after bankruptcy how many years till you can build credit again
A: Usually, after about two years of paying bills timely, creditors will start taking you seriously again. However, your credit score will never entirely return to normal until 10 years passes and the bankruptcy discharge is permanently deleted from your credit report.
also what does bankruptcy eliminate and what doesnt.
A: This is a hugely complicated question
, which depends largely on your unique facts. If you have some particular debts in mind, please feel free to identify them and I'll be happy to tell you whether or not they are dischargeable.also would it terminate a business license and if so after how long can one recorporate.
A: The bankruptcy code
does not terminate business licenses. However, in the case of a debt discharged in bankruptcy, where a state licensing agency would have terminated a license due to the bankruptcy discharge, the state agency would be prohibited from terminating the license, due to the preemption of federal bankruptcy law
. In other words, the state cannot punish a person for obtaining a lawful bankruptcy discharge.
If you are talking about a business organization such as a corporation, there is nothing that prevents a debtor discharged in bankruptcy from incorporating a new business, before, during or after a bankruptcy filing and/or discharge.
Hope this helps. NOTICE
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