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Updated over 5 years ago on . Most recent reply

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Glenn Earl Adkins Jr
  • Lender
  • Dundalk, MD
0
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Foreclosure Starting Over Advice

Glenn Earl Adkins Jr
  • Lender
  • Dundalk, MD
Posted

So I'm in the end process of foreclosure I believe and I'm not sure exactly what my plan should be after this. I have coworkers suggesting I file bankruptcy because I have a foreclosure on my record and that's what they did. However I'm not sure if I should file bankruptcy since I already have a foreclosure why make it worse? But I'm not sure, another option I've been wondering is if I should talk to a bankruptcy lawyer or something to see the procs and cons.

The problem is I just landed a decent job and I have been investing 1k every 2 weeks into investments like a Roth IRA , ETFs like VTI, and also threw a few smaller investments into things like betterment , Fundrise, wealth front ect.

My plan was I should just start trying to rebuild as soon as possible however I'm not sure if I should continue aggressively investing since I haven't filed bankruptcy, I'm just not sure if this will come back to bite me like where I have to forfeit all my investments because I didn't.

Does anyone have any specific advice or can point me in the right direction to find answers?

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Mark Fries
  • Contractor
  • Jacksonville, FL
2,199
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Mark Fries
  • Contractor
  • Jacksonville, FL
Replied

@Glenn Earl Adkins Jr

I wouldnt do not do the BK. Just keep investing as you are...you have a foreclosure and you cannot change that..just adapt to it and keep saving and investing.

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