Category Archives: Bankruptcy
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When you file for bankruptcy, it is reflected on your credit reports almost immediately because the credit bureaus are regularly monitoring the bankruptcy court filings. The credit bureau then shows the bankruptcy, under the public records section of your report, for 7-10 years from the filing date depending on the chapter filed. While the bankruptcy… Read More »
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Once a Chapter 7 bankruptcy is filed, all collection efforts and activities must stop because of the bankruptcy’s automatic stay. But, it’s important to know that the Chapter 7 automatic stay does not extend to your cosigners. Therefore, your creditors are free to pursue them in an effort to collect the debt. Fortunately, if you… Read More »
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Many people who seek and eventually file bankruptcy often have thought about filing long before they actually go through with it. Debts and creditor calls continue to pile on and they realize they have no other options. This delay can lead to some creditors being overlooked and not listed at all when their bankruptcy petition… Read More »