How does filing Bankruptcy Affect Your Life?

Jump to Last Post 1-9 of 9 discussions (9 posts)
  1. wordsscriber profile image60
    wordsscriberposted 7 years ago

    How does filing Bankruptcy Affect Your Life?

  2. EatLovePray profile image56
    EatLovePrayposted 7 years ago

    Well, in some countries you can't get a loan from any bank for the next 7 years when you file for bankruptcy.

  3. Sweetsusieg profile image83
    Sweetsusiegposted 7 years ago

    It affects many aspects of your life.  Years ago when you filed  bankruptcy your credit was golden after wards. 

    Now you pay higher interest on loans such as cars a homes.  So in effect you get deeper into debt faster.  The credit companies know that you can't file for another 10 years so they have you by the 'short curlies'...  Not a good scenario at all.

  4. profile image0
    edueckposted 7 years ago

    Bankruptcy has a big affect on any credit that you may have.
    There are good points and bad points.
    If there is a different way out then it is better to take it, like refinance your debt and then pay it of the fastest way you can.
    Either way you will have to deal with  this one way or an other.

    The things to remember are what you need.
    SHELTER  You need a place to live.
    FOOD         You need to eat.
    HYDRO        You need to keep the light on
    PHONE      You need a cheap phone line for emergency
    TRANSPORTATION. and you need to get to work.

    These 5 are the most important.

  5. wordsscriber profile image60
    wordsscriberposted 7 years ago

    this can have a serious affect on your life.  Thanks for the info.

  6. ez-lease profile image58
    ez-leaseposted 7 years ago

    The Apartment complexes are at full capacity so they are very picky when you fill out a credit application. It’s  not just foreclosures, but broken leases, evictions, and just bad credit are all effecting  everyone from getting into a nice community.. We have seen clients that were denied from situations that happened over 5years ago. Our Company is designed to give everyone a second chance despite past: Broken Leases, Foreclosures, and Bankruptcies. We are a rental guarantee service. To qualify you must have a job. Once you are signed up each and every month we report to the credit bureaus to help re-establish their credit. We also have a credit repair company that will take it even further. If no one sets up a program to help then folks will never ever get out of this situation. We have seen that when you have bad credit you’re limited to where you are allowed to live with your family. With our service you can live where you want not where you have to.  You can go to www.ez-lease.net. The economy has effected allot of customers but this is a way to help them get their lives in order again. "You can have everything in life that you want if you just give enough other people what they want."
    — Zig Ziglar

  7. ForeclosureDJens profile image57
    ForeclosureDJensposted 7 years ago

    What type of bankruptcy are you speaking about? Typically it is either Chapter 13 or Chapter 7.

    This question warrants a lot of answers. The most significant affects of bankruptcy are:

    1. Negative impact on credit history (reporting remains for 7-10 years)
    2. You must wait approximately 5-7 years before you can purchase another home (depending on the lender)

    Both points affect you severely since any time your credit is run they will see a bankruptcy on your history and many companies have rules about lending - even setting up accounts - to people that have filed bankruptcy.

    The better question to ask is WHY would you need to file bankruptcy? What are your reasons? Before considering this option, you need to seriously sit down with a bankruptcy attorney and weigh your options. Bankruptcy severely affects you for several years and you need to have all the information you can to make the best, and most informed, decision.

    Hope that helps!

  8. PeterinCanada profile image53
    PeterinCanadaposted 7 years ago

    Bankruptcy may also affect your ability to lease rental property and find employment. Employers are able to ask if you have ever filed for bankruptcy before. Even if it has been a long time since your bankruptcy, you must disclose this information or risk having your employment terminated for lying about your background. Rental property owners may also check your credit history before offering you a lease. Many rental property owners are not willing to provide housing to individuals with a bankruptcy on their record.

  9. profile image48
    jackdohsonposted 6 years ago

    Once you have been made bankrupt all assets belonging to you come under the control of the Trustee, including your home.

    Visit http://www.bankruptcy-insolvency.co.uk/ … ruptcy.php for more detailed information.

 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)