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After 8 years of having a discharged bankruptcy can you still be denied credit?
Wiki User
∙ 8y ago
Your bankruptcy is on your credit report 10 years. The fact of having a bankruptcy can influence whether someone gives you credit or not, as can just about anything else. obviously, your more recent credit history, job, general stability and financial actions will begin to have more of an influence than the older ones.
And of course, even without BK, you still can be denied credit...it is always the option of the one providing it to decide if they want to extend any credit to you at all, ever.
I think one of the things it is hoped one learns from the whole going bankrupt experience is that you do NOT have any "right" to credit.
Wiki User
∙ 8y ago
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Will you not pass a credit check for employment with a pending bankruptcy discharge?
Speaking from experience, if the discharge of bankruptcy is pending, a credit check may not pass, however, having discharged voluntarily from bankruptcy may have the same result depending on the policy of the employer or financial institution.
How long after a chapter 13 has been discharged can you apply for credit?
Between five (5) and six (6) years, depending on how long it took to discharge the chapter 13 bankruptcy. Generally a total of ten (10) years after the bankruptcy appears on your credit report is required before applying for prime credit. The average chapter 13 takes 4-5 years to be discharged, leaving about 5 years of having the bankruptcy still on your credit report.
Is it safe to do credit card cash advances before file bankruptcy?
Not really. Cash advances can and will be scrutinized by the bankruptcy Trustee for up to ONE YEAR prior to your bankruptcy filing date. If you take a cash advance and then file bankruptcy, that portion of your debt may not be discharged, on top of having to account for why you took it and what you spent the money on.
Is having a 600 credit score hinder me from getting a home loan?
Hi, I think it will be hard on you. I got denied many times with a 680 credit score. I thought that was a high score.
What ruins credit?
Not paying your bills on time. Having high balances that are close or over your line of credit. Having any derogatory (negative) information ie.) car repossession, bankruptcy, written off accounts, unpaid collections, etc.
Will you not pass a credit check for employment with a pending bankruptcy discharge?
Speaking from experience, if the discharge of bankruptcy is pending, a credit check may not pass, however, having discharged voluntarily from bankruptcy may have the same result depending on the policy of the employer or financial institution.
How long after a chapter 13 has been discharged can you apply for credit?
Between five (5) and six (6) years, depending on how long it took to discharge the chapter 13 bankruptcy. Generally a total of ten (10) years after the bankruptcy appears on your credit report is required before applying for prime credit. The average chapter 13 takes 4-5 years to be discharged, leaving about 5 years of having the bankruptcy still on your credit report.
Is it safe to do credit card cash advances before file bankruptcy?
Not really. Cash advances can and will be scrutinized by the bankruptcy Trustee for up to ONE YEAR prior to your bankruptcy filing date. If you take a cash advance and then file bankruptcy, that portion of your debt may not be discharged, on top of having to account for why you took it and what you spent the money on.
Do you know if you go to bankruptcy court do you get discharged when you go there?
A person or persons would need to file for bankruptcy before having any contact with the court and/or bankruptcy trustee. A bankruptcy discharge is what is granted if the filing is deemed valid.
How long does a bankruptcy show on your credit?
Bankruptcy will always be on your credit scoring record. After the bankruptcy is discharged it will have a less negative effect, and then after 6 years it is supposed to be considered done with and you get get a mortgage, loans etc. However, having a bankruptcy on your record will always have some negative effect even after the 6 years are up. Bankruptcies are maintained on a credit report for at least 10 years.
Is bankruptcy worse for your credit than having a judgment against you and paying back the debt?
Yes. Paying back is obviously viewed better than not doing so...regardless, or maybe especially if, the amount not paid was legally discharged.
If a Chapter 13 filed in August 1999 was dismissed in March 2000 but not discharged when does the bankruptcy fall off the public record?
A Chapter 13 bankruptcy that was dismissed without being successfully discharged will typically remain on your credit report for 7 years from the date it was filed. This means it may stay on your credit report until August 2006, assuming there are no other issues that extend the reporting period.
If a chap 13 bankruptcy is discharged and a bill is left unpaid can third party collections attempt to collect on it?
A bankruptcy can be closed or dismissed. It cannot be "discharged." The debtor is discharged from having to pay any dischargeable bills. If the 13 was successfully completed, and the debt was listed as an unsecured debt if the unsecured creditors were paid something under the plan, it might not have been discharged. Many third party debt collection law firms and agencies are trying to collect discharged debts in violation of the permanent stay. It is illegal.
Can you file bankruptcy on a Incarceration bill and escape having to pay?
Don't understand the phrase "incarceration bill," but if it has anything to do with something owed to the government, no, you can't. Debts owed to the government are not discharged during bankruptcy, only private debts.
Are felons denied for credit?
Felons are not automatically denied for credit solely because of their criminal record. Credit decisions are based on several factors, including credit history, income, and debt-to-income ratio. However, having a felony conviction can make it more challenging to qualify for credit, especially if it has impacted their financial situation or creditworthiness.
What is more credit damaging Bankruptcy or settling a credit card debt?
Bankruptcy would be more credit damaging than just having large credit card debt, mainly because it stays on your credit report for longer. One of the biggest disadvantages of filing for bankruptcy is the lasting effect it has on your credit report- typically staying on your report for 7-10 years. With credit card debt there are more flexible options and obviously when you pay the debt and does not stay on your report for as long.
How would you get a chapter 7 bankruptcy removed after 7 years?
A Chapter 7 bankruptcy will remain on the credit report for the requrired ten (10) years. There are not options for having it expunged sooner.
