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Some important queries of Bankruptcy

Posted on 1:47 PM No Comments

We all know the problems a person face after filing bankruptcy. There are some questions which are in our mind when we discuss about filing bankruptcy. Let me discuss some of them:

  • What about the credit after filing bankruptcy? Would it be possible to get credit after filing it?

The answer is “Yes”. There are some companies that take chances to give credit to persons who filed bankruptcy in the past. The credit limit may not be high and also you may have to pay yearly fees for your credit.

  • Will it be possible to take mortgage loan after filing bankruptcy?

Yes, you will get mortgage loan but after one or two years when you are discharged from bankruptcy. But the key factor of getting a loan is to show the bank or lender that the money problem you had is past and you are very much determined not to have it in the future.

  • Can the Govt. take the pension to pay off tax debt?

Yes, the Government has the right to take your pension to pay off your tax debt. Not only that they can even take money from your other savings account.

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