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Can a person get pre-approved for a home loan with a credit score of 567 if they are presently in chapter 13?
Wiki User
∙ 17y ago
It's highly unlikely a lender would consider such a request. Additionally, while participating in a Chapter 13 bankruptcy, all major financial transactions must have the approval of the bankruptcy trustee before they can be undertaken.
Wiki User
∙ 17y ago
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Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
What happens to your credit score if you file chapter 7 twice?
Debt acting like a cancerAfter the second time a chapter 7 is filed and completed, a person's credit scores may turn out better then before. The key to high credit scores entirely depends on the individual and the way in which he handles his finances. If we don't pay our bills on time and max out our credit cards, then we will be right back where we started. Filing chapter 7 is like that of a needed surgery, where in order to get out of the hole, we must cut out the debt. With high interests charges it could very well take a person a lifetime to pay everything off and especially if he's maxed out. In order for a person to get someplace, the over burden of debt must be eliminated. That's what the chapter 7 is for. Its easy to restablish good credit if the person is disciplined and determined.
How do you get a dismissed Chapter 13 it off your credit?
I may be wrong about this, but it is my understanding that you CAN'T get a Chapter 13 off your credit report until it automatically comes off 7 years from the date it was filed. But, if it's on there longer than 7 years, you can ask the credit reporting agency to remove it. A Chapter 13 bankruptcy is listed on your credit report for 7 years regardless of why the case was filed or whether it was successfully completed or dismissed (and Chapter 7's are on your credit for 10 years). Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
If someone with great credit co signs for some with bad credit does it help the person with bad credit?
The person with bad credit pays back the loan that the good credit helped him with in good payment statis. Have payment met on time or a little early will help the person with bad credit. The person with good credit is very generous with his credit. If the bad credit person does not pay on time or falters the loan. the Good credit person will have a problem . Not the bad credit person. Helping someone get back on their feet is a good thing. Make sure that your Good credit is not in jepordy.
What is a lending credit?
a person that lends credit
Who is responsible for a preapproved credit card issued to a person that does not exist at your home address?
Any person attempting to use such a card would be guilty of fraud and/or stealing by deceit, both of which are criminal felonies and subject to prosecution.
Will a request for a voluntary dismissal of a chapter 13 appear on the person's credit report?
Yes.
Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
If you filed chapter 13 7 years ago and it was discharged in Feb 01 how can you contact the credit bureau to remove this from your record if your attorney will not return your phone calls?
A Chapter 13 bankruptcy will remain on a person's credit report for the required ten years not seven.
Can an chapter 7 be disputed through a credit bureau due to an incorrect SSN?
Not if the bankrupcy actually belongs to the person on whose report it shows. The credit bureau will simply correct the SS#.
What happens to your credit score if you file chapter 7 twice?
Debt acting like a cancerAfter the second time a chapter 7 is filed and completed, a person's credit scores may turn out better then before. The key to high credit scores entirely depends on the individual and the way in which he handles his finances. If we don't pay our bills on time and max out our credit cards, then we will be right back where we started. Filing chapter 7 is like that of a needed surgery, where in order to get out of the hole, we must cut out the debt. With high interests charges it could very well take a person a lifetime to pay everything off and especially if he's maxed out. In order for a person to get someplace, the over burden of debt must be eliminated. That's what the chapter 7 is for. Its easy to restablish good credit if the person is disciplined and determined.
Who is the person going on the moon?
There are presently no plans for a return to the moon.
If you filed a chapter 13 and want to get marry how long should you wait to marry?
There is nothing that stops you from getting married, but do tell the other person about your credit history.
How do you get a dismissed Chapter 13 it off your credit?
I may be wrong about this, but it is my understanding that you CAN'T get a Chapter 13 off your credit report until it automatically comes off 7 years from the date it was filed. But, if it's on there longer than 7 years, you can ask the credit reporting agency to remove it. A Chapter 13 bankruptcy is listed on your credit report for 7 years regardless of why the case was filed or whether it was successfully completed or dismissed (and Chapter 7's are on your credit for 10 years). Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
If someone with great credit co signs for some with bad credit does it help the person with bad credit?
The person with bad credit pays back the loan that the good credit helped him with in good payment statis. Have payment met on time or a little early will help the person with bad credit. The person with good credit is very generous with his credit. If the bad credit person does not pay on time or falters the loan. the Good credit person will have a problem . Not the bad credit person. Helping someone get back on their feet is a good thing. Make sure that your Good credit is not in jepordy.
Does a person's credit score improve once all payments have been completed on a Chapter 13 and the Chapter 13 is discharged?
Not usually. Although it does look more positive than a Chap. 7 discharge. The only way a consumer's CRS will improve is by establishing new credit and showing they are a good "risk". Which means keeping payments current, and unsecured debt, minimal.
What is a lending credit?
a person that lends credit
