new bankruptcy laws?

I have a question regarding the new bankruptcy laws (which I know haven`t come into effect yet).

If you have surplus income and your bankruptcy is automatically extended to 21 months (I think that`s what I`ve read here), does that affect how long it will remain on your credit report? Does a 21 month long bankruptcy mean an extra year of the bankruptcy being listed on your credit report?

One Response to “new bankruptcy laws?”

Barton Goth GCO Bankruptcy Trustees said...

You are correct. If you bankruptcy is extended to 21 months, the impact on your credit will be an R9 for a maximum of 6 years from the date of your discharge, so now you would be looking at 7 years and 9 months maximum impact on credit.