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Answered 2008-01-17 07:46:39

If you are on the brink of bankruptcy... you probably can't get a credit card. Opps... didn't read that right. Sorry. I really don't know.

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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.


That decision is up to the creditor who is considering grantin you credit. It really depends on what they have with their credit since filing for bankruptcy.


After filing for bankruptcy in Canada you may borrow money. The risk is borne by the creditor. During bankruptcy, after filing but prior to being discharged, you may obtain credit with a value of up to $1,000. without advising the creditor of your bankruptcy. Should you seek to borrow more than $1,000 you are obliged to advise the lender that you have filed for bankruptcy.


No, unless the creditor gets relief from stay or the bankruptcy is dismisssed.


Yes. It is the most common reason for filing for bankruptcy. If the judgment creditor had an execution issued and attached any equity in your home, you may have a problem.


Bankruptcy is the filing of a petition that claims your assets, and your inability to pay for them. Bankruptcy severely effects your credit, and is present on your credit for 7 years. During this time getting credit cards or loans can be very difficult.


Only those creditors you list on your bankruptcy schedules / creditor matrix (list) will receive actual notice.


For filing bankruptcy? No. Filing for bankruptcy is not illegal and your right to do so cannot be waived by contract.For fraud? Yes, but the fraud would have to be proven.For the money you owe? Possibly, but pointless, since they are already a creditor and a successful lawsuit will only make them a creditor, which they were to begin with. It wouldn't even raise their standings in the priority of repayment from the bankruptcy discharge.


To receive a car loan after filing for bankruptcy you will probably have to rebuild your credit before applying. You can also find a co-signer with amazing credit to counteract yours.



Most states do not require you to take a credit counseling course before filing bankruptcy. This is typically a volunteer activity.


When a bankruptcy is filed, an "automatic stay" takes effect, essentially a prohibition against any collection action by a creditor without the court's permission. This occurs even if the creditor has no immediate notice of the filing. Any collection action taken after the filing must be undone by the creditor.If there is a proceeding in a civil court to collect the debt, the appropriate action for the debtor is to notify the court of the filing, giving the name and address of the bankruptcy court, the date of filing and the docket number of the case in the bankruptcy court. This is often called a "suggestion of bankruptcy" or notice of bankruptcy."


What, and leave me to pay your bills? Don't be a parasite on society!


This is an incorrect assumption that leads many people to avoid filing for bankruptcy. They fear that a bankruptcy will ruin their credit for a long time and that they will not be able to use credit, rebuild their credit or purchase a home in the future. The reality is that the majority of the people who are considering bankruptcy, already have poor credit, due to late payments, repossessions and foreclosures. Further, most people who file for bankruptcy can rebuild their credit to a relatively good level after two years. This depends significantly on what they do after filing for bankruptcy. It is important that you work toward rebuilding your credit after filing for bankruptcy.


The judge may disallow those debts from the bankruptcy because you are obviously attempting to defraud the credit card company.


Yes. Since the "Car Sales Company" went into bankruptcy, your financial agreement with your "Creditor" (bank, credit card, credit union, etc...) has not dissolved the loan. Check with your creditor (who you send your monthly to?) and/or continue paying for your car. This will help you keep your own personal credit in good standing.


I assume you mean after YOU filed bankruptcy (the creditor's filing bankruptcy doesn't affect your garnishment, except maybe to change who's "garnisheeing"--NOT "garnishing"--your wages). If so, contact your attorney so he/she can bring the creditor into court for violating the automatic stay.


Yes, in fact they might ask the debtor if that is what they are considering. It is the opinion of some that a creditor might rush to file suit but this is a ridiculous argument, as lawsuits can be stopped and then discharged in bankruptcy. Also it takes an average of 15-20 months for the typical creditor-debtor suit to reach court, as opposed to the average bankruptcy filing of a few months.


Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.


In some cases, it actually does. This really depends on a lot of factors and variables, but I have seen credit scores increase 100+ points after filing a bankruptcy.


Bankruptcy IS debt relief. After filing bankrupt, you HAVE no more debts. No credit, either, but that's the way it works.


By filing a proof of Claim, or by addressing questions/arguments to the court


"Whether a debtor keeps credit cards after filing bankruptcy is up to the credit card company. If you are discharging a credit card they will cancel the card unless you reaffirm the debt. Even if you have a zero balance the credit card company might cancel the card."


Yes, all creditors have the legal option of filing a Motion for Relief From Stay to allow them to be excluded from the bankruptcy petition.


You need to notify the Credit company, once you've done that you may suspend payments.



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