Married couples can file for bankruptcy jointly or individually. Joint filing can streamline the process and potentially save on fees. Our legal team can guide you through the best approach for your situation.
FAQ Tag: Credit Reporting & Credit Repair
Will bankruptcy affect my spouse’s credit?
If you file for bankruptcy individually, it generally won’t directly impact your spouse’s credit score. However, any joint debts included in the bankruptcy will affect both of your credit reports.
Can I rent an apartment after bankruptcy?
Yes, you can rent an apartment after bankruptcy. While landlords may consider your credit history, having a stable income and positive rental references can help secure a lease.
Can I get a mortgage after bankruptcy?
Yes, you can get a mortgage after bankruptcy. While it may be more challenging initially, several loan programs cater to borrowers with past bankruptcies. The waiting period varies depending on the loan type and your creditworthiness.
What happens to credit with bankruptcy?
Bankruptcy will negatively impact your credit score, but it’s a chance to rebuild. Our team can guide you through credit repair strategies after bankruptcy.
How long does bankruptcy stay on my credit report?
A Chapter 7 bankruptcy typically stays on your credit report for 10 years, while a Chapter 13 bankruptcy remains for 7 years. However, the impact on your credit score diminishes over time, and rebuilding credit is possible.