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Answered 2013-03-21 16:54:21

Sometimes credit card charges are not included in bankruptcy. If they are then you will no longer be able to use them.

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No... any cards that are solely in your name - are YOUR responsibility. Only cards and accounts in joint names will be affected.


Your personal credit will not be affected if your spouse files bankruptcy alone. Be careful though in future transactions if you apply jointly for credit later... it will show up there.


If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.


How will this affect my credit score? How much does it cost? What can I declare in the bankruptcy? How long will it take?


If the account the cosigner is on is included in the bankruptcy it will appear on their credit report. In most cases the cosigner will not be relieved of the debt when the primary holder files for bankruptcy. The creditor(s) can then pursue the cosigner for the collection of money owed.


Bankruptcy may remain on your credit report for up to ten years. However, what is probably more important to you is the impact that bankruptcy will have on your credit options. That depends heavily on how you handle your finances and credit accounts after bankruptcy. Many bankruptcy petitioners who manage their credit carefully and make an effort to rebuild credit are able to qualify for traditional mortgages and car loans within about two years.UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Bankruptcy from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "bankruptcy" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The Federal Court that the bankruptcy was filed in may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.


The bankruptcy will remain on the credit report until the required ten years has expired. UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Bankruptcy from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "bankruptcy" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The Federal Court that the bankruptcy was filed in may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.


Yes. I tried to remove a dismissed bankruptcy from my credit report. All agencys were contacted and so was the FTC. They said they had a legal right to keep the Bankruptcy dismissal information on the bureaus files.


Bankruptcy is filed in federal district court. You may want to start with their files.


When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.


If a car dealership files for bankruptcy, someone will purchase the accounts receivable as part of the bankruptcy settlement. That person or company should contact you and tell you where to make payments.


Getting a loan after bankruptcy can be difficult depending on what type of bankruptcy one files. A Chapter 13 bankruptcy, one cannot even apply for credit during the length of the bankruptcy. In a Chapter 7 bankruptcy, that is a different story. One can file Chapter 7 bankruptcy and as soon as it is discharged can apply for credit. The only problem with getting a loan after bankruptcy is that you may have to have a co-signer until you build up some positive credit.


A person that files for bankruptcy will more than likely have their credit score decline. This will not make them a good candidate for being a cosigner.


No. The repossession will be its own listing. If is was including in the bankruptcy, it will be listed as 'included in bankruptcy' but it will still be listed as its own listing.UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Bankruptcy from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "bankruptcy" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The Federal Court that the bankruptcy was filed in may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.Not only can you get a Bankruptcy Legally Removed from your credit report but you can also get Foreclosures, Default Judgments, Tax Liens, Repos, collections etc...all removed. All negatives no matter how bad, how many or how recent ... they all can be removed legally!


After a person files bankruptcy, one must raise their credit score high enough to obtain a credit card. Once this is done, the process is simple and all a person must do is to fill out the normal paperwork.


Yes, unless you request the credit reporting bureaus to separate your accounts.


When a person files for bankruptcy and their case is discharged they can immediately begin rebuilding their credit. It isn't unlikely for a person's credit score to bounce back to 750 or higher within the matter of a couple years.


If someone wanted to improve their credit rating there are a variety of places where someone can do so. Some of these ways are for the individual to check their credit files.


You credit card debt, for the most part is discharged when you file for bankruptcy. As soon as a debtor files for bankruptcy, there is an automatic stay and most creditors must stop their collection efforts. Thus, the debtor can begin rebuilding his credit; financially-speaking, the debtor can start over.


If you have co-signed and the primary borrower has defaulted, you will need to step up and pay. If not then it will hurt your credit rating.


Of course. In fact, more than ever. The bank or company files bankruptcy, which effects it's debts...not YOURS. In fact, it's creditors, (people it owes), and the Court in charge, now take the assets of the Bankrupt to pay for the debts as best they can. Your debt to the bank is an asset they want to use.


Not really, if Person B is just a person who received an additional card with access to that account. Person A is the person's whose credit is on the line for the account. Person B is in no way liable for the account because Person B is not part of the credit card agreement. The bankruptcy will not affect person B. Now the reason I say "not really" is because that account will be closed and Person B will no longer receive the benefit of having this account on their credit report as an authorized user. There may be a slight decrease but only from the general closure of an account.


When someone files for bankruptcy, they are protected and their possession will likely not be repossessed. However, if they are, subject to repossession you would have to talk to a lawyer in order to keep the car.


Yes it is - when someone files for bankruptcy, that information is listed within public records.


Yes. The bankrupt institution will pass your debt to its creditors that it owed money to.



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