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Credit rating after Ch 7 BK
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Posted by Glenn
(216.84.5.150) on July 14, 2004 at 12:41:58:
My wife and I are considering filing Ch 7 BK. Most of our debt is CC and some personal loans, with a total now of about $43,000 (with all of the late fees and interest and over limit fees). It has been over two years since we paid on any of the debts, and our score is around a 440. Most of the accounts have been charged off and sold to CA's. Is filing BK going to help our cause, and what should we expect as far as our credit rating afterwards? I have been told that it might actually go up. We do not own any property or have any other assets so to speak. We live in Florida.
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