Once it is reported to the credit reporting agencies, it is very tough to have it removed. However, you can get them to mark it "satisfied" by providing documentation of such along with a letter of explanation. Keep copies of all correspondence with the agencies.
No, if property has been foreclosed upon the notation will remain on the credit report for the required amount of time of seven years from date of foreclosure. A bankruptcy remains on the credit report for ten years.
No, in fact it will leave a Bankruptcy record on your credit report for 10 years.
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.
Yes, it will show as included in bankruptcy and also foreclosure. You get a double whammy. Sorry probably not what you wanted to hear.
A foreclosure will typically remain on your credit report for seven years.
No, if property has been foreclosed upon the notation will remain on the credit report for the required amount of time of seven years from date of foreclosure. A bankruptcy remains on the credit report for ten years.
No, in fact it will leave a Bankruptcy record on your credit report for 10 years.
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.
Yes, it will show as included in bankruptcy and also foreclosure. You get a double whammy. Sorry probably not what you wanted to hear.
No, just adds to it. The credit report is just reflecting historical information....your actions after the fact don't change the past.
A foreclosure will typically remain on your credit report for seven years.
The foreclosure will be on your credit report indefinitely.
No, filing bankruptcy will never help improve your credit score, it stays on your report 10 years whereas a repo or foreclosure normally remain 7 years. So bankruptcy would only make your credit worse.
A foreclosure will typically remain on your credit report for seven years.
Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.
If your home loan is included in your bankruptcy, the code describing your repayment behavior on your credit report for this loan will change. If the bank forecloses on your home, the code describing your repayment behavior on your credit report for this loan will change. The loan will have one coded description of your repayment behavior. Credit Agencies only care about your repayment habits, not which mechanism cost you your home. There is no separate report. Your credit is going to be BAD for many years. Whether the house was part of the bankruptcy or whether it was taken in a foreclosure action will not matter (it's not like one is better than the other).
A foreclosure can stay on your credit report for over ten years. It will have a significant and negative impact on your score.