If someone goes bankrupt. Can they just file some of their credit cards and not all? Can they still build up their credit? How long does it stay on your credit report?
2 Answers from Attorneys
You are required to disclose all creditors.
Bankruptcy may stay on your credit report for 10 years.
However, you can rebuild your credit in 1 to 2 years. For example, you could use a secured card [as opposed to an unsecured credit card] to buy things such as your groceries, then pay the bill on time every month to rebuild your credit.
You are required to list all of your creditors, but if you through your attorney and the creditor agree that they should not be bankrupted they can be taken out of the bankruptcy by a re-affirmation agreement. http://www.absolutebankruptcy.org (San Diego) http://www.abc27talkback.com (San Francisco)
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