Bankrupcy Refinancing?????

Posted by J Kelly (141.152.248.252) on March 17, 2004 at 15:03:17:

In Reply to: Re: To file BK or not TX. posted by Prune Man on March 17, 2004 at 13:52:56:

Prune Man, why do you think that filing bk is refinancing. Chapter 13 is a sort of refinancing with a trustee's support. Takes power away from creditors. CHAPTER 7 does wipe out a debt, unless it is reaffirmed which would be the case if it is secured debt and the debtor wants to keep his house or vehicle. Bankrupcy stays on your credit report for 10 years, a long time, but it is possible to start to rebuild credit after about 2 years (so I have read).

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