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What are the Negative consequences of filing chapter 7?

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Anonymous

 ∙ 17y ago
Updated: 11/10/2022

If you are filing because of unpaid debt that is too large to try to settle in a lump sum and you have bad credit due to slow pay/no pay or foreclosure, there are no negative consequences. Credit card companies will be offering you credit even before your case is closed. The bankruptcy will stay on your credit reports for 10 years. Bad credit marks stay on for 7 years, and if you have been sued and have judgments against you, the judgments stay on for 10 to 20 years.

If you are filing to get out of a student loan, child support or one debt you don't want to pay, don't do it.

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Wiki User

 ∙ 17y ago

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Related Questions

Does income count AFTER you file chapter 7?

A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing bankruptcy.

In a Chapter 7 bankruptcy a person filing for relief is called a?

In a Chapter 7 bankruptcy, a person filing for relief is called a

When do you get discharged from a chapter 7?

about 4-5 months after filing chapter 7.

What can be done to attain employment at 60years old after filing chapter 7 bankruptcy What if there is reasonable reason for filing chapter 7 Could the reason for bankruptcy be told to the employer?

How to get after job filing chapter 7 bankruptcy once it appears on the credit report

Can you rent out your home after filing chapter 7?

Sure.

Can you vote after filing chapter 7 bankruptcy?

Yes you can.

Can you own a storage unit when filing a chapter 7?

You can own anything you want when filing.

Can you quit your job before filing chapter 7?

Only if you have filed chapter 6.

When can you file a chapter 7 bankruptcy if you had a chapter 7 discharged in December 2001?

The bankruptcy petitioner can file another chapter 7 8 years after the date of filing of a previous chapter 7.

Can you file chapter 7 bankruptcy now after filing in July 2004?

A person can file chapter 7 after 8 years from a previous chapter 7. So the answer is NO.

How long do you have to wait to file bankruptcy after last bankruptcy?

You have to wait eight years after filing for Chapter 7 and 4 after filing for Chapter 13.

Can you include your home filing chapter 7?

by law you must

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