Legal Question in Bankruptcy in Georgia

How will Chapter 7 effect my credit in the future

I am in the process of converting a chapter 13 to a chapter 7 because of some past financial difficulties.I would like to know how this will affect me in the future as far as buying a house and/or starting a business. Also how long will it take for me to rebuild my credit.


Asked on 7/12/99, 2:25 pm

1 Answer from Attorneys
Susan Freiman The Legal Clinic

Re: How will Chapter 7 affect my credit in the future

There is no definite answer to this question. Sorry. It depends on the creditor and the purpose. Some creditors will extend credit immediately after bankruptcy, knowing you will not be able to file again for a long time. For other purposes, the effect may be permanent.

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Answered on 7/25/99, 8:02 pm


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