Posted by Scarlett Lu
BANKRUPTCY IS A BIG step — one that will follow you around for seven to 10 years, depending on the route you take. And the requirements have become much stricter thatn they were a few years ago, thanks to changes in bankruptcy law.
Here are answers to the 10 most frequently asked questions about bankruptcy.
- The Basics
- What is the difference between Chapter 7 and Chapter 13?
- Is Chapter 7 bankruptcy right for me?
- When does Chapter 13 make sense?
- Can I choose the type of bankruptcy I file?
- Do I have to go through credit counseling before I file?
- Under Chapter 7, are there any restrictions on the kind of debts that can be discharged?
- Can I choose not to discharge certain debts in Chapter 7?
- What happens to my credit after bankruptcy?
- How do I rebuild my credit?
- How soon can I consider larger loans, like a mortgage?