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It takes seven to ten years after you initially declare bankruptcy for it to drop off your credit report, and you really should wait at least 1-2 years after that to declare again I hope that helped.
What else can I help you with?
Can you get a second mortgage after filing bankruptcy?
Yes, as long as the bankruptcy has been discharged, your credit score is 580+, and you earn enough income to support the additional loan.
Does wage garnishment stop the day you file Bankruptcy?
It should, but only for as long as the bankruptcy is active, and only so long as the debt is listed after the bankruptcy is discharged. More accurately, the garnishment must stop when the plantiff in the judgment has received notice that there is a bankruptcy.
How long should you keep bankruptcy paperwork?
Paperwork relating to the bankruptcy should be kept until at least the bankruptcy is off your credit report.
How long does a bankruptcy stay on a credit report?
Ten years from the date of discharge.
Can you file bankruptcy on a second mortgage and multiple credit cards?
It depends on what you want to do with the house secured by the second mortgage and which chapter of bankruptcy you file. First, regarding the credit cards, yes you can always file on multiple credit cards so long as they were not used in anticipation of bankruptcy. Generally it is a good idea to wait at least 90 days since any card was used before filing the bankruptcy case, and DO NOT make any charges once you think you may file bankruptcy. The run-up-the-cards-before-filing-bankruptcy technique many people think is so clever may be deemed fraud and can result in a federal lawsuit (called an Adversary Proceeding) and repayment of the debt plus attorneys fees. Second, regarding the second mortgage: If you want to keep the home, the second mortgage must be kept also UNLESS you are filing Chapter 13 AND the amount of the first mortgage exceeds the value of the home at the time of filing. So, in the vast majority of cases, if you file bankruptcy you are stuck with all mortgages if you want to keep the home. By way of example of the rare instance when a junior mortgage can be discharged in bankruptcy, say your home is worth $100,000, and you owe $101,000 on your first mortgage. If you file Chapter 13 (repayment plan), you can "strip" the second mortgage (and third, fourth, etc) since the amount owed on the first mortgage exceeds the value of the home. In Chapter 7, you have to keep all mortgages regardless of the value. Another example, say you owe $99,999 on the first mortgage and the home is worth $100,000, and you have a second mortgage on which you owe $50,000. The entire $50,000 second mortgage survives no matter what chapter of bankruptcy you file because it is secured by $1. Yes, only $1 can commit you to the entire second mortgage. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!
Can you travel overseas if you declare bankruptcy?
To travel overseas you will need a passport, and the money for travel expenses. As long as you have these items you can travel overseas as bankruptcy does not bar you from traveling.
How long can a bank require you to pay on a delinquent loan?
Until it's paid off, or you declare bankruptcy and have the debt forgiven.
How long after meeting with creditors do you know if you can declare bankruptcy?
That meeting, the 341 meeting...is normally sometime after you have filed BK. They don't decide if you can declare BK, obviously because they would always say NO.
Can someone who earns 80000 per year declare bankruptcy?
Anyone can file for bankruptcy as long as they have debt that they cannot payoff. They may not be eligible for a Chapter 7 in the average income in their area is less than 80,000/yr however.
Can you get a second mortgage after filing bankruptcy?
Yes, as long as the bankruptcy has been discharged, your credit score is 580+, and you earn enough income to support the additional loan.
How long bankruptcy after discharged records stays?
1st bankruptcy = 7 years 2nd bankruptcy = 20 years 3rd bankruptcy = life
Does wage garnishment stop the day you file Bankruptcy?
It should, but only for as long as the bankruptcy is active, and only so long as the debt is listed after the bankruptcy is discharged. More accurately, the garnishment must stop when the plantiff in the judgment has received notice that there is a bankruptcy.
How long before graduation can one declare bankruptcy and remove college loan debt?
to save yourself from loans one way is that you rent or swap your college textbooks..you can also buy used ones through the social bookstore www.bookgator.com
What are the Florida limits on home exemption in bankruptcy?
I believe you home is safe as long as it is your homestead in a bankruptcy. You should consult a bankruptcy attorney to be safe.
How long should you keep bankruptcy paperwork?
Paperwork relating to the bankruptcy should be kept until at least the bankruptcy is off your credit report.
What questions are asked when a person files for bankruptcy?
A person should be absolutely truthful in everything they include in their bankruptcy petition. They should always keep in mind they are presenting evidence under oath. Any information that is given that is intentionally false or misleading can result in the dismissal with prejudice of the bankruptcy, and possibly other penalties. It is also a criminal offense,though criminal charges are seldom brought. The truth might be embarrassing, but it is the only safe and ethical option.
How long does a bankruptcy stay on a credit report?
Ten years from the date of discharge.
