The opinion is still wide spread that bankruptcy is a dooming choice that will haunt you years after you file. In all actuality you are not doomed forever more but are instead under a watchful eye from creditors for up to ten years from filing a chapter 7 claim and seven years from a chapter 13 claim.
Though your bankruptcy is in-fact public record and does remain on your credit report for a set time period this does not mean you are doomed when it comes to credit. You will see that offers for credit cards as well as loans will be sent to you shortly after you file bankruptcy. The key is to understand the consequences of accepting said loans or credit cards with the awareness or the ability or inability to make payments.
There are good and bad aspects associated with the filing of bankruptcy. Some positive aspects to consider are as follows:
0 Rids unsecured debt
0 Stops foreclosure
0 Stops repossession
0 Stops garnishments
0 Stops utility shut off
Some of the negative aspects that you should keep in focus include difficulty in the following areas:
0 Acquiring credit
0 Buying a home
0 Getting life insurance
0 Job hire
You should also be aware that payments towards child […]

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