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Bankruptcy may destroy your credit. So why would you want to file for bankruptcy if you’re trying to repair your credit?

For starters, bankruptcy may wipe out debts that have become unmanageable. These debts will drag your credit score down with each missed payment and inevitably destroy your credit. If you’re faced with debts that you can no longer pay you may not have any choice but to file for bankruptcy.

If you qualify, bankruptcy can wipe out many of your debts and “clean the slate” so you can regain control of your finances. Bankruptcy is more a tool of debt relief than a tool of credit repair.

You need to carefully weigh the pros and cons before filing for bankruptcy. Are your debts going to be so unmanageable that they’ll hurt your credit report for years to come? Is a bankruptcy going to be better for your credit history in the long run than all the debts that may be accumulating on your credit report today?

Bankruptcy should only be used as part of a long-term plan to repair your credit. A bankruptcy will be listed on your credit report for at least 7 years and will negatively impact your credit score for at least that period of time. You should only file for bankruptcy if you plan to take concrete steps to repair your credit after your bankruptcy is finalized.

Depending on what debts you have incurred, you may file for either Chapter 7 or Chapter 13 bankruptcy. A Chapter 7 bankruptcy stays on your credit report for 10 years, while Chapter 13 stays on your credit report for 7 years.

Under Chapter 7 bankruptcy, certain eligible assets may be liquidated to pay off your debts. With Chapter 7 bankruptcy, your debts will either be redeemed or reaffirmed. With redemption, you pay any secured creditors a lump sum as collateral for each secured debt. The lump sum you pay is based on the current value of any asset the creditor has secured. Any remaining debt is discharged after you make a lump sum payment and the asset becomes yours free and clear. If you can’t pay the lump sum your asset may be seized and resold by the creditor.

Any of your debts that are reaffirmed may be made payable under the original terms of the agreement you signed with a particular creditor. The debt will still be legally enforceable and must be repaid, with the creditor holding a security interest on the debt until full repayment takes place.

Under Chapter 13 bankruptcy, you have to undergo a mandatory repayment plan to pay off your debts within 5 years. This will allow you to reorganize your debts so you can keep any property like a home or automobile from being seized as part of the bankruptcy proceedings.

Filing for bankruptcy won’t eliminate any alimony, child support, fines, taxes, judgments against you or student loan debts. You may be able to get some student loan debts liquidated if you can prove extreme financial hardship.

If you’re found guilty of committing fraud in establishing a line of credit for yourself, you’ll be fully responsible for all the debts incurred in these credit lines.

Once you’ve successfully filed for bankruptcy you can finally begin the long and arduous road to credit repair. You may still qualify for some lines of credit with very high interest after you file for bankruptcy and should just use these credit lines to show that you can manage your debt this time around. Make a few small purchases and make small enough monthly payments that will ensure a small portion of your debt will still remain on these accounts from month to month. Positive repayment history on these accounts will slowly build your credit rating once again.

Bankruptcy will provide you with no quick fixes if your ultimate goal is credit repair. Only time and a lot of diligence on your part will get your credit back on track. The steps you take today will have an impact on your credit for years to come.

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John Campbell is the writer and editor of CashBuzz, A financial portal for the rest of us. Check out cashbuzz.com for the latest articles on money management and tips and tricks that can help improve your finances. This article may be reprinted on your Web site if the copyright, author information and active link are included.

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Golf schools all over the country enable both golf enthusiasts and others to spend as much time as they want learning the sport. These facilities are now within reach. Golf school resorts have opened their doors not only to members, but to seasonal visitors as well.

Golf school resorts are becoming increasingly popular across the globe. It’s a good idea to go to these facilities of you want to focus golf lessons, and at the same time relax, bask under the sun, and enjoy great views (and food) after a day’s lessons.

Golf school resorts make various training courses available to suit every individual’s needs and skill level. There are many golf courses to choose from - there are one-time, nine-hole lessons, golf clinics, special packages for corporate outings, and beginner’s golf school courses. Some resort staff members provide one-on-one training setups. The rates vary depending on the duration of training time and the course level taken up by the learner. Smaller fees are charged to the regular and occasional members of the resort’s golf school.

The best golf school resorts feature very well-maintained conditions, copious water and wildlife, and varied terrain -from windswept dunes to lush wetlands. The best golf school resort instructors are PGA pros. These facilities usually have a lot of snack bars and lounges for chatting, and they provide electric carts and club rentals at special rates.

Golf school resorts are also great for families. Family members who are not into golfing can simply enjoy the golf school resort’s other facilities, such as fully equipped fitness centers, spas, shops, and specialty lessons (such as yoga and Pilates). Now your whole family can come with you, even if they are not into golf.

Golf Schools provides detailed information on Golf Schools, Golf Vacation Schools, Top Golf Schools, Golf School Resorts and more. Golf Schools is affiliated with Golf Swing Instruction.

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Are you considering a visit to Cancun or the Riviera Maya, but are concerned with the damage caused by Hurricane Wilma this past October? You are not alone. I will share information from unbiased travel agents and travel industry experts that have seen the repair progress first hand. Hopefully, this will ease some of your concerns and get you back to the beach with a Margarita in hand!

The downtown Cancun region was the hardest hit of the resort areas in the Yucatan Peninsula and vacationers would be wise to avoid Cancun until late summer 2006. If you are a bargain hunter, you might be hard pressed to find discounts. Many of the overflow visitors scheduled to stay in Cancun have filled the resorts in the Riviera Maya.

As you might expect, the work to rebuild the tourist areas of Cancun and the Riviera Maya started immediately after Wilma had passed. The Mexican Government and the people of Mexico are working day and night to restore their beautiful resort destinations. They look forward to welcoming you back to relax on their white sand beaches. When you do return, you will find that many of the beaches in the Riviera Maya have been expanded. Some have decreased; it varies from resort to resort. Some of the properties are listed below. Cancun will begin a $20 million beach restoration project in December 2005.

The airport is fine, and undergoing minor repairs. Here is a breakdown of some of the individual resorts in the Riviera Maya that are accepting vacationers. You can find additional details and photos at GoAwayTravel.com.

Iberostar Paraiso Maya - looks great, beach is fine
Iberostar Paraiso Lindo - one restaurant is being repaired near the beach, property and beach are fine
Iberostar Paraiso del Mar - freshly painted on the outside, property and beach fine
Secrets Capris - looks great, gained more beach
Bahia Principe Tulum - at 100%, gained beach
Bahia Principe Akumal - at 100%, gained beach
Bahia Principe Coba - new hotel complete and ready to open
Sunscape Tulum (Dreams as of 12/15) - gained beach. New pool and some oceanview rooms will be ready 12/15.
Grand Palladium Colonial and Kantenah - looks great
Grand Palladium White Sand - new hotel, rooms are complete. Construction still going on with pool and restaurants but still scheduled to open on time
Barcelo Maya Tropical and Colonial Beach - new hotel, looks great, beach is great
Barcelo Maya Beach - everything was fine, freshly painted outside, beach is great
Adventura Spa Palace - repairing one restaurant, everything else is great. All spa facilities are fully functional.
Iberostar Tucan - hotel and beach are great. The jungle area is sparse but the animals are still there
Riu Yucatan - fully operational, still a great beach
Riu Playacar - fully operational, still a great beach
Riu Palace Mexico - fully operational, still a great beach

Jack Reidelberger is co-creator of the online travel website GoAwayTravel.com, a website that specializes in treating your vacation like it’s their own.

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