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What is considered active bankruptcy?

Atlanta, GA |

I filed a couple of years ago and now i want to apply for a business loan but if you are in active bankruptcy you dont qualify.

Attorney Answers 2

Posted

For a bankruptcy to no longer be active it must be discharged or dismissed. The latter is typically bad (however if you weren't really bankrupt it would not be bad--but in the event you were not found to be qualified for a discharge [either because you didn't cooperate at all or because you were found to have conducted yourself in an improper way] would it be bad).

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Posted

To correct slightly the previous answer, if your case has not been discharged (or dismissed) AND closed, it is still active.

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