50...........

Offically it's off my record, but it still comes up from time time to time. It came up when I purchased my house.

What changes did I make? Other than a bank card I paid off monthly, I have never owned a credit card since my bankruptcy and never will again.

Avoid it if possible..it will be a black mark on your history forever..try to get a debt consolidation loan if possible..usually you can make deals with the creditors..like offer 5k instead of 10 to clear up the debt..practically all will accept some sort of payment plan..something is better than nothing

good luck with it

HELLO!!!!!!!!!


TOASTED????

I need that 10k now!!! I'm not kidding. I don't earn enough to cover all of my expenses, so I need you to give me $10K!

Quit avoiding me. GIVE ME THE MONEY!!!

I will pay you back . . . and because you let me borrow money, I will pay you an interest rate on the principal.

Come on you fat greasy bastard . . . PAYPAL THE MONEY NOW!!!

I'm doing everything I can not to do it... I'm hoping I can make it just one more month...

That's not entirely true, as I know it. I'm told bankruptcies purge from all credit reports 7 years after date of closure.

You may have to specifically call around to all the credit companies and say "It's been 7 years, take that bankruptcy line item off my report", but it doesn't last *forever* IIRC.

I read an article in the Economist a few years back that basically equated a bankruptcy to a 'rite of passage' for anyone in business, with a couple people going so far as to say they'd feel nervous bringing an exec on board who hadn't had to deal with it 'cuz it'd be like tempting the fates. :winkwink:

Bankruptcy isn't the soul-crushing thing a lot of people make it out to be. Sometimes you get in over your head and noone wants to give you the slack to get out conventionally. Do the option, deal with the fallout, and move on with a clean slate.

Well, that is until the new bankruptcy regs came into play, anyways. Now people are pretty much going to be fucked in perpetuity, it seems... guess we'll see exactly how ugly that little piece of corporate fellatio works out for the little guy in the next decade or so.

thanks everyone for your replies

It's 10 years for Chapter 7 and 7 years after the final payoff of Chapter 13 (which is usually 3 years).

And again, every large $$$ application I've ever filled out asks if you have EVER filed bankruptcy. Lying on a banking document, esp with something like a mortgage or business loan, probably isn't a smart thing to do :2 cents: