You may find it difficult to qualify for credit cards again, but that is not a bad thing. :) However, you will probably be receiving credit card solicitations in the mail again right after bankruptcy. You should throw such mailings away, and if possible, keep only one active credit card, ever, for the rest of your life, which card you should apply for after your bankruptcy. You should be able to qualify for a "secured" credit card, e.g., through Capital One.

A bankruptcy judgment is listed on a debtor's credit report, usually replacing the several pages of creditor information listing the debtor's accounts as 'slow pay', 'no pay', 'delinquent', etc. See similar questions...

The credit agencies should pick up on the fact that you have been made bankrupt. This will make it extremely difficult for you to obtain credit. You will find that banks will only allow you to operate a credit account. See similar questions...

The proposal or bankruptcy may be included in the individual's personal credit rating and may be retained on file at the credit bureau for a number of years. A summary administration is a bankruptcy filing where the assets in the bankruptcy are expected to realize less than $10,000 excluding secured or exempt assets. See similar questions...

Unfortunately it will. However, most individuals are able to rebuild their credit within a few years. If you are currently contemplating bankruptcy, then it is likely that your current credit rating has already been effected. A discharge of your current debt may provide the opportunity to rebuild your credit with steady, regular payments on a new account. See similar questions...

It's impossible to say for certain. The only "rule" is that the bankruptcy can remain on your credit report for up to ten years. Beyond that, every creditor will have its own policy about loaning to someone with a previous bankruptcy. Your future ability to obtain credit will depend on the amount of your income, whether you've had any late payments or other credit problems since the bankruptcy, and how long it's been since the bankruptcy was filed. See similar questions...

Bankruptcy stays on your credit record for ten years. However, most people are able to obtain creditor shortly after they complete their bankruptcy and sometimes even while they are in bankruptcy. Generally, it is possible to get a good rate on a home mortgage two years after you file Chapter 7 bankruptcy, assuming you qualify in all other respects. If your credit is already bad, bankruptcy may improve it. See similar questions...

Most lenders will assign an "R" (for Revolving credit, such as a line of credit ) or "I" (for Installment loans) rating to each item in your credit report. For example, a rating of R0 means the particular item is too new to rate. A rating of R1 means you pay within 30 days of the due date - and a rating of R9 reflects a bad debt. See similar questions...

The credit rating of bonds represents the issuer's credit evaluation as rated by Standard & Poors and/or Moody's. A high rating (such as AAA) implies a small chance of default, while a poor rating (such as CCC) is a very risky investment. See similar questions...

There is no clear answer to this question. Each person's situation is unique and each lender has their own criteria for making a loan. Unfortunately, if you are behind on your bills, your credit may already be bad. Bankruptcy may not make things any worse. Occasionally, bankruptcy actually helps because once your old debts are wiped out, you are in a better position to pay new bills. The "sub-prime" market (for loans to people with lease than perfect credit) is very competitive. See similar questions...

The spaminess of any comment is mathematically computed taking into account all its features, and represents the relative likelihood that it is spam. Lower spaminess values indicate a lower chance of the comment being spam. High spaminess suggests a comment is very likely spam. See similar questions...

RCI does not rate resorts, however, our members do, and we track that information . We compile VEP scores for the sole purpose of matching resorts in quality for exchanges in our program. See similar questions...

We have tried to answer the most common questions about credit ratings. If you haven't found the answer you want here, please contact a credit specialist. See similar questions...

The whole process, once your case is filed, lasts 6 months; however, during that time you only do three things. One is to see me, one or two times; two, is to provide me some paperwork, such as pay stubs and tax returns; and three, is to attend the 3-minute meeting with the bankruptcy trustee. See similar questions...