Comments for Bankruptcy Blog http://www.BankruptcyQA.com/blog Personal Bankruptcy, Company Reorganization and Debt Settlement Sun, 05 Sep 2010 18:42:56 +0000 http://wordpress.org/?v=2.7 hourly 1 Comment on what is chapter 7 bankruptcy and how is it different from the others? by Bob http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/318/what-is-chapter-7-bankruptcy-and-how-is-it-different-from-the-others/comment-page-1/#comment-456 Bob Mon, 28 Dec 2009 03:24:03 +0000 http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/318/what-is-chapter-7-bankruptcy-and-how-is-it-different-from-the-others/#comment-456 Every chapter has pros and cons, it depends on you which suits you and which you can file. ..DIY4LAW.COM Every chapter has pros and cons, it depends on you which suits you and which you can file. ..DIY4LAW.COM

]]> Comment on How long after bankruptcy can my credit be good enough to get an apartment or a loan for a home? by Melanie http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/294/how-long-after-bankruptcy-can-my-credit-be-good-enough-to-get-an-apartment-or-a-loan-for-a-home/comment-page-1/#comment-454 Melanie Sun, 24 May 2009 22:28:23 +0000 http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/294/how-long-after-bankruptcy-can-my-credit-be-good-enough-to-get-an-apartment-or-a-loan-for-a-home/#comment-454 Bankruptcy sucks, but sometimes it's neccesary! I started getting car & credit card offers before discharging! However, I am now 5 months out of it & looking at a car loan @ 18% interest!! We also need to move, that's how I found this discussion. I am hoping that a private owner will more easily rent us a house than a realtor or leasing company will rent us an apartment! Good Luck! Bankruptcy sucks, but sometimes it’s neccesary! I started getting car & credit card offers before discharging! However, I am now 5 months out of it & looking at a car loan @ 18% interest!! We also need to move, that’s how I found this discussion. I am hoping that a private owner will more easily rent us a house than a realtor or leasing company will rent us an apartment! Good Luck!

]]> Comment on Could my wife be affected if i declare bankruptcy? by Mama Pastafarian http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/197/could-my-wife-be-affected-if-i-declare-bankruptcy/comment-page-1/#comment-203 Mama Pastafarian Sat, 09 May 2009 09:09:39 +0000 http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/197/could-my-wife-be-affected-if-i-declare-bankruptcy/#comment-203 Bankruptcy Feedback: Are any of the debts (that you will include in your BK) joint with your wife? They will go after her for the money. Also, if you live in a community property state, they will go after her for all the accounts. In your petition for BK, you will have to include her income. This could affect whether you can file chapter 7 or chapter 13. Bankruptcy Feedback: Are any of the debts (that you will include in your BK) joint with your wife? They will go after her for the money. Also, if you live in a community property state, they will go after her for all the accounts.

In your petition for BK, you will have to include her income. This could affect whether you can file chapter 7 or chapter 13.

]]> Comment on Could my wife be affected if i declare bankruptcy? by jannie http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/197/could-my-wife-be-affected-if-i-declare-bankruptcy/comment-page-1/#comment-202 jannie Thu, 07 May 2009 14:10:36 +0000 http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/197/could-my-wife-be-affected-if-i-declare-bankruptcy/#comment-202 Bankruptcy Feedback: I asume your wife has signed for these loans too therefore she will still be responsible for her half of the bills and if she don't pay she will have a poor rating Bankruptcy Feedback: I asume your wife has signed for these loans too
therefore she will still be responsible for her half of the bills and if she don’t pay she will have a poor rating

]]> Comment on Could my wife be affected if i declare bankruptcy? by Studly http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/197/could-my-wife-be-affected-if-i-declare-bankruptcy/comment-page-1/#comment-201 Studly Tue, 05 May 2009 23:23:47 +0000 http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/197/could-my-wife-be-affected-if-i-declare-bankruptcy/#comment-201 Bankruptcy Feedback: If you file for bankruptcy, it does NOT effect your wife's credit history. Each person has their own history. But it does effect your family. Any joint accounts she will be responsible to pay. Any property liquidated she loses also. I would need a lot more information about your situation before we know what effect there will be. What property do you own? How much income? How much debt? What state do you live in? Bankruptcy Feedback: If you file for bankruptcy, it does NOT effect your wife’s credit history. Each person has their own history.

But it does effect your family. Any joint accounts she will be responsible to pay. Any property liquidated she loses also.

I would need a lot more information about your situation before we know what effect there will be. What property do you own? How much income? How much debt? What state do you live in?

]]> Comment on Could my wife be affected if i declare bankruptcy? by mkostelnik@sbcglobal.net http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/197/could-my-wife-be-affected-if-i-declare-bankruptcy/comment-page-1/#comment-200 mkostelnik@sbcglobal.net Sat, 02 May 2009 14:38:35 +0000 http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/197/could-my-wife-be-affected-if-i-declare-bankruptcy/#comment-200 Bankruptcy Feedback: Yes. anything she is a signer on will become her complete responsibility. Not to mention the stress it will put on your family. Check out Dave Ramsey, he is a financial counselor and has his own website. His radio show helps with these issues. Bankruptcy Feedback: Yes. anything she is a signer on will become her complete responsibility. Not to mention the stress it will put on your family. Check out Dave Ramsey, he is a financial counselor and has his own website. His radio show helps with these issues.

]]> Comment on How long after bankruptcy can my credit be good enough to get an apartment or a loan for a home? by lovemy2babies http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/294/how-long-after-bankruptcy-can-my-credit-be-good-enough-to-get-an-apartment-or-a-loan-for-a-home/comment-page-1/#comment-402 lovemy2babies Sat, 02 May 2009 09:43:19 +0000 http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/294/how-long-after-bankruptcy-can-my-credit-be-good-enough-to-get-an-apartment-or-a-loan-for-a-home/#comment-402 Bankruptcy Feedback: In Alabama its 2 years. Good luck!! I feel your pain. Bankruptcy Feedback: In Alabama its 2 years. Good luck!! I feel your pain.

]]> Comment on Could my wife be affected if i declare bankruptcy? by Man of Joy http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/197/could-my-wife-be-affected-if-i-declare-bankruptcy/comment-page-1/#comment-199 Man of Joy Sat, 02 May 2009 00:14:19 +0000 http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/197/could-my-wife-be-affected-if-i-declare-bankruptcy/#comment-199 Bankruptcy Feedback: Think your self, you only come with the right answer(s). Bankruptcy Feedback: Think your self, you only come with the right answer(s).

]]> Comment on Can I avoid bankruptcy on my rental apartments? by Alicia http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/187/can-i-avoid-bankruptcy-on-my-rental-apartments/comment-page-1/#comment-168 Alicia Fri, 01 May 2009 16:24:41 +0000 http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/187/can-i-avoid-bankruptcy-on-my-rental-apartments/#comment-168 Bankruptcy Feedback: you "quit" when you die. Until then, you still owe the bank money and they have to get it somehow. If you are foreclosed on, then this will hurt your credit. if you still have money left that you owe the bank after foreclosure, then they will go after your personal assets, like your house, bank accounts, etc. You may have thought you were smart by incorporating your business, but did the bank ask YOU to be a cosigner for your business on the loan? If so, you're screwed. Bankruptcy Feedback: you “quit” when you die. Until then, you still owe the bank money and they have to get it somehow. If you are foreclosed on, then this will hurt your credit. if you still have money left that you owe the bank after foreclosure, then they will go after your personal assets, like your house, bank accounts, etc. You may have thought you were smart by incorporating your business, but did the bank ask YOU to be a cosigner for your business on the loan? If so, you’re screwed.

]]> Comment on If a bankruptcy is discharged is that good or bad for your credit rating? by bige1083 http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/268/if-a-bankruptcy-is-discharged-is-that-good-or-bad-for-your-credit-rating/comment-page-1/#comment-348 bige1083 Thu, 30 Apr 2009 21:51:57 +0000 http://www.BankruptcyQA.com/blog/more-bankruptcy-answers/268/if-a-bankruptcy-is-discharged-is-that-good-or-bad-for-your-credit-rating/#comment-348 Bankruptcy Feedback: In and of itself, it's bad for your credit rating. However, the discharge is what freed you of most (or all) of your debts when the bankruptcy was finished. What happens to your credit next is up to you. Don't overextend yourself, charge no more than 25% of your credit limit, and pay your bills on time, every time to re-establish your credit. It is interesting that you said that you filed in 1998, and only recently, the discharge appeared on your credit report. It should have appeared shortly after its issuance. I hope that wasn't holding you back from re-establishing your credit. The incredibly bad bankruptcy events to have on your credit report are dismissal and denial of discharge. Dismissal means the case was thrown out, and your debts are still intact. Denial of discharge means that the court decided that you had done something so bad that it was unwilling to free you from your debts - and thus you are forever barred from bankrupting them. Discharge means that you are pretty much debt-free, and you can rebuild your credit from there. Bankruptcy Feedback: In and of itself, it’s bad for your credit rating. However, the discharge is what freed you of most (or all) of your debts when the bankruptcy was finished. What happens to your credit next is up to you. Don’t overextend yourself, charge no more than 25% of your credit limit, and pay your bills on time, every time to re-establish your credit.

It is interesting that you said that you filed in 1998, and only recently, the discharge appeared on your credit report. It should have appeared shortly after its issuance. I hope that wasn’t holding you back from re-establishing your credit.

The incredibly bad bankruptcy events to have on your credit report are dismissal and denial of discharge. Dismissal means the case was thrown out, and your debts are still intact. Denial of discharge means that the court decided that you had done something so bad that it was unwilling to free you from your debts - and thus you are forever barred from bankrupting them.

Discharge means that you are pretty much debt-free, and you can rebuild your credit from there.

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