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If one person declared Chapter 7 bankruptcy two years ago and the other has excellent credit what is the best way for them to buy a home together?
Wiki User
∙ 12y ago
The financing isn't soley based on credit history. It is also based on income, employment history & other factors. The primary borrower is the person that makes the most money and then their middle credit score is used to determine their eligibilty for certain programs. There are programs that allow to circumvent certain situations but require compensating factors. There are also programs that allow for Bks.
Wiki User
∙ 12y ago
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Can you get a mortgage loan if you are in a chapter 13 bankruptcy?
If you are lucky, yes. But most likely, no lender will give you a mortgage loan if you are or have declared bankruptcy.
What is chapter 13 about?
Chapter 13 bankruptcy is for individuals who have some steady income, in general. An excellent primer about either chapter 7 or 13 bankruptcy is "The New Bankruptcy, will it work for You?" 3rd edition by Stephen Elias, published in 2009 by Nolo; 346.078 E42N Dewey decimal. Also you might contact a paralegal or lawyer specializing in filing bankruptcy in the state of jurisdiction.
How can one get a loan if they have declared bankruptcy?
Getting a loan after bankruptcy can be difficult depending on what type of bankruptcy one files. A Chapter 13 bankruptcy, one cannot even apply for credit during the length of the bankruptcy. In a Chapter 7 bankruptcy, that is a different story. One can file Chapter 7 bankruptcy and as soon as it is discharged can apply for credit. The only problem with getting a loan after bankruptcy is that you may have to have a co-signer until you build up some positive credit.
What happened to Thorn Apple Valley?
Thorn Apple Valley declared Chapter 11 bankruptcy in 1999 and was acquired by IBP Inc.
When did Thorn Apple Valley go bankrupt?
Thorn Apple Valley declared Chapter 11 bankruptcy in 1999 and was acquired by IBP Inc.
Did IBP buy Thorn Apple Valley?
Thorn Apple Valley declared Chapter 11 bankruptcy in 1999 and was acquired by IBP Inc.
Did Thorn Apple Valley go bankrupt?
Thorn Apple Valley declared Chapter 11 bankruptcy in 1999 and was acquired by IBP Inc.
Do have to work in order to file a chapter 13?
You must be generating a steady income to file chapter 13 bankruptcy, regardless of whether it is earned income. If you don't currently have income, chapter 7 most likely is the better way to file bankruptcy. There is an excellent book that gives you a substantial perspective on filing chapter 7 or chapter 13 bankruptcy: "The New Bankruptcy, will it work for You?", 3rd edition, by Stephen Elias (published in 2009 by Nolo) -- I found it in the Colorado Springs public library at 346.078 E42N (Dewey decimal system).
Did Thorn Apple Valley go bankrupt in 1999?
Thorn Apple Valley declared Chapter 11 bankruptcy in 1999 and was acquired by IBP Inc.
If you filed chapter 13 bankruptcy and it was discharged can you file chapter 7 bankruptcy now?
Yes.
Where can one read chapter 7 of bankruptcy law?
The web site provided by the US government is the best site to read chapter 7 bankruptcy information. This site tells you what the law is, which is the bottom line, and is an excellent place to start.
How long does it take after a bankruptcy is discharged to show on your credit report?
The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.
