Does anyone else think its unfair that somepeople can get into horrendous debt and then just have the slate wiped clean. Basically that means they have had loads of free money.
2007-02-01 11:46:34 · 3 answers · asked by smudgeuk9 3 in Business & Finance ➔ Credit
You are sadly misinformed. We had to claim personal bankruptcy a few years ago. We had to pay X amount of money to the agency per month, for approx 2 yrs in order to have a clean slate as you put it. The bankruptcy will stay on our record for 7 yrs making it hard to get credit cards, loans or anything else. That measure is taken as a last resort for most people. It's not something that people are proud of.
2007-02-01 12:02:55 · answer #1 · answered by mama3 5 · 1⤊ 0⤋
How to Improve Your Credit Rating After Bankruptcy
Bad credit and bankruptcy are the two most dreaded words in the financial world. These two things can greatly impact your financial situation. But what you are not aware of is the fact that you can improve your credit rating after bankruptcy.
2007-02-01 15:28:45 · answer #2 · answered by stew w 2 · 0⤊ 0⤋
yes, it is one of the bad results of banks not lending responsibly.
Still, never will they get a mortgage, a credit card, a contrct phone or anything.
Look after your credit, I didn't and it has taken me years to fix!!
2007-02-01 11:50:23 · answer #3 · answered by Anonymous · 0⤊ 0⤋