Correct answer in the Bankruptcy Agreement

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How to Correct answer in the Bankruptcy Agreement

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foreign debtors to bankruptcy bailout because debt ruins lives not bankruptcy today were doing fast answers and the question is what happens with a top secret clearance if you need to file bankruptcy so my context for answering this question is Im a bankruptcy attorney and I have assisted individuals whove either needed to get a top secret clearance or already had a top secret clearance and filed bankruptcy so the short answer to the question is that the bankruptcy in and of itself is not an obstacle to a top secret clearance and if you think about what the real risk is the risk is that you have a whole bunch of debt that you cant pay that makes you a security risk once you file bankruptcy youve offloaded all that debt and now you dont owe anyone money so you dont have that desperation of the debt affect possibly affecting your reliability and beyond that they dont really care about the bankruptcy itself but there you do have to disclose the bankruptcy and theyre going to ask

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How many years does it take to clear a bankruptcy?

Filing for bankruptcy can hurt an individuals credit, and the impact can last for years. A Chapter 7 bankruptcy may stay on credit reports for 10 years from the filing date, while a Chapter 13 bankruptcy generally remains for seven years from the filing date.

Can bankruptcy be cleared?

The law states that credit reporting agencies may not report a bankruptcy case on a persons credit report after ten (10) years from the date the bankruptcy case is filed. Generally, bad credit information is removed after seven (7) years.

How do you solve bankruptcy?

Legal action against the bankrupt or trustee After the date of the High Court order, unsecured creditors cannot take any action against the bankrupt without the consent of the Court. You must submit your claim to the trustee.

What is the best explanation for bankruptcy?

If you do not co-operate with the official receiver, he or she may also apply to the court for your public examination. This means you will be questioned in open court about your or the companys affairs, dealings and property. Your or the companys creditors may also be there and can ask you questions as well.

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