Will bankruptcy affect my credit?
How bad will personal bankruptcy affect my credit?
Lorene Lynn Mies, APLC
Interestingly enough your credit will improve within a year after filing bankruptcy under Chapter7. Your debt to income ratio is where creditors like to see it and you have no debt. And you can't file another Chapter 7 for 8 years. I have had many clients inform me of numerous offers for credit right after their discharge.
Disclaimer: The response above does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice.
Replied: 8/27/2010 Disclaimer: The response above does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice.
Klinger Law Center
Although the bankruptcy will be noted on your credit report, it is not the end of the world. Once your bankruptcy is discharged, you can typically get credit cards again, buy automobiles, and over time, obtain a home loan. Bankruptcy wipes your financial slate clean and provides you with a new start. Many people begin rebuilding their credit immediately after discharge.
Call us to set an appointment for a free no obligation consultation with an attorney.
Disclaimer: The response above does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice.
Replied: 7/15/2010 Call us to set an appointment for a free no obligation consultation with an attorney.
Disclaimer: The response above does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice.
Diefer Law Group, P.C.
A bankruptcy will affect your credit. The issue is how bad it is now. If you have bad credit, it might not get much worse. If you have excellent credit, then it will definitely have a bad effect on it.
Disclaimer: The response above does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice.
Replied: 7/14/2010 Disclaimer: The response above does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice.
Law offices of William Michael Frantz, M.B.A., J.D. Attorney At Law
Personal Bankruptcy will definitely adversely affect your credit.
For a free consultation, contact me.
Disclaimer: The response above does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice.
Replied: 7/14/2010 For a free consultation, contact me.
Disclaimer: The response above does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice.
More Questions on Bankruptcy
- Can I sell my assets before bankruptcy?
- Do all credit cards have to be listed on a bankruptcy?
- How long is credit affected by bankruptcy?
- Can I purchase a house before bankruptcy discharge?
- Is bankruptcy a common problem for job seekers?
- What will bankruptcy do to my default judgment?
- Can a contract be vacated by bankruptcy court?
- What can I expect if I file for bankruptcy after I become married?
- What can I do to save my business?
- Can dependents file bankruptcy?
- Do I have to list all of my assets?
- Can I include the IRS as a creditor?
- Does my daughter have to pay the debt?
- Can I file for bankruptcy as a new business owner?
- Will my payment change if the creditors do not file a claim?
- Will my Employment Stock Ownership Plan be protected?
- How does bankruptcy affect car leases?
- What can I do if I fall behind on my repayments?
- Can they garnish my retirement wages?
- Can I be sued after filing chapter 7 bankruptcy?
- Can I exclude federal loans from my bankruptcy?
- Can I file for bankruptcy without information from my ex?
- Can I leave the country during my chapter 7 bankruptcy?
- Should I reaffirm my mortgage?
- Is it possible to file both Chapter 7 and Capter 13 bankruptcy?
- Can I file bankruptcy?
- What will be included in my bankruptcy?
- Can I include a defaulted student loan in my bankruptcy?
- Will we be able to hold onto our land if we file bankruptcy?
- Will my 401K be affected in a bankruptcy?
- If I own a business can I file for bankruptcy?
- Is the civil ruling in violation of my bankruptcy?
- Can I sell my home in a chapter 13 bankruptcy?
- Can I file a chapter 13 bankruptcy if I have no job?
- Will my mutual fund be affected by bankruptcy?
- Will civil judgments against me be dismissed through bankruptcy?
- Will bankruptcy remove the lien on my home?
- What type of bankruptcy would best suit us?
- Will bankruptcy discharge the judgment against me?
- If we default on our bankruptcy payments, can we file again?
- Are there home ownership guarantees in bankruptcy?
- Will I incur his debts because he filed for bankrupty?
- Can funeral expenses be included in bankruptcy?
- Can a 501(c)(4) non profit file for bankruptcy?
- How many times can you claim chapter 7 bankruptcy?
- Do tax returns have to be provided to the trustee?
- Can taxes be included in bankruptcy?
- Can my home be saved?
- Will my home be foreclosed if I file for bankruptcy?
- Will I lose my credit card purchases in a bankruptcy?
- Can we file for bankruptcy if we live overseas?
- Can I file for bankruptcy a year after my husband did?
- Are personal loans considered debt in bankruptcy?
- Will my child support be erased if I file for bankruptcy?
- Will they take my home if my mortgage is discharged?
- Will those who bought my debt come after me?
- Will my payments increase if I rent?
- Will judgments attached to my home be discharged?
- Will they come after me because I co-signed the equity loan?
- Will I still have to pay my divorce attorney?
- Can I file for chapter 7 bankruptcy and still keep my vehicle?
- Will his pension and IRA be hurt by my bankruptcy?
- Should I include under the table pay in my bankruptcy?
- Will I still be responsible for his loan?
- Do include my car loan in my bankruptcy?
- Can we make our customer who filed for bankruptcy pay us?
- Will my credit card be taken away if I file for bankruptcy?
- Can he join the military with a DUI?
- Are salary advances dishargeable?
- Where am I listed for filing for bankruptcy?
- What can we do if the seller has filed for Chapter 11?
- How long can I live in my home after bankruptcy?
- Can I get the bankruptcy info removed from my credit report?
- Will the bankruptcy affect my joint accounts?
- Will the vehicle be repossessed if I file?
- Do I have to give the trustee my tax refund?
- How can she prevent foreclosure?
- How do I get papers from my bankruptcy?
- Can a permanent resident file for bankruptcy?
- Can the creditor still take money?
- What are the requirements for bankruptcy?
- Can I get my loan back?
- Can I include premarital debt in my bankruptcy?
- How long can I stay in my apartment?
- What happens if my income increases?
- Do I have to give the tax return?
- If I file for bankruptcy will the foreclosure stop?
- What will happen to my positive equity if I file for bankruptcy?
- Will my monthly payments be reduced through bankruptcy?
- How much does a bankruptcy cost?
- How do you qualify for a partial payment plan?
- Should we file for bankruptcy before or after our divorce?
- Can I include my loans when I file for chapter 7?
- What will I lose if I file for bankruptcy?
- Will I still be able to rent?
- Will 1099-Cs be taken care of in a bankruptcy?
- Will workers compensation count as income?
- Can I double federal exemptions by joint filing?
- Will I have to pay mileage overage on my car?
- Should we have been notified of the lien?
