Debt Management Basics: Chapter 5 quiz

With a Chapter 7 bankruptcy:

The filing will stay on your credit report for seven years.

Before you file, you must pass a "means test" to qualify.

You get to reschedule and extend secured debts over the life of your repayment plan.

True or false: Even after bankruptcy you can get credit cards easily.

True

False

Which of the following is not a good tip for rebuilding credit after a bankruptcy?

Get a credit card.

Pay in cash.

Buy a car.