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How does personal bankruptcy affect my credit?

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  • Markita Aldridge

    Mortgage Consultant, WestStar Mortgage
     
    703-497-3936

    Markita has been called :The Queen of Mortgage Financing especially after a BK". Since 2002, Markita has been a top-producing loan officer with WestStar Mortgage located in Lake Ridge, VA. She offers her clients expert service in mortgage financing regardless of credit history. Markita's former career as a professional basketball player with the "Washington Mystics of the WNBA" has been her foundation for creating a TEAM atmosphere when dealing with her mortgage clients. She truly believes Together Everyone Accomplishes More! You can visit her website at <a>www.TheLendingAdvisors.com</a> for more information and several FREE mortgage reports that reveal lending secrets other mortgage bankers don't want you to know!

  • How does personal bankruptcy affect my credit?

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    Credit, Debt, Bills, Payments, Pay, Counseling, Cancellation plan, Bankruptcy, Financial, Finances, Money

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  • Transcripts

    Host: How does personal bankruptcy affect my credit?

    Markita Aldridge: Well, personal bankruptcy is another way that you can actually deal with that. However the consequences are long stand, when you do follow bankruptcy. Typically they will store your credit 14 years. In some case we do recommend that you so follow bankruptcy and that is not very popular to say but there are some cases where a first start is actually needed. A chapter 7 is where you going and you wipe out all of your personal debt and you do have a new start. Typically if lenders another companies, you are not going to able to give back so, the game of finance. For couple of years, you could some things to try to reestablish credits right away, but you will be basically out of the credit game at a high level before at least a couple of years and that bankruptcy will always report on your credit, at least for the next ten years.

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