Answered

Welcome to Westonci.ca, where curiosity meets expertise. Ask any question and receive fast, accurate answers from our knowledgeable community. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

3. What are some potential negative outcomes of filing for bankruptcy?

Sagot :

audrey123488
Answer:
Bankruptcies are considered negative information on your credit report, and can affect how future lenders view you. Seeing a bankruptcy on your credit file may prompt creditors to decline extending you credit or to offer you higher interest rates and less favorable terms if they do decide to give you credit. Many credit card companies will automatically cancel your credit cards when you file for bankruptcy and this may lead to having difficulty getting new credit cards or lines of credit. If you have any joint accounts, creditors can demand payment from the non-bankrupt debtor or any cosigners on those accounts.
Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.