If I file bankruptcy will my credit report be cleared?

Not right away. Instead of open debts, you%26#039;ll find a big bankruptcy entry. The impact of this lessens as time passes after your case. It helps to pay off a secured debt like a car loan. Or perhaps a little credit card debt of a few hundred dollars that you pay like clockwork every month. After 3-5 years, it will be much better and after 8 years it will pretty much be all better. And after 10 years, if you have good credit, you%26#039;ll be better than new.

If I file bankruptcy will my credit report be cleared?

It will be ruined for 7 years straight. I wouldn%26#039;t declare bankruptcy unless you knew you could make money fast like an Actor or Professional Athelete. or Donald Trump

If I file bankruptcy will my credit report be cleared?

no bankruptcy is on your report for at least 7 years and you can%26#039;t get credit unless its with high interest rates.

If I file bankruptcy will my credit report be cleared?

No not until you build it back up. In about seven years.

If I file bankruptcy will my credit report be cleared?

No. The bankruptcy will be added to it; the judge will decide what debits to release and which ones you keep paying; and your credit is still your credit.

If I file bankruptcy will my credit report be cleared?

nope...

you%26#039;ll be hurtin...although in the long run if you%26#039;re deep enough in the hole, then bankruptcy is probably the better bet for long term recovery..

If I file bankruptcy will my credit report be cleared?

no but 1st...you cant file no more on credit cards and 2nd on your credit report it will state the date that you filed your bankruptcy and it will remain there for 7 yrs

If I file bankruptcy will my credit report be cleared?

No it will not clear it and after you do it the banckruptcy will be on there for 7 years.

If I file bankruptcy will my credit report be cleared?

It will be ruined for 10 years. It used to be 7. But, if your in financial dire straits, it can actually help you alot. You can start rebuilding your credit immediately and although the bankruptcy will still show and lots of creditors won%26#039;t help you, there are some who will after the first couple or so years. Besides, depending on your debt, it may take you that long or longer to pay it off, so there is a bright side to bankruptcy. Keep in mind that now its alot harder to get approved for it. Make sure you get the best lawyer in town, it will be well worth your money.

If I file bankruptcy will my credit report be cleared?

I thought it was 3 years, but may be wrong, You need to investigate this thoroughly if you are considering bankruptcy, it will eventually clear your credit score, if you %26#039;keep your nose clean%26#039; after that is.

For some it has helped them move forward in their life, for others it has caused more anguish.

Think carefully and research

If I file bankruptcy will my credit report be cleared?

bankruptcy will stay with u for 7 years.. it%26#039;s had to get any type of credit...

If I file bankruptcy will my credit report be cleared?

Cleared no. It will list all debts with the amount that was written off and state %26quot;discharged in Bankruptcy.%26quot; It will stay on your report for 10 yrs.

If I file bankruptcy will my credit report be cleared?

yes, but it also makes your credit report look bad for 10 years..

If I file bankruptcy will my credit report be cleared?

I have an uncle that filed bankruptcy and he received offers and even loans for new cars after filing. all his debts were wiped clean. how i don%26#039;t know. the rest of us in the family pay our bills. I believe his son followed suit and did the same thing. pretty crappy.