Many people file bankruptcy because they think this would be the best and easiest solution to get out of debt. It is important to know that bankruptcy will appear on your credit report for several years. It will greatly affect your credit score.? The reality is in the immediate future yes you will not be able to buy a home but after 2 years you can buy a home anywhere as long as you have re-established your credit.? But its from the date of discharge not from the date you filed when you go out on the market and start shopping for homes in whether they be in the Lompoc real estate market, or just shopping for Santa Maria homes in the Santa Maria real estate market or really just anywhere.? But you have to have re-established your credit.
There are a lot of questions involved when filing bankruptcy including your current credit cards and your credit for purchasing another property. The money borrowed using a credit card should be included in your bankruptcy forms as a debt. These forms which are filed under perjury must be done with honesty because if fraud is detected, your bankruptcy will be discharged.
Committing perjury is a federal crime that must be avoided. Falsifying any of the documents for your bankruptcy case may fine you or put you into prison. If you don?t owe anything to your credit card company, then it won?t be necessary to list it. You can keep your cars, but the credit card company can cancel your account for precautionary measure.
Keep in mind that credit will still be available and used by individuals who filed bankruptcy, but you must be aware that you will end up paying higher interest rates.
For some, getting credit cards right away after bankruptcy is not a good idea since you might have financial troubles in the future. Credit repair scams must be avoided by making wise and careful decisions.
It is not true that you will not be able to obtain a home loan after 10 years if you file bankruptcy. In a matter of 2 years, you will be able to get a loan.? the 10 years is that it will appear on your credit report for that amount of time. Bankruptcy will be present on your credit report for quite some time, but most of the time, lenders will let you qualify for a loan if requirements are met.
the old curiosity shop jane russell meryl streep martin scorsese sacha baron cohen best picture nominees 2012 academy awards 2012
No comments:
Post a Comment