.

    credit cards make minin payments just to keep credit good until circumstances change financially for u.

    keep in mind if any of these debts get charged off that you will have to claim the debt on your income tax as the company will send you a 1099C. and now if you owe a lot of money to irs because of this, and its not paid, this WILL affect your citizenship, as all income taxes should be paid.

    good luck and dont make haste in decision making

  6. #6
    Thanks for the kind advice,it's awful but i have to get through it.i will try everything to get this taken care of and meet my obligations.Bless you.

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