2006-08-10 06:45:55 · 7 answers · asked by jason f 1 in Business & Finance ➔ Credit
It will take quite awhile before you can re-establish credit, so you can't have a credit card, unless it's secured or VERY high interest rate and fees, you can't get an unsecured loan, a mortgage, etc. etc. But, people do it and sometimes it is necessary.
2006-08-10 06:53:19 · answer #1 · answered by LindaLou 7 · 0⤊ 0⤋
make sure you know for sure whether you want to go through with the bankruptcy!!! chapter 7 and chapter 10 discharged is 7 years BUT chapter 10 dismissed is 10 years!!! What that is, is if you go to the courts and pick up paperwork and then decide not to go through with it. They will place this on your credit file because they feel your creditors have a right to know that at one point in time you did consider bankruptcy. So they could be at risk of not being paid or only being paid back some if you have a debt with them.
2006-08-10 15:15:33 · answer #2 · answered by Anonymous · 1⤊ 1⤋
Some of the things people are telling you are not true. I am a Mortgage Broker and we have programs for people that are a day discharged from bankruptcy. Also you credit is not necessarily ruined for how every many years. I've seen people about a year out from being discharged from bankruptcy and have better credit than people who have never filled bankruptcy.
2006-08-10 15:05:06 · answer #3 · answered by rissybabe2210 1 · 1⤊ 0⤋
Yeah! It will be all over your credit report that you ran your debt so high, you couldn't repay any of it. Most lenders won't even touch you for years after filing for bankruptcy. But if your debt is so high and credit agencies are suing you, that may be an only option. If it is really bad, don't even touch a consolidation company. I'd rather have bankruptcy on my credit report than a consolidation company.
2006-08-10 13:54:35 · answer #4 · answered by bella_4624_19 4 · 1⤊ 2⤋
it is on the record of credit bureau for 7-10 years.
But that record will be with you for the rest of your life. Somewhere on employment application, they have the question. Have you ever file for bankrupcy in so so years? If you said no, you technically liable or dishonest with the record.
2006-08-11 00:00:35 · answer #5 · answered by Hoa N 6 · 0⤊ 0⤋
i filed bankruptcy last year and i got credit cards within 2 months without any problem.i think its the new bankruptcy law
2006-08-10 17:55:04 · answer #6 · answered by sue t 1 · 0⤊ 0⤋
You won't be able to buy a house, or rent a place and etc..
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http://www.bestcreditrates.net
2006-08-10 14:42:10 · answer #7 · answered by Anonymous · 0⤊ 0⤋