Bankruptcy definitely leaves an undeniable black streak on your borrowing reputation. After all, you have just demonstrated your willingness to walk away from your financial obligations and turn your back on banks and lenders who have trusted you to pay. Rebuilding your borrowing reputation following bankruptcy is a difficult task that takes time and patience, but it can be done and you can eventually qualify for unsecured loans following bankruptcy.
Believe it or not, when you file for bankruptcy, especially a Chapter 7 bankruptcy, it can have a major impact on your life. For this reason alone, it is best to be completely truthful with your bankruptcy attorney about all aspects of your life.
So you want a chapter 11 bankruptcy definition to help you determine if this is the right option for you in your current financial predicament?