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What About Bankruptcy?
Most financial institutions will not look at
any credit application that you might submit until 3-5 years after a
bankruptcy. If any of your bills are paid late immediately following
your bankruptcy, it will eliminate you from any new credit
consideration.
Bankruptcy does not wipe out mortgages on property. The law
protects properly executed security agreements on automobiles and homes,
up to their value. Additionally,
- It does not wipe out claims for
alimony or child support.
- It does not wipe out most taxes.
- It does not wipe out
government-insured student loans (becoming payable in the past seven
years).
- It does not wipe out claims arising
from fraudulent representations to obtain funds, or from
willful injuries.
- It does not wipe out debts for
substantial purchases made shortly before the bankruptcy filing.
- If you file a bankruptcy; it may stay
on your credit report for up to ten years.
There are other alternatives
to bankruptcy than may provide the financial relief you seek. Click on
the link below and receive your free debt consolidation quote.
Get
a FREE Debt Consolidation Quote NOW Online
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