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Credit rating plummets when filing for bankruptcy. Bankruptcy should be the last resort and one should try everything to not go bankrupt - keep saving as much as possible.
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∙ 11y ago
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Do you have to get credit counseling before you can file for bankruptcy?
You do not have to necessarily get credit counseling before you can file for bankruptcy.
Can you file for bankruptcy with a repo on your credit?
The fact that you have a repossession on your credit report is not a determining factor of whether your can file for bankruptcy. Generally in bankruptcy you can remove the debts from the repossession of your vehicle.
If you are an additional card holder on a parent's credit card account and you file bankruptcy will the bankruptcy appear on their credit?
The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.
If a credit card company sues you can you file bankruptcy?
Thier actions, or lack, do not effect your ability to file for bankruptcy.
If credit card puts lien on house and i file bankruptcy can i still file the credit card in the bankruptcy?
You have to, it is a debt...it is just a secured debt...by the lien on the property.
How many years would a bankruptcy filed in 1997 affect your credit?
My Sister is a solicitor in conveyancing and we are buying a house she is dealing with the searches and one of the searches is for Bankruptcy. She sais that they search for Bankrupsy in the last 10 years. Once Bankruptcy is resolved you have to wait at lease 6 years for it to be removed from your credit rating file then you need another 3 - 5 years to build up your credit rating again. Hope this helps
Which damages your credit rating more chapter 7 or chapter 13?
If you have to file bankruptcy, your credit has already been seriously damaged by your credit history. Any form of bankruptcy will help. Chapter 7 will help the quickest, since everything happens, if filed properly, within 6 months. Chapter 13s can last up to 5 years, and most fail before the plan is completed.
If you file bankruptcy will that remove a charge off report from a credit card?
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.
How do you finance out of Bankruptcy?
File for bankruptcy and then try and start over. Your credit will be messed up though.
Can you file bankruptcy on credit cards that are not in your name but you are responsible for?
check Federal Bankruptcy act 801.3
Can you file for bankruptcy if your credit cards have gone into collections?
Yes.
If you file for bankruptcy twice will it appear on your credit twice?
Yes!
