When you get a bankruptcy....

[Arizona]

Hello I am new here, If this question has already been answered, please let direct me to the post, I've been looking in the old posts, but I have not seen it.

When you get a bankruptcy, what does your credit report say after you get it? Before it would list your past credit information, but when you get a bankruptcy is your credit report basically blank with the exception of your name and other info like that? This may sound like a goofy question but I really would like to know if it just reads BANKRUPTCY and the date it was granted.

I am thinking about filing, I'm not sure, I think I am about 3K or more in debt, but it's 3K or more I am not willing to pay, however it may keep me from getting an apartment out here. I'm not sure yet, I haven't tried. I just moved out here from Kentucky after a divorce. But I owe another apartment in Kentucky from where I broke the lease, I have no idea how much I owe them. I applied for a credit card so that I could get denied and get a free credit report.

Thanks!

[HHM]

Not much really changes on your credit report. In the section of your credit report for "Public Records" it will mention your bankruptcy. i.e "Chapter 7 Bankruptcy Discharge {date}"

All you accounts will still be listed on your credit report and for those that had balances discharged in the BK, it will say somthing to the effect of "discharged in bankruptcy".

[Arizona]

Hmm, so it still shows your debt
Well, dang, I guess if you don't owe that much in debt, it may be just as well not to even file, and just make payment plans. I say this because I don't owe a lot, most definitely less than 10K, I'm assuming around 3-5K. In that case it almost seems pointless to file for me.

[ChrisInFlorida]

You only owe 3-5k? Go get a job delivering pizzas for 4-5 months and it will be gone. Bankruptcy will follow you for the rest of your life.

Chris

[HHM]

Hmm, so it still shows your debt
Well, dang, I guess if you don't owe that much in debt, it may be just as well not to even file, and just make payment plans. I say this because I don't owe a lot, most definitely less than 10K, I'm assuming around 3-5K. In that case it almost seems pointless to file for me.

I think you misunderstood me.

The balances on your accounts will be read zero after discharge in BK. However, the credit report will still reflect that you had those accounts. Your question was, is your credit report blank after Bk, the answer is no.

[BrokeCh7]

Wish i could of had just 3 to 5

I would like to trade i was over 100k including a car. I was just making the interest payments and staying current. Most of the debt was CC all of it under 5% until the balance was paid in full. I had good credit once. Then some of it went to 25% and this was the edge of no return I fell off the good credit world and landed in a BK town.
I am waiting for my discharge and finding life a littler harder with this. If i could have paid the CC off in a year or two i would have. I know i will have a fresh start soon and alot of work to build my credit again but right now @ 42 years i am starting over with not much and no credit to buy a home.

Its to late to trade my debit for yours but good credit is worth alot and sometime worht the hard work to keep it if you can see light at the end of the tunel.