Last year I published a few posts here on our blog about my daughter’s financial problems and how those problems lead to her having to file for bankruptcy. If you all recall, she got into this problem not because she shopped too much, but because our little grand daughter had some health issues and had a few surgeries. Those medical costs were extremely high and left my daughter in debt.
My friend lives in California and the economy out there is terrible right now and she had to go online to find some oakland bankruptcy lawyers to see if any of them could help her. I was telling my cousin Joan that while it’s a difficult decision to make, sometimes it is the only choice/decision that you have.
I spent some time with Joan over the weekend and shared with her my daughter’s story and how filing for her bankruptcy was the right thing to do. Someone who was 25 at the time shouldn’t be thousands of dollars in debt from uncovered medical bills. Something is definitely wrong with our healthcare system here in America.
It took my daughter about 2 years to recover from her bankruptcy with banks and stores turning her down constantly for new lines of credit. With that said, they have now started giving her small lines of credit which is helping to repair her credit score. She pays every bill on-time and most of the time she pays more than what is due.
We are hoping that over the next couple of years she will have her credit repaired and hopefully this terrible ordeal will be behind her. Like I said, her financial problems were not from her living a “high” lifestyle but from her child’s medical issues at the time.
We are really proud of our daughter and she has shown us that she is a strong young woman who can get through everything…the good and the bad!
Have any of you every considered filing for bankruptcy or have any of you filed for it? How long after your bankruptcy did it take for your credit score to be repaired?