Filing for Chapter 7 bankruptcy does have downsides, starting with the severe negative impact on a debtor’s credit score. The bankruptcy remains on the credit report for up to 10 years. The initial drop in the credit score can be substantial, affecting the debtor’s ability to make major p...
Foster Law Offices, LLC assists consmers with obtaining a fresh start through Chapter 7 Bankruptcy. Credit card debt, medical bills, loans? We can help.
If you already have a good credit score above 650 or so, then filing for bankruptcy can bring it down significantly in the short run. However, the notion that your credit will remain in pariah status for 7 to 10 years is a myth; only the fact you filed for bankruptcy remains on your...
Chapter 7 bankruptcy will wipe out unsecured debts such as credit card bills and medical bills. You are still on the hook for certain debts, such as tax debt, child support, alimony, and student loan debt. For student loan debt, you might be able to discharge that debt if you can prove...
Credit card debt. Medical bills. Past due rent. Past due utility bills Income taxes that are more than three years old. If the majority of your debt falls into any one of these categories, Chapter 7 bankruptcy will provide you the fresh start you need, and you will be relieved of these...
Q: I filed Chapter 7 bankruptcy and was discharged in 1995. Atthat time, I thought the...By DinnenSteve
In a chapter 7 case, the bankruptcy trustee gathers and sells the debtor’s nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor’s property may be subject to liens and ...
I finally chose to file a bankruptcy with them, and the experience was fast and painless. I wish i would have found them sooner so I didn't lose so many nights of sleep. The staff is wonderful as well, I would recommend to anyone needing a lawyer. Only wish I could give more than...
Filing for Chapter 7 bankruptcy can help you get a "clean slate" in your financial life, but it will stay on your credit report for 10 years.1 Alternate names:straight bankruptcy, liquidation bankruptcy How Chapter 7 Bankruptcy Works
For filers of Chapter 7, the bankruptcy can remain on your credit report for up to 10 years. For filers of Chapter 13 it can remain up to 7 years. But you can start rebuilding your credit and improving your score immediately after filing. One option is using a secured credit card. Thes...