How does filing under chapter 7 affect a persons credit rating?
It will usually worsen it, if that is possible. However, 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 again file under chapter 7. If there are compelling reasons for filing under chapter 7 that are not within the debtor s control (such as an illness or an injury), some credit rating agencies may take that into account in rating the debtor s credit after filing.
It may worsen it, if that is possible. However, 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 again file under chapter 7. If there are compelling reasons for filing under chapter 7 that are not within the debtor’s control (such as an illness or an injury), some credit rating agencies may take that into account in rating the debtor’s credit after filing.
In most situations, it will usually worsen it, if that is possible. However, some financial institutions openly solicit business from persons who have recently filed under Chapter 7, we believe because it will be at least six years before they can again file under Chapter 7. If there are compelling reasons for filing under Chapter 7 that are not within the debtor’s control (such as an illness or an injury), some credit grantors may take that into account in rating the debtor’s credit after filing. Most creditors will not advance credit (or additional credit) during the time between the filing of the petition and the discharge.
It will usually worsen it, if that is possible. However, 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 again file under chapter 7. If there are compelling reasons for filing under chapter 7 that are not within the debtor’s control (such as an illness or an injury), some credit rating agencies may take that into account in rating the debtor’s credit after filing.
It will usually worsen it, if that is possible. However, 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 again file under chapter 7. If there are compelling reasons for filing under chapter 7 that are not within the debtor’s control (such as an illness or an injury), some credit rating agencies may take that into account in rating the debtor’s credit after filing.
