Legal Question in Bankruptcy in Virginia

the affects of chapter 7 filing

what are the long term affects of filing chapter 7 in the 10 years it remains on your credit record.What can creditors do with this info and what cant they do?


Asked on 4/18/02, 6:45 pm

1 Answer from Attorneys
Olivier Long Law Office of Olivier Denier Long

Re: the affects of chapter 7 filing

Creditors may use the information in the same way they use anything else on your credit report. They may use it to determine your credit-worthiness. Many creditors have a system applying a mathematical formula to determine how likely you are to make payments on time or default on an obligation.

Read more
Answered on 4/20/02, 7:35 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Virginia