answersLogoWhite

0


Best Answer

If you are facing bankruptcy you likely have many questions in your mind. One of those is probably going to be how will this affect me financially. In the short term you will feel relief. However, as you work through the process and protection you will need to deal with the fact that your credit report will include the fact that you have filed for bankruptcy.

User Avatar

Wiki User

10y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How does bankruptcy affect individuals financially now and in the future?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

If you get married how will your credit reports and bankruptcy affect your future spouse's perfect credit?

Your credit follows you individually. If you have joint accounts then they appear on both of your credit reports.


What is future of CA?

Bankruptcy appears inevitable.


If you get married during bankruptcy will it affect your new spouse?

The only impact it might have would be relating to future joint financial transactions; for example applying for a mortgage or vehicle loan.


When is a country in the red financially?

When operating on a deficit and the future looks unpromising.


How did the battlefields and future battles affect the war?

The future does not affect the past. The past effects the future.


Would it be financially beneficial to you to borrow money to buy something now and repay it with future income?

When you know you will have an increased future income


How did the battlefields in future battles affect the war?

The future cannot affect the past.


How Might affect you in your future career?

If you have a future.


Can you cosign for a car if you are filing for bankruptcy in the future?

If you are filing for bankruptcy, and you try to cosign -- two things can happen. 1. the lender will turn you down. 2. If the court finds out you have applied for credit the bankruptcy can be stopped. If you mean that the car and loan will be for you during or after the bankruptcy, this still has to be disclosed and again the bankruptcy can be stopped.


Does pneumonia affect the patients future?

Most individuals recover from pneumonia. However, very elderly and/or immunocompromised patients sometimes succumb, despite antibiotic treatment, and die.


How do abortions affect the future?

You wont have a child, that's all. It does not affect future pregnancies or fertility.


Is chlamydia life-threatening and can it affect future fertility?

Chlamydia is not life-threatening. It can affect future fertility.