Comments on: Be Familiar With Bankruptcy, Know The Things Behind It http://www.newhorizon.org/credit-info/be-familiar-with-bankruptcy-know-the-things-behind-it/ Information to help you improve your credit Fri, 13 Jan 2012 21:51:41 +0000 hourly 1 http://wordpress.org/?v= By: Jamie94 http://www.newhorizon.org/credit-info/be-familiar-with-bankruptcy-know-the-things-behind-it/comment-page-1/#comment-102 Jamie94 Thu, 01 Jan 1970 00:00:00 +0000 #comment-102 Chapter 7 wipes out all debt you have, but is harder to file for now. It is based upon income. If the court deems you have enough income to make a payment structure, you may be eliminated from filing chapter 7. A Co-worker of mine tried to file Chapter 7 and was denied because they said he made plenty to cover his debts. Chapter 13 is kind of like a re-structure, where they just get your bills reduced and you still have to pay them. The new Bankruptcy laws have made it harder for people to just file Bankruptcy Chapter 7 wipes out all debt you have, but is harder to file for now. It is based upon income. If the court deems you have enough income to make a payment structure, you may be eliminated from filing chapter 7. A Co-worker of mine tried to file Chapter 7 and was denied because they said he made plenty to cover his debts.

Chapter 13 is kind of like a re-structure, where they just get your bills reduced and you still have to pay them.

The new Bankruptcy laws have made it harder for people to just file Bankruptcy

]]> By: Angeles http://www.newhorizon.org/credit-info/be-familiar-with-bankruptcy-know-the-things-behind-it/comment-page-1/#comment-146 Angeles Thu, 01 Jan 1970 00:00:00 +0000 #comment-146 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? 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?

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