- The bankruptcy stays on your report for 10-years;
- You can start rebuilding your credit once the bankruptcy is complete.
Recent Posts by ryczeklawoffice
What are the general reasons why people file for bankruptcy? by Menomonee Falls, WI Bankruptcy Attorney.
In my practice, we see a few “general reasons” why clients have the need to file for bankruptcy.
- Divorce. When clients get divorced, they often face financial burdens that were not present while they were married. For example, obtaining health insurance when their spouse usually carried it, child support or maintenance payments, child care expenses, maintaining a household on one income (vs. two when married), and...
- Social security disability income (SSDI) is not considered income for the purposes of the “means test.” Meaning, SSDI will not be considered if you are considering a Ch. 7.
- Private disability income (AFLAC, etc.) is considered income, and depending on how much you receive, you may or may not qualify for a Ch. 7 bankruptcy.
Recent Comments by ryczeklawoffice
No comments by ryczeklawoffice yet.