Debt Relief
Q. Will debt restructuring put me on a credit blacklist?
A.
Debt restructuring puts you on a credit blacklist for 5-10 years, but records are cleared after that period.
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Debt restructuring registers negative information at credit bureaus for ~5-10 years depending on type. During this period, new loans, credit cards, and mortgages are difficult. Records are cleared after the registration period.
This article provides general legal information and does not constitute legal advice. For specific legal issues, please consult with a qualified attorney.
Related Questions
Q. What happens when you file for personal bankruptcy? What are the downsides?
Q. What is individual rehabilitation (kojin saisei)?
Q. What is the statute of limitations on debt? What is invocation of prescription?
Q. What is voluntary debt arrangement and how does it differ from bankruptcy?
Q. Can my wages be garnished for unpaid debts?
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