Debt Questions

my daughter is going bamkrupt,how long does a bankrupsy last ?

One year for plain straightforward bankruptcies and a lot of people are discharged in six months or so.

But it may stay on your credit history for upto 6 years making borrowing etc hard for that period.

Not may stay on, it WILL stay on for six years from the date of the original bankruptcy.

However, compared to having tens of years worth of screwed up CRF's whilst on alternative route, bankruptcy is hard, but short.

There are MANY people who have opted for bankruptcy in the past, and have not regretted it one little bit, they did the crime, they paid the time, now they have a full life with complete financial stability.

Once the six years is up ALL bad credit falls off the CRFs, unlike with a DMP, which will remain on there until 6 years after you have finished it off, and as some members know this will effect them for over 30 years.

Tim