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Old 04-16-2008, 09:04 PM
shorty32 shorty32 is offline
Sergeant First Class
Join Date: Feb 2008
Location: FT.STEWART
Posts: 167
Default Bankruptcy

Hey I got a question I filed chapter 7 and it has been discharged, how does this affect me and is there a wait time for me to enlist. my recuiter knows this info. but when I went for my waiver interview he told me not to mention it. I didn't have anything repossed.but it has only been discharged for 4 almost 5 months.
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Old 05-12-2009, 06:19 AM
liposuctionguide liposuctionguide is offline
Join Date: May 2009
Posts: 3


Bankruptcy is a legal definition of a debtorís inability to meet his debts as and when they become due. It is governed by the Bankruptcy Act 1967 (Revised 1988). Basically, the Act deals with the entire process by which an insolvent individual is made bankrupt, the administration of the bankruptís estate, and the discharge of bankrupts. Besides individuals, sole-proprietorships and partnerships can be made bankrupt. Although a deceased person cannot be made bankrupt, section 122(2) of the Bankruptcy Act 1967 provides that a petition may be presented to the Court for the administration of the deceased debtorís estate accordingly.....
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Old 05-18-2009, 11:17 AM
raynate2022 raynate2022 is offline
Join Date: Mar 2009
Location: Spokane, Wa
Posts: 32

Ya that didnt answer his questions at all but ok. From what I've been told..cause I have one that is 5 years old, is that it wont affect your ability to enlist, but I will affect your ability to gain Security Clearance. That's about all.
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