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Ughhh...foreclosure
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<blockquote data-quote="DazedandConfused" data-source="post: 319165" data-attributes="member: 831"><p>As far as I know Chapter 7 bankruptcy is the worse and stays on your credit record for ten years. Foreclosure stays on your record for seven years. You do not have to have a job to file for bankruptcy. There's chapter 7 and chapter 13. Chapter 7 discharges all debts. Chapter 13 is when you negoiate with your creditors to come up with a pay plan. But, of course, this only works if you have a regular income. </p><p> </p><p>I don't know about Foreclosure. </p><p> </p><p>I'm so sorry about what you are going through. husband's company, that has been in business for over 50 years just filed for Chapter 11 bankrupcy on Monday. We are crossing our fingers that it doesn't go under. He's already taken a big pay-cut along with business being down which also cuts into his pay. We are hanging on by our finger nails right now.</p></blockquote><p></p>
[QUOTE="DazedandConfused, post: 319165, member: 831"] As far as I know Chapter 7 bankruptcy is the worse and stays on your credit record for ten years. Foreclosure stays on your record for seven years. You do not have to have a job to file for bankruptcy. There's chapter 7 and chapter 13. Chapter 7 discharges all debts. Chapter 13 is when you negoiate with your creditors to come up with a pay plan. But, of course, this only works if you have a regular income. I don't know about Foreclosure. I'm so sorry about what you are going through. husband's company, that has been in business for over 50 years just filed for Chapter 11 bankrupcy on Monday. We are crossing our fingers that it doesn't go under. He's already taken a big pay-cut along with business being down which also cuts into his pay. We are hanging on by our finger nails right now. [/QUOTE]
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