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cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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I am wondering if a Chapter 13 bankruptcy could help improve

Customer Question

I am wondering if a Chapter 13 bankruptcy could help improve credit scores? My husband and I both have items on our reports that won't come off until 2014 - 2015, and we are in need of being able to buy a decent house to live in (we currently rent). Could a Chapter 13 help? Should I just pay off the debts?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 5 years ago.

cortrightlaw : A chapter 13 bankruptcy will be reported on your credit report for ten years and you will be in the repayment plan for 5 years. So if tou
cortrightlaw : So if your credit is still good you would be best to pay off the debt if you can afford to. If your credit is already in bad shape and you can not get ahead of the debt and pay it off them a chapter 7 or 13 bankruptcy would be a good option.
JACUSTOMER-0ngqqpcc- :

Would a Chapter 13 help to get charge-off statuses off our reports or would the accounts still show that?

cortrightlaw : The accounts would still show but they would be shown as discharged in bankruptcy.