How Do You Know The Negative Effects Of Bankruptcy?
Bankruptcy can help you to get rid of your debts or some of it and also pay your creditors as much money you owed from them but after your bankruptcy the effects are not good in your favor. Whatever bankruptcy Chapters you are filing, the effects are about the same in your credit report or credit score. You will have to wait up to 7 years or more just to take those in your credit report and also to really get rid of your debt if all of your debts are covered in your filing. You will find hard to get a loan no matter how small the amount. Buying a home or financing a new home would be so hard without co-signer or other proof of your income or savings or any collateral. Getting a new credit cards can also be frustrating even if the lowest limit it’s hard to maintain because the credit card companies will charge you with the highest interest and then annual fees just to keep your credit card. Building your credit report or credit score will take longer just like getting rid of your bankru
