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If your credit score is 535 after filing a chapter 7 bankruptcy that is not discharged will it lower more when the discharge becomes official?
Wiki User
∙ 12y ago
Your credit rating after bankruptcy is based on a number of factors. Many people are consider a good credit risk after bankruptcy if they have no debt and a job. Visit my web site for an article on rebuilding credit after bankruptcy: http://www.chs-law.com/2005/05/rebuilding-credit-after-bankruptcy.HTML.
AnswerMy score raised from 530 to 572 when I received my chapter 7 dicharge.Wiki User
∙ 12y ago
Wiki User
∙ 14y agoMost likely, yes. One of the biggest effects that filing for bankruptcy has is on your credit. Bankruptcy will stay with your credit for roughly 10 years and because of that your score will decrease, at least initially.
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If I dont pay my bad credit how long before it legally becomes void?
There is no statute of limitations on debt. If you owe it, you always owe it, unless the debt is 'discharged' during a bankruptcy proceeding.
Will filing for bankruptcy affect a judgment against you?
A bankruptcy doesn't dismiss another legal action, like a judgment. But you can include the plaintiff's claim in your bankruptcy. The judge may allow this debt and discharge it along with all your other obligations.
If the cosigner files bankruptcy and claims the debt of the cosigned loan is the cosigner relieved of the cosigned debt?
Unfortunately, no. For all co-signed debts, both signers are liable for repayment of the debt. When one party has their obligation discharged by bankruptcy, the remaining debtor becomes 100% liable for repayment of the balance.
Can a lawsuit settlement be taken after bankruptcy discharge?
If the debtor has a lawsuit for damages AGAINST a person, that lawsuit becomes part of the BK and the BK trustee would have the power to settle/go to trial and keep any judgment for distribution to creditors. If the debtor is being sued by ANOTHER person, it would have to be listed in the BK petition, and the cause of action would be discharged (unless it involves debts that are non-dischargeable)
What does the term 'corporate bankruptcy filing' mean?
Corporate Bankruptcy Filing is the name given to the process when a business becomes insolvent and unable to meet their debt commitments. This is in contrast to personal bankruptcy where an individual becomes insolvent.
If you discharge the debt of your home with a chapter 7 bankruptcy can they take your home if you are paying the monthly loan payments?
The debt is secured by the property. The debt won't be discharged without the property being used to pay off as much of that debt as possible (called a secured claim..getting the first right to the money from that asset - any excess (that is extra debt) becomes an unsecured claim pais by the sale/seizure/sue of the unsecured assets)....NO IN BK YOU DON'T GET TO JUST DISCHARGE DEBTS AND KEEP ASSETS. BK involves all of your debts and all of your asssets...(not selected ones)...they are given priorities under the law and by the court...one is used to pay the other...excess debt of some types may be discharged and in essence "forgiven". And I'm confused, if you think the debt on your home was discharged - so their is no loan...what payments would you have to default on?
Why tan delta test give negative values?
The reason is that internal voids within the insulation will discharge as the voltage rises; once discharged, they will not do so again at some higher voltage. if all voids become discharged, theoretically the plot of tan delta versus voltage would level off to a horizontal line. In effect, tip-up becomes "negative".
What does dischargement mean?
It's normal to have some vaginal discharge, as the vagina stays moist as part of its self-cleansing mechanism. The normal moist discharge clears dead cells and bacteria from the vagina. It comes mainly from glands in the cervix (the neck of the womb), and is slightly acidic, which helps to keep infections at bay. The acidity results from lactic acid, formed by 'friendly' bacteria as they break down sugars. The amount of normal discharge varies from woman to woman, and with the menstrual cycle. Many women notice that during the week after a period there is hardly any discharge, and what there is has a thick consistency. Towards the middle of the cycle (about 2 weeks after the start of a period) the amount increases and it becomes thin, slippery and clear, like uncooked egg white. When this discharge is exposed to the air it becomes brownish-yellow, so it is normal to find a yellowish stain on your undies at the middle of the monthly cycle. There may also be a feeling of moistness and stickiness. Discharge also increases during pregnancy. And during sexual excitement, vaginal discharge becomes very profuse because two glands near the vaginal opening (the Bartholin's glands) secrete additional slippery mucus, which acts as a lubricant for intercourse. http://www.embarrassingproblems.co.uk/vaginalprobs1.htm
Can Chapter 7 remove your name from a joint mortgage?
There is nothing that "removes" a name from a mortgage. That contract, like all contracts, is relevant until it is completed (paid). However, chapter 7 bankruptcy can discharge the debt. On any joint debt that one party discharges through bankruptcy, the other account holder becomes 100% liable for the balance.
If you are a secondary card holder and the primary card holder declares bankruptcy how does that affect your score and what if you cancel your account before he declares bankruptcy?
If the BK filer is allowed to discharge the debt a joint account holder who is not a party to the bankruptcy becomes solely responsible for the entire amount. Cancelling or closing the account will not change the fact that the person will still owe the debt and it will eliminate the possibility of said person to negotiate terms with the lender if it becomes necessary. If the joint account holder continues to meet the required terms of the account agreement his or her credit score will not be negatively affected.
What is produced as a lead-acid battery is discharged?
When a lead acid battery becomes discharged both electrodes undergo chemical changes to form lead sulphate and eventually the battery dies.
What happens when you receive a summons that you are being sued by a credit card company right at the time you are filing for bankruptcy?
When a bankruptcy is filed an automatic stay goes into effect. This halts almost all actions by creditors such as, lawsuits, garnishments, foreclosures, contempt proceedings pertaining to failure to pay child support, evictions (except California). A creditor retains the right to petition the court to have the "stay" lifted, an action that is possible but not usually granted except when it pertains to secured property. Many of the debts owed that resulted in lawsuits, garnishment, etc. can be discharged in the bankruptcy. This however will NOT be true when new bankruptcy reform becomes law on Oct 17, 2005.
