the bigger the impact bankruptcy will have as a result. However, if you were alreadymissing your credit card paymentsor carrying high balances, your credit score may have already taken significant hits before filing and a bankruptcy may have less of an impact. ...
Re: Filing bankruptcy but not for credit card debt @julia18330 wrote: If a person files for bankruptcy to wipe out an old default civil judgment and doesn't do anything with current creditors, does that go on the credit reports and affect credit? Thanks Yes, a BK will show on y...
Well, it’s one of the most serious financial decisions you can make. Bankruptcy can seem like the only way out of a dire financial situation, and it may be. But bankruptcy won’t erase every type of debt, and it won’t solve all of your financial problems. Bankruptcy also has long-...
The article presents the views of the editorial staff on a question asked by a loan officer related to the effect of bankruptcy on the renewal of his Nationwide mortgage Licensing System (NMLS). One of the staff members presented his views by stating that NMLS has nothing to do with ...
Furthermore, if you apply for a government job (federal, state, or local), you cannot be denied employment for having had filed for bankruptcy. However, there are no such prohibitions on private employers, and if a private employer runs a credit or background check and learns that you hav...
Filing an income tax return after filing for bankruptcy does not have to be a problem, as long as you know what to watch out for, including when and how to file.
Future Financial Goals:Consider your future financial goals and how bankruptcy might affect them. If you plan to purchase a home, start a business, or make other significant financial investments, bankruptcy can hinder these plans by limiting your access to credit and financing. ...
Christopher Migliaccio is an attorney and a Co-Founding Partner of the law firm of Warren & Migliaccio, L.L.P. Chris is a native of New Jersey and landed in Texas after graduating from the Thomas M. Cooley School of Law in Lansing, Michigan. Chris has experience with personal bankruptcy,...
Bankruptcy helps people and businesses get a fresh start financially. Learn what filing for bankruptcy entails, as well as its benefits and disadvantages.
A Chapter 7 bankruptcy will remain on your credit reports for 10 years, while a Chapter 13 will remain for seven years. That can make it more expensive or even impossible to borrow money, such as for a mortgage or car loan, or obtain a credit card. It can also affect your insurance ...