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At least to the degree that under the plan your essentially trying to make amends for past failures and get a handle on things, it shouldn't continue to decline. And things can't get too much worse than being a bankrupt. no matter what, with the history you now have, even better is going to be a bad credit score...and hence make borrowing too expensive for a reasonable person (even one that can afford it) to agree to pay.
But one thing you may be missing about the course your on...you need to maintain a pay as you go structure for sometime...you've shown you need to gain control and understanding of the obligations of debt and financial planning. Under C 13, you probably can't make any new loan agreements anyway...so your credit score is irrelevant and you really shouldn't concern yourself with it. You cannot borrow yourself out of debt....and you certainly can borrow yourself into a heap of trouble....quickly.
What else can I help you with?
What could possibly be forgiven under chapter 7 bankruptcy?
credit card debt
How long does a chapter 13 conversion to a chapter 7 stay on your credit report in Wisconsin?
A chapter 7 bankruptcy filing remains on your credit report for 10 years. Chapter 13 bankruptcy remains for seven years. Under chapter 13 bankruptcy you repay at least a portion of the debt, so it is removed a little sooner.
How long will a dismissed bankruptcy stay on your credit?
:A bankruptcy under chapter 7 or 11, or a non-discharged or dismissed chapter 13 bankruptcy generally remains on your credit file for 10 years from the date filed. A discharged chapter 13 bankruptcy generally remains on your credit file for 7 years from the date filed.
Under the old chapter 7 rules how long does a bankruptcy stay on your credit report?
Ten years.
Can you protect a structured settlement in a chapter 7 bankruptcy?
Yes you can protect it under chapter 7 bankruptcy
If you file bankruptcy?
What happens if you file bankruptcy differs depending on what chapter of bankruptcy you or your business decides to file under. The most common form of bankruptcy for the individual is Chapter 7. Under Chapter 7 bankruptcy, the banks may liquidate property and assets-except things that are explicitly protected. After this, most debts are forgiven-but not all, as certain debts do not qualify. Your credit score will then be severely damaged by the filing, but you will be free to slowly bring it back up as you will not be suffocated by debt. The article below goes into further detail on the process of bankruptcy.
Can you file parking tickets under a chapter 7 bankruptcy?
Parking tickets cannot be discharged under Chapter 7 bankruptcy. They can, however, be discharged under Chapter 13 bankruptcy. Chapter 7 bankruptcy is known as "liquidation" bankruptcy. This generally means that all of a debtor's non-exempt property may be sold by a bankruptcy trustee, though the laws for property exemption are different in each state. For example, in New York, most debtors are able to keep all of their property. Chapter 13 bankruptcy is a 'reorganization of debts', and allows the individual to keep their property and income while paying off all or part of their debt over a three to five year period. In the case of a Chapter 13 bankruptcy filing, the parking tickets can be considered "unsecured" debts (similar to credit cards and medical bills), and can thus be treated as such for repayment.
If you incur a debt on credit card after you file chapter 13 and are still under the bankruptcy can that credit card company do anything legal to collect your debt?
Declaring bankruptcy does not allow you to go out and spend money without having to pay it back. Yes, the debt is not covered by the Chapter 13 filing, so they can do what they can to collect the new debt.
Can you declare bankruptcy now that your first bankruptcy is discharged?
It depends on the chapter you filed under. If you filed under Chapter 7, you have to wait 8 years before filing again. If you filed under Chapter 13, you only have to wait four years.
Which bankruptcy chapter was most affected by the change in bankruptcy laws in 2005?
The most significant change to the 1978 statute concerns consumer bankruptcy under the Chapter 7 liquidation provisions.
Can you apply for federal student loans while under chapter 13?
Yes, you can apply for federal student loans while under Chapter 13 bankruptcy. Filing for Chapter 13 does not affect your eligibility for federal student aid, as the loans are not considered income. However, it's important to ensure that your repayment plan is manageable alongside any new student loans you may take on. Always consult with a financial advisor or bankruptcy attorney for personalized guidance.
If You Filed chapter 7 in 2002 can i refile?
Under the new Bankruptcy laws you must now wait 8 years before filing another Chapter & or Total Bankruptcy as it is better know. You may be eligible to file if eligible a Chapter 13 to structure repayment to those creditors.
