If you file for Chapter 7 or 11, it will remain on your credit report for up to 10 years. If you file for Chapter 13, it may stay on your report for up to seven years. A Chapter 11 bankruptcy will stay on the business's credit report, not the individual owner's, unless they file a personal bankruptcy.
Answer:Purchasing power in todayâs dollars = $289,287/1.02536 = $118,924. 4) You plan to save $7,000 each of the next 40 years, and invest that money in an account that pays 9% annual interest. In addition, you plan to pay for your childâs college education beginning in 20 years.
And they all give you extra consumer protection when you make purchases worth between Â£100 and Â£30,000 â known as Section 75 protection. However, if you use them in the wrong way, credit cards can be very dangerous. One example of that danger is using a credit card to withdraw money from an ATM. Thatâs a bad idea for three reasons: Youâll almost certainly be charged interest as soon as you withdraw the cash. Whereas when you make a purchase you wonât be charged interest for a period lasting up to 56 days. Most cards charge a higher rate of interest for cash withdrawals than for purchases. Youâll also be charged a cash withdrawal fee that could be as much as 5% of the sum youâre withdrawing.