new bankruptcy laws?

April 11th, 2008 by Questions

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.

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