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Debt acting like a cancerAfter the second time a chapter 7 is filed and completed, a person's credit scores may turn out better then before. The key to high credit scores entirely depends on the individual and the way in which he handles his finances. If we don't pay our bills on time and max out our credit cards, then we will be right back where we started. Filing chapter 7 is like that of a needed surgery, where in order to get out of the hole, we must cut out the debt. With high interests charges it could very well take a person a lifetime to pay everything off and especially if he's maxed out. In order for a person to get someplace, the over burden of debt must be eliminated. That's what the chapter 7 is for. Its easy to restablish good credit if the person is disciplined and determined.
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โˆ™ 2011-09-13 12:13:43
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Q: What happens to your credit score if you file chapter 7 twice?
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