sigs Rep Points:
505
Posted on
November 6, 2007
at
2:30 pm
My close friend filed for bankruptcy back in 1998 and its still on his credit . He says that it should come off within couple of years. Is it true that it stays on there for 10 years or more ?
Posted on
November 6, 2007
at
2:30 pm
It can even last longer than it should, it merely depends with the country your in. In filing bankruptcy, it takes a lot of effort to escape from the shadow of it.
Posted on
April 4, 2009
at
11:36 am
Yes it can stay even longer than that depending on the government laws and companies policies.
Posted on
April 7, 2009
at
4:09 am
I don't have any idea.. Well, when my uncle had declared that his business was already a bankrupt I don't think so that he filed something.. Actually, I really don't have any idea but even though he was bankrupt already, he still have invested another business which is almost the same with the previous one but he open in another places..
Posted on
May 6, 2009
at
2:08 pm
To clarify everyone's misconceptions surrounding personal bankruptcy- In the United States, Chapter 13 Bankruptcy stays on the debtor's credit report for 7 years. Chapter 7 Bankruptcy stays on the debtor's credit report for 10 years. I do not know about the bankruptcy policies of any country outside of the United States, but in this country, it has nothing to do with the creditor, company, or any other factor. It depends solely on the bankruptcy protection (I.e. Chapter) that the debtor files for.
