Yes. It is usually the only other option for a borrower. If not the creditor might seek legal recourse in the form of a lawsuit. Even though the idea of a lawsuit is "scary" it can be a better choice than BK, depending on circumstances of the borrower.
If bankruptcy has been dismissed it is possible to file again. The trustee will require an explanation of why the first case was dismissed before accepting a new bankruptcy case.
:A bankruptcy under chapter 7 or 11, or a non-discharged or dismissed chapter 13 bankruptcy generally remains on your credit file for 10 years from the date filed. A discharged chapter 13 bankruptcy generally remains on your credit file for 7 years from the date filed.
No, it will remain for seven years.
not at the same time, and you'll have to wait a certain period of time after being dismissed/discharged from one before filing the other.
A Chapter 13, whether it is dismissed or successfully receives discharge, is on your credit report for 7 years. A chapter 7 is on your credit report for 10 years. i called equifax and a discharged chapter 13 stays on for 7 years and a dismissed chapter 13 stays on for 10 years
If bankruptcy has been dismissed it is possible to file again. The trustee will require an explanation of why the first case was dismissed before accepting a new bankruptcy case.
Yes. It will show that you filed bankruptcy and that the bankruptcy was dismissed.
:A bankruptcy under chapter 7 or 11, or a non-discharged or dismissed chapter 13 bankruptcy generally remains on your credit file for 10 years from the date filed. A discharged chapter 13 bankruptcy generally remains on your credit file for 7 years from the date filed.
No, it will remain for seven years.
No once filed on file. * A dismissed or discharged chapter 7 will remain on a credit report for ten years. A dismissed or completed chapter 13 will remain on a credit report for 7 years.
not at the same time, and you'll have to wait a certain period of time after being dismissed/discharged from one before filing the other.
Having a bankruptcy dismissed does restart the statute of limitation on a bankruptcy. You will have to wait eight years to file another bankruptcy.
Some strict limitations have been set by the new bankruptcy law. Debtors will not be able to file Chapter 7 bankruptcy if they've been through a Chapter 7 within eight years of the new filing. If they want to file for Chapter 13, they will not receive a discharge within two years of a previous Chapter 13 discharge and within four years if they were discharged from a Chapter 7, 11 or 12 bankruptcy.
A Chapter 13, whether it is dismissed or successfully receives discharge, is on your credit report for 7 years. A chapter 7 is on your credit report for 10 years. i called equifax and a discharged chapter 13 stays on for 7 years and a dismissed chapter 13 stays on for 10 years
You do not have to be unemployed to file bankruptcy.
Not unless the c. 11 has been dismissed or closed. You cannot have two bankruptcy proceedings pending at the same time. If the c. 11 was dismissed for cause, you may have to wait 180 days to file the c. 7.
You can file bankruptcy again 7 years after the last time you filed.