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.
While many home buyers prefer the security of a fixed-rate mortgage, an ARM can be a good choice, too - especially if you know you'll be moving within the next few years. 3- and 5-year ARMs 3/1 ARMs and 5/1 ARMs generally provide the lowest interest rates and monthly payments during the initial rate period - ideal for those who don't want a long-term mortgage. 10-year ARMs 10-year ARMs are an increasingly popular option because they combine significant savings for the initial rate period with longer protection from market-based interest-rate fluctuations.