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Frequently Asked Questions
What effects does bankruptcy have on someone for the rest of their life? - Someone I know is filing for bankruptcy. I was wondering if there were any effects that bankruptcy would have on her as far as credit. Does bankruptcy go on any kind of personal record? I'm just wondering if she'll always have to worry that filing bankruptcy will effect her credit permanently or any other issues throughout her life?
How long after I file bankruptcy can my divorce be finalized? - How long after I and my soon to be ex-wife file the chapter 7 bankruptcy can i finalize my divorce from her? We both agree to the bankruptcy and the divorce, so can we get the divorce done before the Bankruptcy is 100% finalized?
How does Bankruptcy work if you are married? - Wondering how bankruptcy works if you are married. Say if one has awful credit, and the other has really good credit. The one needs to file for bankruptcy. Will the bankruptcy affect the other spouse? Or can the one do it alone without affecting the spouse at all? Any info or sites to look at would be appreciated. THANKS!
What is the difference between Bankruptcy and Bankruptcy Protection that I hear in the news recently? - In recent news, companies could be forced to Bankruptcy. Is this the same as "companies can be forced into Bankruptcy Protection"? I thought Bankruptcy protection is "PROTECTION" against Bankruptcy?
If a bankruptcy is discharged is that good or bad for your credit rating? - I filed for bankruptcy in 1998. Recently in my credit report there was a public notice saying it was discharged.
How does bankruptcy effect ones ability to get student loans? - I know you can't usually include student loans in a bankruptcy, but what if a person files for chapter 7 and then wants to go back to school? Will they be able to get loans for school?
What happens when you file bankruptcy nowadays? - I hear it is very hard to file for the type of bankruptcy where they abolish all of your debt. However, what about the type of bankruptcy where you pay back some of your debt? If you file this type of bankruptcy, will you definitely get accepted, even if you make a high income? How much of your debt do they make you pay back and in what timeframe? How much does it cost to file for bankrutpcy nowadays? Do you have to pay a lawyer up front? Does a lawyer guarantee you will be accepted for filing bankruptcy? THANKS!
Is this a valid way to remove a bankruptcy from your credit report? - I have heard this is a good way to remove a BK. See below. Has anyone tried this? Unlike other negative information which stays on your credit report for 7 years, bankruptcy can be reported for up to 10 years. Bankruptcy courts keep cases active for a period of two years before placing them on microfiche. If your Chapter 7 bankruptcy has aged at least 27 months since the date of discharge, your in a great position to make it disappear forever, simply file disputes with the credit bureaus indicating that your bankruptcy was a Chapter 13 and not a Chapter 7. You need not provide any documentation to support your dispute, the burden of proof is on the government. Bankruptcy courts do not respond to requests for verification on cases which has been archived to microfiche, as a result the credit bureaus are required to remove the bankruptcy from your credit report.
How would the bankruptcy of Chrysler affect its car sales? - Would dealer's sell Chrysler for more money? Less money? Or would the bankruptcy not affect sales at all?
How do you process a Ch. 7 bankruptcy without a 60 day counselling , due to no income to counsel about? - I am researching bankruptcy via WIKI HOW, but am confused about processing it without the counseling of a credit counselor. I have had no income to counsel about. Can anyone with bankruptcy legal experience explain this (in the USA). Dark Green Money: If I was a horse in AZ , I would hide in the barn on Sunday and go out on Monday, although it does get very hot there.