Quote:
Originally Posted by Crompsin
No, seriously... would you stay with somebody who had a shit-tacular credit rating and a substantial debt load that they have failed to address?
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It depends on the big picture. There is a difference between failing to address it and having not addressed it yet. A snapshot can be deceiving. It all depends on the long-term plan.
It depends on their current view and habits.
If you were to look at me as a snapshot, I'd be far worse than the individual in your OP (with exception to the bankruptcy consideration). I'd like to think I'm not damaged goods (yet).
I don't think bankruptcy is a good option considering the position they're in isn't that bad, and bankruptcy has a lot of baggage. Any financial advisor worth their weight would say so as well. Twenty thousand dollars isn't enough debt to call a bankruptcy...esp. if income isn't too shabby. What they need is a
plan.