Avoid Bankruptcy Fraud

Chapter 7 Bankruptcy, which is total bankruptcy, stays on your credit report for 10 years. Chapter 13 Bankruptcy, more like a payment plan, stays on your credit report for seven years. Bankruptcy, however, is for life. Loan applications and many job applications ask if you have ever filed for bankruptcy.. Therefore, Avoid Bankruptcy at all cost!

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Before you file for bankruptcy, it is important to realize that all bankruptcy proceedings will be listed in public bankruptcy records. Therefore, if you have filed for bankruptcy, it is possible for anybody - including future employers or creditors - to easily look up your bankruptcy record while trying to discover your financial history. This can be very annoying in the future, and might make it harder for you to get credit that you need. Another result of this is that there is really no point in neglecting to mention that you have had to file
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Traditionally people who have been through bankruptcy have experienced problems in obtaining a mortgage but in recent years this has all changed and now there are more bankruptcy mortgage lenders than ever. Bankruptcy Mortgages The impossibility of getting a mortgage after bankruptcy would appear to be a thing of the past. There are now a plethora of bankruptcy mortgage lenders on the market. Many people view bankruptcy as a fresh start only to find that it is just the beginning of their troubles. Getting any kind of loan or mortgage after bankruptcy can be a real headache. Even after being discharged as a bankrupt, after the usual three year period, you may
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