They are different things..and in either case, they would indicate someone who was not responsible for their actions, failed to maintain their contracted promises....and may have continuing problems. Explain them as best you can...for example if it was brought on by an unexpected medical emergency, that has passed....and you have taken the steps needed to assure it won't happen again.
When one is declaring bankruptcy, they should use a lawyer familiar with bankruptcy. There are different types of bankruptcy to consider, such as liquidation or cancelling your debts, or reorganizing for wage earners who can still make debt payments.
The use of a corporate bankruptcy attorney is to assist in the legal proceeding of filing for bankruptcy for a corporation. An attorney is necessary to make sure the process goes smoothly and everything is taken care of.
No!
His resilience kept him out of bankruptcy.
Sometimes credit card charges are not included in bankruptcy. If they are then you will no longer be able to use them.
If you are on the brink of bankruptcy... you probably can't get a credit card. Opps... didn't read that right. Sorry. I really don't know.
There are letters that attorneys use to notify creditors of a debtors bankruptcy. This letter states that the individuals have filed bankruptcy and the creditors are to cease all contact and attempts to collect their debt.
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YES! It will lower your FICO score a lot!!
2 years, but a trustee might be able to use the state "look back" period where the bankruptcy court is located.
Some factors which lead to the Bankruptcy.1. Due to job loss unemployed.2. Poor/Excess Use of Credit3. Unexpected Expenses4. Medical Expenses