How Long will it take to get good credit back? Is it still 7to 10 years?and do you have to give up anything like a car or things like that?
2006-08-19 19:09:39 · 2 answers · asked by Misstravel 2 in Business & Finance ➔ Credit
The newest laws for bankruptcy are certainly not a topic to be covered here. Bush rammed through a bankruptcy law that makes it really tough on the working person. Generally you can not totally rid yourself of debt anymore. A bankruptcy attorney should give you one free office visit to address your questions.
Even though the bankruptcy will remain on your credit record for many years, if you pay everything timely for about 2 years you can build your credit up again. You will need a prepaid credit card that should be paid promptly when you receive the bill each month.
It is a slow process, but it can be done if you pay everything on time. If you don't have the money for it, don't buy it.
2006-08-19 19:52:41 · answer #1 · answered by lcmcpa 7 · 1⤊ 0⤋
bill clinton fought the rethuglicans on the new bankruptcy law, because it is ruinous for the common person. of course, bush made sure it passed right away. click the links for details.
2006-08-19 19:20:11 · answer #2 · answered by t jefferson 3 · 2⤊ 0⤋
Consult an attorney.
2006-08-20 14:15:03 · answer #3 · answered by arejokerswild 6 · 0⤊ 0⤋