what are the worst side effects of bankruptcy, and what is the best way to make yourself bankrupt? ?

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do it yourself bankruptcy
johnus83 asked:


I am a licensee, if i so bankrupt would i lose my license? also i heard i would never be able to be my own boss, is this true?

Categorized under: do it yourself chapter 7 bankruptcy.
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2 Responses to “what are the worst side effects of bankruptcy, and what is the best way to make yourself bankrupt? ?”

  1. David M says:
    October 3, 2009 at 2:11 pm

    No credit for you for the next 7-10 years. There is no “best” way to make yourself bankrupt. If it was found out that you did so intentionally not only would your debt not be erased, but you could be convicted of fraud, jail time for you. Very bad idea.

  2. crazyjester9 says:
    October 6, 2009 at 3:48 am

    David M doesn’t know what he’s talking about. There are PLENTY of people who have declared bankruptcy and had decent credit scores within 1-2 years. Obviously, they would have to get credit to rebuild that credit score right?

    LifeAfterBankruptcy.com had some great free newsletters on recovering from BK, but their site is currently being worked on.