What happens if I declare bankruptcy?

When you file for bankruptcy, in most cases creditors will not able to run after your properties, what you own, deduct money from your bank and a lot more. Usually, most debts are canceled.

How Can I Remove A Bankruptcy From My Credit Report?

Review your credit report.
Dispute the inaccurate items listed on your report.
3. Send a letter to challenge the questionable item to the 3 bureaus
Ask the court/s how bankruptcy was verified.
Seek professional help.

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How Long Does Bankruptcy Stay on Your Credit Report?

Chapter 7


Up to 10 years

Chapter 13


Up to 7 years

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is also called liquidation bankruptcy. This is the most filed type of bankruptcy because it can be processed faster compared to chapter 13. Chapter 7 doesn't require you to be bound to a 3-5 year payment plan. Also, most, but not all debts get wiped out. The type of debt plays a big factor in knowing if it will be deleted due to bankruptcy or not. Examples of hard to remove debts are student loans, missing tax payments and child support.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is also known as the Wage Earner’s Bankruptcy. People who have a disposable income available to pay back most or all of your debts listed on the type of bankruptcy including the repayment plan. The repayment plan usually takes 3-5 years and is dependent on your means test which is one of the assessments you need to take when filing for bankruptcy.

Contact us today for a free personalized credit consultation to find out how we can help you through your fraud crisis so that you can move on to a financially stress-free future.