Bankruptcy Chapter doesnt necessarily ruin your credit

Many hapless borrowers are talked into ill-fated debt management repayment plans including Chapter 13 bankruptcy. They are told that bankruptcy (Chapter 7 liquidation) will ruin their credit. It stays in the credit file for 10 years. In response, these troubled debtors quake with the fear of stigma and the thought of becoming a credit leper.

While it is true that both Chapter 13 (debt repayment) and Chapter 7 (liquidation) show up in your credit report for 10 years, it does not follow that Chapter 7 bankruptcy ruins your credit for 10 years, or even 2 years.

Credit Card Management Philosophy

Credit Card Management Philosophy

Everything You Need To Know To Ramp Up Your Life And Be A Success With Managing Your Credit Cards. This Book Is One Of The Most Valuable Resources In The World When It Comes To Getting Serious Results In Learning How To Manage Your Credit Cards.

Get My Free Ebook


Post a comment