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Personal Finance and Investing

SheilaT

(23,156 posts)

4. A very long time ago a bankruptcy meant you

Reply to SHRED (Original post)

Sat Jun 20, 2015, 09:16 AM

Jun 2015

couldn't borrow money for a long time. Then all the banks and credit card companies figured out that if the previous debt had been wiped out, you now had the means to pay for new debt. The most the new creditor knows is how much debt was wiped out in the bankruptcy, and probably not even that. All they see is someone with a certain income and no debt.

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Filing for bankruptcy [View all] SHRED Mar 2015 OP

I don't know the details, as to 'how was this debt absorbed,' elleng Mar 2015 #1

The way I understand it, it's a "Write Down" A HERETIC I AM Mar 2015 #2

Message auto-removed Name removed Jun 2015 #3

A very long time ago a bankruptcy meant you SheilaT Jun 2015 #4