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Should I pay off my friend's debt before filing bankruptcy?

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Posts: 1
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I'm planning to file bankruptcy. I have $15000 in my bank. I will pay $10000 to my best friend and clear a portion of my debt. The rest will be cleared through bankruptcy. I owe $48,000 in total. Am I thinking in the right direction?

Instead of filing bankruptcy, try to settle your debts.

Do you have assets that can be liquidated to discharge your debts?

Sub: #1 posted on Mon, 11/13/2017 - 15:44

(Posts: 3937 | Credits: 398.71)

Bankruptcy will damage your credit score. It should be the last resort. Do you approach your creditor for settlement?

Sub: #2 posted on Mon, 11/13/2017 - 17:37

sanderspatricia29 sanderspatricia29

(Posts: 683 | Credits: 71.47)

Settling your debts can be a better idea. At least try this option if you have a steady income.

Sub: #3 posted on Thu, 11/16/2017 - 19:01

Mabelle Page Mabelle Page

(Posts: 161 | Credits: 15.88)

The best option is to go for a debt settlement program.

Sub: #4 posted on Mon, 11/20/2017 - 11:08

Barbara Delinsky Barbara Delinsky

(Posts: 302 | Credits: 30.07)

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