2007-08-07 18:30:20 · 3 answers · asked by oracle 1 in Business & Finance ➔ Credit
well that stays on your credit report ten years. If you apply for any loan in the future then you'll be held back, same for certain jobs and for rentals.
What is it you're most concerned about? If you have good income and have been at the job for a long time you more than likely right after a chapter 7 can go buy a new car. In fact, if that's the case then now is your chance to try that.
2007-08-07 18:36:37 · answer #1 · answered by sophieb 7 · 0⤊ 0⤋
After you declare bankruptcy, certain things occur. The most important thing that happens is that you get a tremendous sense of relief from having to clear off your unsecured debts. But the other side of the coin is that your creditors and lenders will start considering you risky. This will make it difficult for you to get extended credit when needed. Those lenders who agree to give you credit will charge higher rate of interest. But this gives you a chance to improve your credit after bankruptcy.
2007-08-08 06:53:36 · answer #2 · answered by biskio 2 · 0⤊ 0⤋
debt = slavery anyway...
Go check out zeitgeistmovie.com
2007-08-08 01:38:35 · answer #3 · answered by bluecuriosity 2 · 0⤊ 0⤋