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How does filing a chapter 7 case affect a person’s credit rating?

April 26, 2017affect Case chapter 7 Credit rating filing person

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How does filing a chapter 7 case affect a person’s credit rating?

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Some financial institutions openly solicit business from persons who have recently filed under chapter 7, apparently because it will be at least six years before they can file another chapter 7 case. If there are compelling reasons for filing a chapter 7 case that are not within the debtor’s control (such as illness or an injury), some credit rating agencies will take that into account in rating the debtor’s credit after filing.