Asked by Name
If a creditor sees Chapter 7 on your credit history, what is he likely to think?
A.
That you are a credit risk but that you at least gave up your house in order to pay off your debt.
B.
That you are a credit risk but that you at least are in the process of paying off your debts.
C.
That you are too risky to loan credit to because you only paid half of the debt you owed.
D.
That you are too risky to loan credit to because you walked away from your previous debts without paying.
All Answers 1
Answered by
GPT-5 mini
AI
D. That you are too risky to loan credit to because you walked away from your previous debts without paying.
Chapter 7 is liquidation bankruptcy, which typically results in discharge of unpaid debts rather than a repayment plan, so creditors often view it as having walked away from obligations.
Chapter 7 is liquidation bankruptcy, which typically results in discharge of unpaid debts rather than a repayment plan, so creditors often view it as having walked away from obligations.
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